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. QS 2-15 (Algo) Preparing an income statement LO P1 LAWSON CONSULTING Income Statement Use the above information to prepare a December income statement for the business. < Prev $ 2,700 15,600 3,200 8,000 S 10 11 12 of 12 Next >
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. QS 2-15 (Algo) Preparing an income statement LO P1 LAWSON CONSULTING Income Statement Use the above information to prepare a December income statement for the business. < Prev $ 2,700 15,600 3,200 8,000 S 10 11 12 of 12 Next >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)
![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 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F492121c0-3843-4585-9c4f-58f7a1b7b43d%2Fcef6a8fb-898a-44a9-8290-8bc1f69a8d09%2Feybs1mo_processed.jpeg&w=3840&q=75)
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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