Liu Zhang operates Lawson Consulting, which began operations in June 1st. The Retained Earnings account balance at June 1st was $0 and the owner invested $13,010 cash in the company on June 1. On June 30th the company's records show the following accounts and amounts for the month of June.
Cash | $5,500 | Dividends | $1,600 |
---|---|---|---|
Accounts receivable | 4,600 | Service revenue | 12,300 |
Equipment | 6,600 | Rent expense | 2,100 |
Accounts payable | 3,090 | Wages expense | 8,000 |
Common stock | 13,010 |
Use the above information to prepare a June statement of retained earnings for Lawson Consulting. Hint Net Income for June is $2,200.
Complete solution
LAWSON CONSULTING | |
Statement of Retained earnings | |
Year month ended June 30 | |
Retained earnings, June 1 | $ 0.00 |
Add: Net income | $ 2,200.00 |
Subtotal | $ 2,200.00 |
Less: Cash Dividends | $ 1,600.00 |
Retained earnings, June 30 | $ 600.00 |
I found the answer already complete but maybe the in third line the heading subtotal was missing and the date of the statement is missing.
Liu Zhang operates Lawson Consulting, which began operations inJune 1st. The Retained Earnings account balance...
Liu Zhang operates Lawson Consulting, which began operations in
June 1st. The Retained Earnings account balance at June 1st was $0
and the owner invested $13,010 cash in the company on June 1. On
June 30th the company's records show the following accounts and
amounts for the month of June.
Required information The following information applies to the questions displayed below Liu Zhang operates Lawson Consulting, which began operations on June 1 The Retained Earnings account balance at June 1...
Liu
Zhang operates Lawson Consulting, which began operations in June
1st. The Retained Earnings account balance at June 1st was $0 and
the owner invested $13,010 cash in the company on June 1. On June
30th the company's records show the following accounts and amounts
for the month of June.Cash$5,500Dividends$1,600Accounts receivable4,600Service revenue12,300Equipment6,600Rent expense2,100Accounts payable3,090Wages expense8,000Common stock13,010Use the above information to prepare a June 30 balance sheet for Lawson Consuming. Hint. The ending Retained Earnings account balance as of June 30...
Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $14,540 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $ 7,000 4,900 6,900 3,360 14,540 Dividends Service revenue Rent expense Wages expense $ 1,900 13,200 2,400 8,000 Use the above information...
Required information [The following information applies to the questions displayed below.] Liu Zhang operates Lawson Consulting, which began operations on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash$5,000Service revenue$12,000Accounts receivable4,500Equipment6,500Accounts payable3,500Rent expense2,000L. Zhang, Withdrawals1,500Wages expense6,000Use the above information to prepare a June statement of owner's equity for Lawson Consulting. The owner's capital account balance at May 31 was $0, and the owner invested $10,000 cash in the company on June 1.
Required information [The following information applies to the questions displayed below.) Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $20,660 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $13,000 6,100 8,100 4,440 20,660 Dividends Service revenue Rent expense Wages...
Required information (The following information applies to the questions displayed below.) Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $14,540 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $ 7,000 4,900 6,900 3,360 14,540 Dividends Service revenue Rent expense...
Required information [The following information applies to the questions displayed below.] Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $20,660 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. $ 3,100 $13,000 6,100 8,100 4,440 20,660 Cash Dividends Service revenue Accounts receivable 16,800 3,600 8,000 Rent expense Equipment...
Required information [The following information applies to the questions displayed below.] Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $20,660 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $13,000 6,100 8,100 4,440 20,660 Dividends Service revenue Rent expense Wages...
Required information [The following information applies to the questions displayed below) Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $14,540 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $ 7,000 4,900 6,900 3,360 14,540 Dividends Service revenue Rent expense...
Required information [The following information applies to the questions displayed below.] Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $20,660 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $13,000 6,100 8,100 4,440 20,660 Dividends Service revenue Rent expense Wages...