The following transactions pertaln to Smith Training Company for Year 1 TRAINING COMP Dar 30 Established the business when it acquired $54,000 cash from the issue of coor stock Feb. 1 Paid rent for office space for two years, $15,800 caslh Apr. 10 Purchased $770 of supplies n accourit uly 1 Received $23,500 cash in advance for services to be provided over the next year. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating actvities: 20 Paid $578 of the accounts payable from April 1e Aug. 15 Billed a custoner $10,000 for services provided during August Sept.15 Completed a job and received $3,000 cash for services rendered Oct. 1 Paid employee salaries of $36,500 cash Nel ash Nows fram uperaling activities Cash lows rom instg aclivilies Cash flows from financing activities 15 Received $8,o00 cash from accounts receivable Nov. 16 Billed customers $37,000 for services rendered on account Dec. 1 Paid a dividend of $1,200 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1 31 Recorded $2,450 of accrued salaries as of December 31 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $110 was on hand a the end of the period Net cash fiows from tinancing sctrvities Ending cash balance 1912, 275px 1912 x 825px 100%-: 1133 AM S/11,2019 O Type here to search