PROGRESS CONSULTING Balance Sheet December 31, 20X1 ccember: owing transactions during 1st Aaron Jones invested the following assets in the business: cash, $6,500; supplies, $1,250; and office equipment, $27,900. Mr. Jones received common stock in an amount equal to his investment. 2nd Paid $4,500 for rent for December 20X1 through February 28, 20X2. 3rd Paid $1,800 for a one year premium on property and casualty insurance. The policy covers the period December 1, 20X1 to November 30, 20X2 4th Received $3,500 cash from a client as an advance payment for services to be performed in the future. 5th Purchased additional office equipment on account from Payne Company for $1,800. 10th Paid $2,300 for a newspaper advertisement. 11th Paid Payne Company for part of the debt incurred on December 5, $900. 12th Billed clients for services performed on account, $1,200. 17th Received cash payment from client for services performed on this date, $8,45).* 18th Paid $1,151 for supplies.* Billed clients for services performed on account, $1,100. 20th 24th Received cash payment from client for services performed on this date, $1,850. 25th Received cash from clients as payment on account, $1,300. 30th Paid $330 for utilities for December. Paid cash dividend of $2,45).* 31st IS IS VERY IMPORTANT TO SUCCESSFUL COMPLETION OF THE PROJEC e are three numbers in the project that you must fill in to complete the project. These num isplayed with underscore symbols (i.e. ) and have an asterisk symbol at the end of their r the LAST 3 digits in YOUR NSU Student ID Card in the place of the three underscore- oli for anch of the numbers, For example, if your student id number is 123456, then you otudent's project will be
PROGRESS CONSULTING Balance Sheet December 31, 20X1 ccember: owing transactions during 1st Aaron Jones invested the following assets in the business: cash, $6,500; supplies, $1,250; and office equipment, $27,900. Mr. Jones received common stock in an amount equal to his investment. 2nd Paid $4,500 for rent for December 20X1 through February 28, 20X2. 3rd Paid $1,800 for a one year premium on property and casualty insurance. The policy covers the period December 1, 20X1 to November 30, 20X2 4th Received $3,500 cash from a client as an advance payment for services to be performed in the future. 5th Purchased additional office equipment on account from Payne Company for $1,800. 10th Paid $2,300 for a newspaper advertisement. 11th Paid Payne Company for part of the debt incurred on December 5, $900. 12th Billed clients for services performed on account, $1,200. 17th Received cash payment from client for services performed on this date, $8,45).* 18th Paid $1,151 for supplies.* Billed clients for services performed on account, $1,100. 20th 24th Received cash payment from client for services performed on this date, $1,850. 25th Received cash from clients as payment on account, $1,300. 30th Paid $330 for utilities for December. Paid cash dividend of $2,45).* 31st IS IS VERY IMPORTANT TO SUCCESSFUL COMPLETION OF THE PROJEC e are three numbers in the project that you must fill in to complete the project. These num isplayed with underscore symbols (i.e. ) and have an asterisk symbol at the end of their r the LAST 3 digits in YOUR NSU Student ID Card in the place of the three underscore- oli for anch of the numbers, For example, if your student id number is 123456, then you otudent's project will be
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
How do I set up a
Transcribed Image Text:PROGRESS CONSULTING
Balance Sheet
December 31, 20X1
Transcribed Image Text:ccember:
owing transactions during
1st
Aaron Jones invested the following assets in the business: cash, $6,500; supplies,
$1,250; and office equipment, $27,900. Mr. Jones received common stock in an
amount equal to his investment.
2nd
Paid $4,500 for rent for December 20X1 through February 28, 20X2.
3rd
Paid $1,800 for a one year premium on property and casualty insurance. The
policy covers the period December 1, 20X1 to November 30, 20X2
4th
Received $3,500 cash from a client as an advance payment for services to be
performed in the future.
5th
Purchased additional office equipment on account from Payne Company for
$1,800.
10th
Paid $2,300 for a newspaper advertisement.
11th
Paid Payne Company for part of the debt incurred on December 5, $900.
12th
Billed clients for services performed on account, $1,200.
17th
Received cash payment from client for services performed on this date, $8,45).*
18th
Paid $1,151 for supplies.*
Billed clients for services performed on account, $1,100.
20th
24th
Received cash payment from client for services performed on this date, $1,850.
25th
Received cash from clients as payment on account, $1,300.
30th
Paid $330 for utilities for December.
Paid cash dividend of $2,45).*
31st
IS IS VERY IMPORTANT TO SUCCESSFUL COMPLETION OF THE PROJEC
e are three numbers in the project that you must fill in to complete the project. These num
isplayed with underscore symbols (i.e. ) and have an asterisk symbol at the end of their
r the LAST 3 digits in YOUR NSU Student ID Card in the place of the three underscore-
oli for anch of the numbers, For example, if your student id number is 123456, then you
otudent's project will be
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