Required information(The following information applies to the questionsdisplayed below.]Lawson Consulting, which began operations on December 1,had the following accounts and amounts on December31. The I. Lawson, Capital account balance at December 1was $0 and the owner invested $19,130 cash in the companyon December 2. On December 31, the company's accountsand amounts for the month of December are shown in thetable below:$ 11,500 I. Lawson, Withdrawals5,800 Services revenue7,800 Rent expense4,170 Wages expense19,130$ 2,80015,9003,3008,000CashAccounts receivableEquipmentAccounts payableI. Lawson, Capitalthe above information to prepare a December 31ice sheet for Lawson Consulting. Hint: The ending I.on, Capital account balance as of December 31 is930.LAWSON CONSULTINGBalance SheetAs of December 31Liabilities:5:$11,500 Accounts payable2$4,170nts receivable5,800nent7,800 Equity:1. Lawson, Capital20,930Total equity20,930$25,100$25,100 Required information[The following information applies to the questionsdisplayed below.]Lawson Consulting, which began operations on December 1,had the following accounts and amounts on December31. The I. Lawson, Capital account balance at December 1was $0 and the owner invested $19,130 cash in the companyon December 2. On December 31, the company's accountsand amounts for the month of December are shown in thetable below:$ 11,500 I. Lawson, Withdrawals5,800 Services revenue7,800 Rent expense4,170 Wages expense19,130Cash$ 2Accounts receivable15EquipmentAccounts payableI. Lawson, Capital8Use the above information to prepare a December 31balance sheet for Lawson Consulting. Hint: The ending I.Lawson, Capital account balance as of December 31 is$20,930.LAWSON CONSULTINGBalance SheetAs of December 31Assets:Liabilities:Cash$11,500 Accounts payable2$4,Accounts receivable5,800Equipment7,800 Equity:1. Lawson, Capital20,Total equity20,!2$25,1002$25,

$ 11,500 I. Lawson, Withdrawals 5,800 Services revenue 7,800 Rent expense 4,170 Wages expense 19,130 $ 2,800 15,900 3,300 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital e above information to prepare a December 31 ce sheet for Lawson Consulting. Hint: The ending I. on, Capital account balance as of December 31 is 30.

$ 11,500 I. Lawson, Withdrawals 5,800 Services revenue 7,800 Rent expense 4,170 Wages expense 19,130 $ 2,800 15,900 3,300 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital e above information to prepare a December 31 ce sheet for Lawson Consulting. Hint: The ending I. on, Capital account balance as of December 31 is 30.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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prepare the balance sheet but not is image format
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