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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected
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. Cash Accounts receivable Notes receivable Office supplies Prepaid insurance Equipment Accounts payable Notes payable Unearned revenue Required: $ 8,800 A. Lopez, Capital $ 13,200 3,900 A. Lopez, Withdrawals 2,400 2,900 Consulting revenue 14,000 1,900 Rental revenue 900 1,400 Salaries expense 3,400 6,000 Rent expense 2,400 2,580 Advertising expense 2,800 Utilities expense 480 280 380 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 $13,200 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 < Prev 8 of 8 Next 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 0 Mout Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December statement of owner's equity. The A. Lopez, Capital account balance at December 1 was $0, and the owner invested $13,200 cash in the company on December 2. METRIX Statement of Owner's Equity A. Lopez, Capital, December 1 $ 0 $ 0 < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December 31 balance sheet. Hint: Use the A. Lopez, Capital account balance calculated in part 2. METRIX Balance Sheet $ 0 $ 0 $ 0 < Required 2 Required 3
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