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 $ 3,300 17,400 3,800 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital the above information to prepare a December income ement for the business. LAWSON CONSULTING Income Statement
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 $ 3,300 17,400 3,800 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital the above information to prepare a December income ement for the business. LAWSON CONSULTING Income Statement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
$ 3,300
17,400
3,800
8,000
Cash
Accounts receivable
Equipment
Accounts payable
I. Lawson, Capital
the above information to prepare a December income
ement for the business.
LAWSON CONSULTING
Income Statement](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5b452d21-154e-4b1a-bf1d-e4e8811e16f2%2F7de9cf1f-fe2d-47df-bb4e-8ef831e0d874%2F8kdyi3h_processed.jpeg&w=3840&q=75)
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
$ 3,300
17,400
3,800
8,000
Cash
Accounts receivable
Equipment
Accounts payable
I. Lawson, Capital
the above information to prepare a December income
ement for the business.
LAWSON CONSULTING
Income Statement
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