liu zhang operates lawson consulting, which began operations on june 1. on june 30, the company's records show the following accounts and amounts for the month of june cash $11,000 service revenue $15,600 accounts receivable $5,700 equipment $7,700 accounts payable $4,700 rent expense $3,200 L. Zhang withdrawals $2,700 wages expense $8,000 Use the above information to prepare a June 30 balance sheet for Lawson Consulting. Hint: Compute the owner's capital account balance as of June 30 LAWSON CONSULTING Balance Sheet As of June 30 Assets: Liabilities: Cash $11,000 Accounts payable $4,700 Accounts receivable 5,700 Equipment 7,700 Equity: L. Zhang, Capital Total Assets $24,400 $4,700
liu zhang operates lawson consulting, which began operations on june 1. on june 30, the company's records show the following accounts and amounts for the month of june cash $11,000 service revenue $15,600 accounts receivable $5,700 equipment $7,700 accounts payable $4,700 rent expense $3,200 L. Zhang withdrawals $2,700 wages expense $8,000 Use the above information to prepare a June 30 balance sheet for Lawson Consulting. Hint: Compute the owner's capital account balance as of June 30 LAWSON CONSULTING Balance Sheet As of June 30 Assets: Liabilities: Cash $11,000 Accounts payable $4,700 Accounts receivable 5,700 Equipment 7,700 Equity: L. Zhang, Capital Total Assets $24,400 $4,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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liu zhang operates lawson consulting, which began operations on june 1. on june 30, the company's records show the following accounts and amounts for the month of june
cash $11,000 service revenue $15,600
accounts payable $4,700 rent expense $3,200
L. Zhang withdrawals $2,700 wages expense $8,000
Use the above information to prepare a June 30
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