Business, 11.11.2019 23:31 mandilynn22

Katy mccall opens a tax consulting business called horizon consultants inc. and completes the following transactions in march:

march 1: as a sole shareholder, mccall invested $125,000 cash along with $45,000 of office equipment in the company.

march 2: horizon consultants inc. completed services for a client and immediately received $4,000 cash.

march 3: horizon made credit purchases for office equipment for $1,500 and office supplies for $2,100. payment is due within 10 days.

march 6: horizon consultants inc. pre-paid $6,000 cash for six months’ rent for their office.

march 10: horizon completed a $4,250 project for a client who must pay within 45 days.

march 12: horizon paid $3,600 cash to settle the account payable created on march 3.

march 19: horizon paid a $6,000 cash premium on a 12-month insurance policy.

march 22: horizon received $3,250 cash as a partial payment for the work completed on march 10.

march 25: horizon completed work for another client for $4,250 on credit.

march 29: mccall paid herself a dividend of $3,000 cash.

march 30: horizon purchased $750 of additional office supplies on credit.

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