Which of the following events would be recognized in the accounting records of Progusto Consultants on the date indicated? Explain your answer. Feb. 15 : Progusto Consultants offers to purchase a piece of land for $1,200,000. There is a high likelihood that the offer will be accepted. March 2 : Progusto Consultants recieved notice that its rentals for their office will increase from $40,000 to $45,000 per month starting May 1. April 29 : The Business recieves its electricity bill for the month of April. The bill is due to May 5. July 5 : Progusto places an order for an office equipment costing $85,000 Aug. 6 : The office equipment ordered on July 5 is delivered. Payment will be due on Sept. 1 Sep. 5 : The business hired a new office clerk.
Which of the following events would be recognized in the accounting records of Progusto Consultants on the date indicated? Explain your answer. Feb. 15 : Progusto Consultants offers to purchase a piece of land for $1,200,000. There is a high likelihood that the offer will be accepted. March 2 : Progusto Consultants recieved notice that its rentals for their office will increase from $40,000 to $45,000 per month starting May 1. April 29 : The Business recieves its electricity bill for the month of April. The bill is due to May 5. July 5 : Progusto places an order for an office equipment costing $85,000 Aug. 6 : The office equipment ordered on July 5 is delivered. Payment will be due on Sept. 1 Sep. 5 : The business hired a new office clerk.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter9: Working Capital
Section: Chapter Questions
Problem 9Q
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Which of the following events would be recognized in the accounting records of Progusto Consultants on the date indicated? Explain your answer.
Feb. 15 : Progusto Consultants offers to purchase a piece of land for $1,200,000. There is a high likelihood that the offer will be accepted.
March 2 : Progusto Consultants recieved notice that its rentals for their office will increase from $40,000 to $45,000 per month starting May 1.
April 29 : The Business recieves its electricity bill for the month of April. The bill is due to May 5.
July 5 : Progusto places an order for an office equipment costing $85,000
Aug. 6 : The office equipment ordered on July 5 is delivered. Payment will be due on Sept. 1
Sep. 5 : The business hired a new office clerk.
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