Tell me about the most challenging work situation you ever faced. (Use the STAR method to answer.)

Use the following information Fox's first year of operations is 2019, regarding Fox's activity in 2019 to answer questions 24-33. James Fox started the company by opening business bank account and transferring $42,000 to it from his personal bank account, Hired employees. Employees will be paid a total of $1, 000 per month on the last day of the month. Please note that this payment occurs and an entry is required even though I do not state so explicitly 2/1 below. Fox paid $6, 000 cash for an insurance policy covering the next 12- months, At the time Fox debited insurance expense and credited cash 2/1 for the full amount of $6,000. Purchased on credit $84, 000 for equipment with an 7-year useful life and 0 residual value. Fox uses the straight line depreciation method and depreciates long-lived assets from the date of 3/1 acquisition. 4/1 Purchased $34, 000 in inventory on account. Sells inventory costing $18,000 for $51,000 in cash. Paid for inventory purchased on 4/1. Received $7,000 in advance payment from a client for services that will be performed by Fox equally during the months of July 2019 through January 2020. At the time of receipt, Fox debited cash and credited service revenue for $7,000. Purchase $2, 000 worth of office supplies for cash, debiting office Supplies and crediting Cash 7S/1 6/1 7/1 9/1 As of 12/31, $600 of supplies are left. 10/1 Performed services for a client and billed $25, 000. 12/31 Salaries owed employees but not yet paid equal $1,000 (payment not made because December 31, is a holiday) 24. Balance Sheet? What is the cash amount reported on the December 31, 2019 A. $100,000 $53,000 $47,000 $73,000 None of the above D. E. 25. What are total liabilities on the 2019 Balance Sheet? A. $96,000 $95,000 $86,000 $85,000 the above B . D. E. 26. What is the insurance expense on the 2019 Income Statement? . $6,000 $5,000 $5,500 $0 None of the above . C. D. E