Use the information in QS 2-12 and QS 2-13 to prepare a June 30 balance sheet for
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Use the information in QS 2-12 and QS 2-13 to prepare a June 30 balance sheet for Lawson Consulting. Hint: Computethe owner’s capital account balance as of June 30.
Data from QS 2-12 and QS 2-13
Liu Zhang operates Lawson Consulting, which began operations on June 1. On June 30, the company’s records show the following selected accounts and amounts for the month of June. Prepare a June income statement for the business.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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