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 $19,130 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: $ 11,500 I. Lawson, Withdrawals 5,800 Services revenue Rent expense $ 2,800 15,900 3,300 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital 4,170 Wages expense 19,130 the above information to prepare a December statement wner's equity for Lawson Consulting. Hint. Net income for ember is $4,600. LAWSON CONSULTING Statement of Owner's Equity
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 $19,130 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: $ 11,500 I. Lawson, Withdrawals 5,800 Services revenue Rent expense $ 2,800 15,900 3,300 8,000 Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital 4,170 Wages expense 19,130 the above information to prepare a December statement wner's equity for Lawson Consulting. Hint. Net income for ember is $4,600. LAWSON CONSULTING Statement of Owner's Equity
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
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Problem 2SEQ: On January 24, 20Y8, Niche Consulting collected $5,700 it had hilled its clients for services...
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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 $19,130 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:
$ 11,500 I. Lawson, Withdrawals
5,800 Services revenue
7,800 Rent expense
4,170 Wages expense
19,130
Cash
$ 2,800
Accounts receivable
15,900
Equipment
Accounts payable
I. Lawson, Capital
3,300
8,000
the above information to prepare a December statement
wner's equity for Lawson Consulting. Hint: Net income for
ember is $4,600.
LAWSON CONSULTING
Statement of Owner's Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9179ded-c01f-480f-81a3-263077feb7fd%2Fe574b303-b87b-4933-a3b1-db77234741b8%2Fhe793s_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 $19,130 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:
$ 11,500 I. Lawson, Withdrawals
5,800 Services revenue
7,800 Rent expense
4,170 Wages expense
19,130
Cash
$ 2,800
Accounts receivable
15,900
Equipment
Accounts payable
I. Lawson, Capital
3,300
8,000
the above information to prepare a December statement
wner's equity for Lawson Consulting. Hint: Net income for
ember is $4,600.
LAWSON CONSULTING
Statement of Owner's Equity
![!
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 $19,130 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:
$ 11,500 I. Lawson, Withdrawals
5,800 Services revenue
7,800 Rent expense
4,170 Wages expense
19,130
Cash
$ 2
Accounts receivable
15
Equipment
Accounts payable
I. Lawson, Capital
3
Use the above information to prepare a December statement
of owner's equity for Lawson Consulting. Hint. Net income for
December is $4,600.
LAWSON CONSULTING
Statement of Owner's Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9179ded-c01f-480f-81a3-263077feb7fd%2Fe574b303-b87b-4933-a3b1-db77234741b8%2Fe04mxnl_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 $19,130 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:
$ 11,500 I. Lawson, Withdrawals
5,800 Services revenue
7,800 Rent expense
4,170 Wages expense
19,130
Cash
$ 2
Accounts receivable
15
Equipment
Accounts payable
I. Lawson, Capital
3
Use the above information to prepare a December statement
of owner's equity for Lawson Consulting. Hint. Net income for
December is $4,600.
LAWSON CONSULTING
Statement of Owner's Equity
Expert Solution
Step 1
Statement of owner's equity gives information about the changes in the owner's capital account. Owner's capital account is increased by the net income and new investment and decreased by net loss and owner's withdrawals.
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