Prepare a Balance Sheet for Business Solutions
What are the transactions and events that occurred in December 2015 for Business Solutions?
Transactions and Events in December 2015:
1. Dec 2: Paid $1,025 cash to Hillside Mall for Business Solutions share of mall advertising costs.
2. Dec 3: Paid $500 cash for mirror repairs to the company's computer.
3. Dec 4: Received $3,950 cash from Alex's Engineering Co. for the receivable from November.
4. Dec 10: Paid cash to Lyn Addie for six days of work at the rate of $125 per day.
5. Dec 14: Notified by Alex's Engineering Co. that Business Solutions' bid of $47,000 on a proposed project has been accepted. Alex's paid a $1,500 cash advance to Business Solutions.
6. Dec 15: Purchased $1,100 of computer supplies on credit from Harris Office Products.
7. Dec 16: Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8.
8. Dec 20: Completed a project for Liu Corporation and received $5,625 in cash.
9. Dec 26: Received $3,000 cash from Gomez Co on its receivable.
10. Dec 29: Reimbursed S. Re for business automobile mileage (600 miles at $0.32 per mile).
11. Dec 31: The company paid $1,500 cash in dividends.
Business Solutions had a bustling December in 2015 with various transactions and events that impacted its financial status. From paying advertising costs to receiving cash for completed projects, the company saw a mix of expenses and revenue during the month.
One notable transaction was the notification from Alex's Engineering Co. regarding the acceptance of Business Solutions' bid on a proposed project. This led to a cash advance and signaled potential growth for the company in the future.
Furthermore, the purchase of computer supplies on credit from Harris Office Products highlighted the need for necessary resources to continue operations smoothly. The company also took steps to remind clients of pending payments and completed projects successfully, resulting in cash inflows.
All these transactions and events in December 2015 showcase the dynamic nature of Business Solutions' operations and its efforts to maintain financial stability while pursuing growth opportunities.