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 30 balance sheet for Lawson Consuming. Hint. The ending Retained Earnings account balance as of June 30 is $600.
Homework Answers
Answer
--Complete Balance Sheet is provided below:
| Lawson Consulting | |||
| Balance Sheet | |||
| at 30 June | |||
| ASSETS | LIABILITIES | ||
| Cash | $5,500 | Accounts payable | $3,090 |
| Accounts receivables | $4,600 | ||
| Equipment | $6,600 | EQUITY | |
| Common Stock | $13,010 | ||
| Retained earnings ($12300 - 2100 - 8000-1600) | $600 | ||
| Total Equity | $13,610 | ||
| Total Assets | $16,700 | Total Liabilities & Equity | $16,700 |
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LiuZhang operates Lawson Consulting, which began operations in June 1st
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.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 statement of retained earnings for Lawson Consulting. Hint Net Income for June is $2,200.
Liu Zhang operates Lawson Consulting, which began operations in June 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 on June 1. The Retained Earnings account balance...
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...
Liu Zhang operates Lawson Consulting, which began operations 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. 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.
begining capital balance 17500 Llu Zhang operates Lawson Consulting, which began operations on June 1. On...
begining capital balance 17500
Llu 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 Accounts receivable Accounts payable L. Zhang, withdrawals $10, see 5,600 4,600 2,60e Service revenue Equipment Rent expense Wages expense $15,300 7,600 3,100 8,000 Use the above information to prepare a June 30 balance sheet for Lawson Consulting, Hint Compute the owner's capital account balance as of June...
Required information [The following information applies to the questions displayed below.) Liu Zhang operates Lawson Consulting,...
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,...
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,...
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,...
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,...
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...
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 statement of retained earnings for Lawson Consulting. Hint Net Income for June is $2,200.
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 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.
begining capital balance 17500
Llu 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 Accounts receivable Accounts payable L. Zhang, withdrawals $10, see 5,600 4,600 2,60e Service revenue Equipment Rent expense Wages expense $15,300 7,600 3,100 8,000 Use the above information to prepare a June 30 balance sheet for Lawson Consulting, Hint Compute the owner's capital account balance as 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 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 $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 $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...
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