Richard Company started a consulting company in December 2011. Prepare the December 31, 2011 Balance Sheet. The following occurred in December.
. Acquired $40,000 cash by issuing common stock
. Borrowed $10,000 cash on December 1st on a note to the bank due May 31,
2012 at 12% APR
. Provided service to customers for $25,000 cash
. Paid $18,000 cash for all operating expense except the interest on the note
. Paid a cash dividend of $1,000 to stockholders
. Purchased a new equipment with cash at the after Christmas clearance sale for
$6,000
