Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested $21,680 cash in the company on December 2. On December 31, the company's accounts and amounts for the month of December are shown in the table below: $ 14,000 I. Lawson, Withdrawals 6,300 Services revenue 8,300 Rent expense 4,620 Wages expense 21,680 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The ending I. Lawson, Capital account balance as of December 31 is $23,980. %24

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Required information
[The following information applies to the questions
displayed below.]
Lawson Consulting, which began operations on December 1,
had the following accounts and amounts on December
31. The I. Lawson, Capital account balance at December 1
was $0 and the owner invested $21,680 cash in the
company on December 2. On December 31, the company's
accounts and amounts for the month of December are
shown in the table below:
$ 14,000 I. Lawson, Withdrawals
6,300 Services revenue
8,300 Rent expense
4,620 Wages expense
21,680
Cash
$ 3
Accounts receivable
17
Equipment
Accounts payable
I. Lawson, Capital
3
Use the above information to prepare a December 31
balance sheet for Lawson Consulting. Hint: The ending I.
Lawson, Capital account balance as of December 31 is
$23,980.
LAWSON CONSULTING
Balance Sheet
Accounts receivable
Accounts payable
Total equity
2$
2$
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested $21,680 cash in the company on December 2. On December 31, the company's accounts and amounts for the month of December are shown in the table below: $ 14,000 I. Lawson, Withdrawals 6,300 Services revenue 8,300 Rent expense 4,620 Wages expense 21,680 Cash $ 3 Accounts receivable 17 Equipment Accounts payable I. Lawson, Capital 3 Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The ending I. Lawson, Capital account balance as of December 31 is $23,980. LAWSON CONSULTING Balance Sheet Accounts receivable Accounts payable Total equity 2$ 2$
equired information
"he following information applies to the questions
isplayed below.]
awson Consulting, which began operations on December 1,
ad the following accounts and amounts on December
I. The I. Lawson, Capital account balance at December 1
as $0 and the owner invested $21,680 cash in the
ɔmpany on December 2. On December 31, the company's
ccounts and amounts for the month of December are
nown in the table below:
$ 14,000 I. Lawson, Withdrawals
6,300 Services revenue
8,300 Rent expense
4,620 Wages expense
21,680
$ 3,300
17,400
3,800
8,000
Cash
Accounts receivable
Equipment
Accounts payable
I. Lawson, Capital
ie above information to prepare a December 31
ce sheet for Lawson Consulting. Hint: The ending I.
in, Capital account balance as of December 31 is
80.
LAWSON CONSULTING
Balance Sheet
s receivable
s payable
Total equity
2$
2$
Transcribed Image Text:equired information "he following information applies to the questions isplayed below.] awson Consulting, which began operations on December 1, ad the following accounts and amounts on December I. The I. Lawson, Capital account balance at December 1 as $0 and the owner invested $21,680 cash in the ɔmpany on December 2. On December 31, the company's ccounts and amounts for the month of December are nown in the table below: $ 14,000 I. Lawson, Withdrawals 6,300 Services revenue 8,300 Rent expense 4,620 Wages expense 21,680 $ 3,300 17,400 3,800 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital ie above information to prepare a December 31 ce sheet for Lawson Consulting. Hint: The ending I. in, Capital account balance as of December 31 is 80. LAWSON CONSULTING Balance Sheet s receivable s payable Total equity 2$ 2$
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