For the past several years, Jeff Horton has operated a part-time consulting busines from his...
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For the past several years, Jeff Horton has operated a part-time consulting busines from his home. As of April 1, 2019, Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud Consulting entered into the following transactions during April: The following assets were received from Jeff Horton: cash, Anr $20,000; accounts receivable, $14,700; supplies, $3,300; and 1. office equipment, $12,000. There were no liabilities received. Paid three months' rent on a lease rental contract, $6,000. Paid the premiums on property and casualty insurance policies, 1. 2. $4,200 Received cash from clients as an advance payment for services to 4. be provided and recorded it as unearned fees, $9.400. 5 Purchased additional office equipment on account from Smith Office Supply Co., $8,000
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