Question: Required information Use the following information for the Quick Studies below. (Algo) (The following information applies to the questions displayed below.) Lawson Consulting had
Required information Use the following information for the Quick Studies below. (Algo) (The following information applies to the questions displayed below.) Lawson Consulting had the following accounts and amounts on December 31. The Retained Earnings account balance at December 1 was $0 and the owner invested $17,090 cash in the company on December 1. On December 31, the company's accounts and amounts for the month of December are shown in the table below: Cash Accounts receivable Equipment Accounts payable Common stock $ 9,500 5,400 7,400 3,810 17,090 Dividends Services revenue Rent expense Wages expense $ 2,400 14,700. 2,900 8,000 The company began operations on December 1. QS 2-16 (Algo) Preparing a statement of retained earnings LO P1 Use the above information to prepare a December statement of retained earnings for Lawson Consulting. LAWSON CONSULTING Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 dd: Net income $ 0 0 $ 0 2 Prou G
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
