Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts...
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Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock $5,000 Dividends 4,500 Services revenue 6,500 Rent expense 3,000 Wages expense 10,500 $1,500 12,000 2,000 6,000 Use the above information to prepare a December income statement for the business. Use the above information to prepare a December statement of retained earnings for Lawson Consulting. The Retained Earnings account balance at December 1 was $0. Hint. Net income for December is $4,000. LAWYON CONSU Use the above information to prepare a December 31 balance sheet for Lawson Consulting Hint The ending Retained Earnings account balance as of December 31 is $2,500 Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock $5,000 Dividends 4,500 Services revenue 6,500 Rent expense 3,000 Wages expense 10,500 $1,500 12,000 2,000 6,000 Use the above information to prepare a December income statement for the business. Use the above information to prepare a December statement of retained earnings for Lawson Consulting. The Retained Earnings account balance at December 1 was $0. Hint. Net income for December is $4,000. LAWYON CONSU Use the above information to prepare a December 31 balance sheet for Lawson Consulting Hint The ending Retained Earnings account balance as of December 31 is $2,500
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Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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