Required information[The following information applies to the questionsdisplayed below.]The following transactions pertain to...Required information[The...

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Accounting

Required information
[The following information applies to the questionsdisplayed below.]
The following transactions pertain to Smith Training Company forYear 1:
Jan. 30 Established the business when it acquired $54,000 cash from theissue of common stock.
Feb. 1 Paid rent for office space for two years, $16,200 cash.
Apr. 10 Purchased $740 of supplies on account.
July 1 Received $27,500 cash in advance for services to be providedover the next year.
20 Paid $555 of the accounts payable from April 10.
Aug. 15 Billed a customer $10,000 for services provided duringAugust.
Sept. 15 Completed a job and received $3,000 cash for servicesrendered.
Oct. 1 Paid employee salaries of $33,500 cash.
15 Received $9,300 cash from accounts receivable.
Nov. 16 Billed customers $36,500 for services rendered on account.
Dec. 1 Paid a dividend of $700 cash to the stockholders.
31 Adjusted records to recognize the services provided on thecontract of July 1.
31 Recorded $2,150 of accrued salaries as of December 31.
31 Recorded the rent expense for the year. (See February 1.)
31 Physically counted supplies; $90 was on hand at the end of theperiod.
d. Prepare the statement of cash flows for Year1. (Round your final answers to the nearest whole dollaramount. Statement of Cash Flows only, items to be deducted must beindicated with a negative amount.)

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Cash flow statement to be made as under Smith Training Company Statement of Cash flows For the year 1 Particulars Amount Amount Cash flow from operating activities Advance for services to be provided over the next year 27500 Cash received from customers 12300 Less Cash Paid for Rent for office space 16200 Supplies 555 Salaries 33500 50255 Net cash provided by operating activities 10455 Cash flow from investing activities Net cash provided by investing activities Cash flow from financing activities Proceeds from issue of common stock See Answer

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Transcribed Image Text

In: AccountingRequired information[The following information applies to the questionsdisplayed below.]The following transactions pertain to...Required information[The following information applies to the questionsdisplayed below.]The following transactions pertain to Smith Training Company forYear 1:Jan.30Established the business when it acquired $54,000 cash from theissue of common stock.Feb.1Paid rent for office space for two years, $16,200 cash.Apr.10Purchased $740 of supplies on account.July1Received $27,500 cash in advance for services to be providedover the next year.20Paid $555 of the accounts payable from April 10.Aug.15Billed a customer $10,000 for services provided duringAugust.Sept.15Completed a job and received $3,000 cash for servicesrendered.Oct.1Paid employee salaries of $33,500 cash.15Received $9,300 cash from accounts receivable.Nov.16Billed customers $36,500 for services rendered on account.Dec.1Paid a dividend of $700 cash to the stockholders.31Adjusted records to recognize the services provided on thecontract of July 1.31Recorded $2,150 of accrued salaries as of December 31.31Recorded the rent expense for the year. (See February 1.)31Physically counted supplies; $90 was on hand at the end of theperiod.d. Prepare the statement of cash flows for Year1. (Round your final answers to the nearest whole dollaramount. Statement of Cash Flows only, items to be deducted must beindicated with a negative amount.)

Jan.	30	Established the business when it acquired $54,000 cash from theissue of common stock.
Feb.	1	Paid rent for office space for two years, $16,200 cash.
Apr.	10	Purchased $740 of supplies on account.
July	1	Received $27,500 cash in advance for services to be providedover the next year.
	20	Paid $555 of the accounts payable from April 10.
Aug.	15	Billed a customer $10,000 for services provided duringAugust.
Sept.	15	Completed a job and received $3,000 cash for servicesrendered.
Oct.	1	Paid employee salaries of $33,500 cash.
	15	Received $9,300 cash from accounts receivable.
Nov.	16	Billed customers $36,500 for services rendered on account.
Dec.	1	Paid a dividend of $700 cash to the stockholders.
	31	Adjusted records to recognize the services provided on thecontract of July 1.
	31	Recorded $2,150 of accrued salaries as of December 31.
	31	Recorded the rent expense for the year. (See February 1.)
	31	Physically counted supplies; $90 was on hand at the end of theperiod.