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1 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following
1 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. 02:29:40 Cash $ 10,400 A. Lopez, Capital $ 16,400 Accounts receivable 4,700 A. Lopez, withdrawals 3,200 Notes receivable 3,700 Consulting revenue 18,000 Office supplies 2,700 Rental revenue 1,700 Prepaid insurance 2,200 Salaries expense 4,200 Equipment 10,000 Rent expense 3,200 Accounts payable 5,140 Advertising expense 640 Notes payable 3,600 Utilities expense 440 Unearned revenue 540 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of owner's equity. The A. Lopez, Capital account balance at December 1 was $0, and the owner invested $16,400 cash in the company on December 2 3. Prepare a December 31 balance sheet. Hint: Use the A. Lopez, Capital account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December income statement for the business. METRIX Income Statement Required 2 >
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