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 $18,620 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 $ 11,000 5,700 7,700 4,080 18,620 Dividends Services revenue Rent expense Wages expense The company began operations on December 1. QS 2-15 (Algo) Preparing an income statement LO P1 LAWSON CONSULTING Income Statement $ 2,700 15,600 3,200 8,000 Use the above information to prepare a December income statement for the business.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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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 $18,620 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
$ 11,000
5,700
7,700
4,080
18,620
Dividends
Services revenue
Rent expense
Wages expense
The company began operations on December 1.
LAWSON CONSULTING
Income Statement
QS 2-15 (Algo) Preparing an income statement LO P1
Use the above information to prepare a December income statement for the business.
$ 2,700
15,600
3,200
8,000
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Transcribed Image Text: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 $18,620 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 $ 11,000 5,700 7,700 4,080 18,620 Dividends Services revenue Rent expense Wages expense The company began operations on December 1. LAWSON CONSULTING Income Statement QS 2-15 (Algo) Preparing an income statement LO P1 Use the above information to prepare a December income statement for the business. $ 2,700 15,600 3,200 8,000 < Prev GO 10 11 12 of 12 Next >
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