Can I in any way (for free) cash-park a domain and still put content on web pages?

[twn]

I'm about to get a GoDaddy domain and use 000webhost as my host. I would like to run several websites with my single domain by using subdomains (site1.example.com, site2.example.com). Can I set my domain to GoDaddy cash-parking and still run sites at my subdomains? If not, is there some kind of FREE script that will allow me to place an ad page on the index of my domain (www.example.com)?

Thanks in advance =)

EDIT: Nevermind on the possibility of using GoDaddy cash-parking. I thought it was free when I wrote this. But I would still like to know of any free way to monetize the index of my domain.