Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: TH account balance as of December 31 is $1,800.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
Cash
Accounts receivable
Equipment
Accounts payable.
Common stock
$11,500
Dividends
5,800 Services revenue
7,800 Rent expense
4,170 Wages expense
19,130
Assets:
Cash
Equipment
QS 2-17 (Algo) Preparing a balance sheet LO P1
Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The
account balance as of December 31 is $1,800.
LAWSON CONSULTING
Balance Sheet
0
$2,800
15,900
Assets:
Liabilities:
Equity:
Revenues:
3,300
8,000
$
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. Cash Accounts receivable Equipment Accounts payable. Common stock $11,500 Dividends 5,800 Services revenue 7,800 Rent expense 4,170 Wages expense 19,130 Assets: Cash Equipment QS 2-17 (Algo) Preparing a balance sheet LO P1 Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The account balance as of December 31 is $1,800. LAWSON CONSULTING Balance Sheet 0 $2,800 15,900 Assets: Liabilities: Equity: Revenues: 3,300 8,000 $
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