Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The ending I.

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Chapter2: Asset And Liability Valuation And Income Recognition
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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
Cash
$ 3
Accounts receivable
17
Equipment
Accounts payable
I. Lawson, Capital
3
4,620 Wages expense
21,680
8
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
$23,980.
LAWSON CONSULTING
Balance Sheet
Accounts receivable
Accounts payable
Total equity
2$
$
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 Cash $ 3 Accounts receivable 17 Equipment Accounts payable I. Lawson, Capital 3 4,620 Wages expense 21,680 8 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 $23,980. LAWSON CONSULTING Balance Sheet Accounts receivable Accounts payable Total equity 2$ $
information
'g information applies to the questions
low.]
sulting, which began operations on December 1,
wing accounts and amounts on December
son, Capital account balance at December 1
the owner invested $21,680 cash in the
December 2. On December 31, the company's
d amounts for the month of December are
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
eceivable
ayable
Capital
information to prepare a December 31
for Lawson Consulting. Hint: The ending I.
il account balance as of December 31 is
LAWSON CONSULTING
Balance Sheet
Total equity
$
2$
Transcribed Image Text:information 'g information applies to the questions low.] sulting, which began operations on December 1, wing accounts and amounts on December son, Capital account balance at December 1 the owner invested $21,680 cash in the December 2. On December 31, the company's d amounts for the month of December are 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 eceivable ayable Capital information to prepare a December 31 for Lawson Consulting. Hint: The ending I. il account balance as of December 31 is LAWSON CONSULTING Balance Sheet Total equity $ 2$
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