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 $19,640 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 $ 12,000 5,900 7,900 4,260 Mages expense 19,640 Dividends Services revenue Rent expense The company began operations on December 1. LAWSON CONSULTING $ 2,900 16,200 3,400 8,000 Use the above information to prepare a December income statement for the business.

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 $19,640 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 $ 12,000 5,900 7,900 4,260 Mages expense 19,640 Dividends Services revenue Rent expense The company began operations on December 1. LAWSON CONSULTING $ 2,900 16,200 3,400 8,000 Use the above information to prepare a December income statement for the business.

Name: Lawson Consulting had the following accounts and amounts on December
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Description: Lawson Consulting had the following accounts and amounts on December 31. The Retained Earnings account balance atDecember 1 was $0 and the owner invested $19,640 cash in the company on December 1. On December 31, thecompany's accounts and amounts fo

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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