Required information Use the following information for the Quick Studies below. [The following information applies to the questions displayed below.] 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. Service revenue $13,500 $7,500 5,000 4,000 Cash Equipment Rent expense Wages expense 7,000 2,500 8,000 Accounts receivable Accounts payable L. Zhang, Withdrawals 2,000 QS 2-12 Preparing an income statement LO P3 Use the above information to prepare a June income statement for the business.
Required information Use the following information for the Quick Studies below. [The following information applies to the questions displayed below.] 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. Service revenue $13,500 $7,500 5,000 4,000 Cash Equipment Rent expense Wages expense 7,000 2,500 8,000 Accounts receivable Accounts payable L. Zhang, Withdrawals 2,000 QS 2-12 Preparing an income statement LO P3 Use the above information to prepare a June income statement for the business.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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![Required information
Use the following information for the Quick Studies below.
[The following information applies to the questions displayed below.]
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.
Service revenue
$13,500
$7,500
5,000
4,000
Cash
Equipment
Rent expense
Wages expense
7,000
2,500
8,000
Accounts receivable
Accounts payable
L. Zhang, Withdrawals
2,000
QS 2-12 Preparing an income statement LO P3
Use the above information to prepare a June income statement for the business.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd7826321-a8ec-4059-9c71-d5ee46bdd961%2Fb623b5a0-a9bc-44b6-93d8-7e26c0760c26%2Fwrewsb.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for the Quick Studies below.
[The following information applies to the questions displayed below.]
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.
Service revenue
$13,500
$7,500
5,000
4,000
Cash
Equipment
Rent expense
Wages expense
7,000
2,500
8,000
Accounts receivable
Accounts payable
L. Zhang, Withdrawals
2,000
QS 2-12 Preparing an income statement LO P3
Use the above information to prepare a June income statement for the business.
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