Question

Required information Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.) The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $52,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $17,000 cash. Apr. 10 Purchased $840 of supplies on account. July 1 Received $20,500 cash in advance for services to be provided over the next year. 20 Paid $630 of the accounts payable from April 10. Aug. 15 Billed a customer $9,400 for services provided during August. Sept. 15 Completed a job and received $3,200 cash for services rendered. Oct. 1 Paid employee salaries of $36,000 cash. 15 Received $7,500 cash from accounts receivable. Nov. 16 Billed customers $37,500 for services rendered on account. Dec. 1 Paid a dividend of $1,100 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,250 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $150 was on hand at the end of the period.

Answer 1

i have solved the first 3 parts since it was not specified which part is to be solved , thankyou .