Lawson Consulting had the following accounts and amounts on December 31.   Cash $ 5,000 Dividends $ 1,500 Accounts receivable 4,500 Services revenue 12,000 Equipment 6,500 Rent expense 2,000 Accounts payable 3,000 Wages expense 6,000 Common stock 10,500       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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Lawson Consulting had the following accounts and amounts on December 31.
 

Cash $ 5,000 Dividends $ 1,500
Accounts receivable 4,500 Services revenue 12,000
Equipment 6,500 Rent expense 2,000
Accounts payable 3,000 Wages expense 6,000
Common stock 10,500    

 

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
Balance Sheet
As of December 31
0
$
0
0
0
Transcribed Image Text:$ LAWSON CONSULTING Balance Sheet As of December 31 0 $ 0 0 0
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