Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1....
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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 accounts and amounts for the month of December. Cash $ 8,200 A Lopez, Capital $ 12,400 Accounts receivable 3,600 A. Lopez, Withdrawals 2,100 Notes receivable 2,600 Consulting revenue 12.500 Office supplies 1.600 Bental revenue. 600 Prepaid insurance 1,100 Salaries expense 3.100 Equipment 4,500 Rent expense 2,100 Accounts payable 1,220 Advertising expense 420 Notes payable 2.500 Utilities expense 220 Unearned revenue 320 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 $12,400 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 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 $ 8,200 A Lopez, Capital $ 12,400 Accounts receivable 3,600 A. Lopez, Withdrawals 2,100 Notes receivable 2,600 Consulting revenue 12.500 Office supplies 1.600 Bental revenue. 600 Prepaid insurance 1,100 Salaries expense 3.100 Equipment 4,500 Rent expense 2,100 Accounts payable 1,220 Advertising expense 420 Notes payable 2.500 Utilities expense 220 Unearned revenue 320 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 $12,400 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
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