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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on Dec shows the following selected accounts and amounts for the
Angela Lopez owns and manages a consulting firm called Metrix, which began operations on Dec shows the following selected accounts and amounts for the month of December. Cash $ 11,600 Common stock $ 18,800 Accounts receivable 5,300 Dividends 3,800 Notes receivable 4,300 Consulting revenue 21,000 Office supplies 3,300 Rental revenue 2,300 Prepaid insurance 2,800 Salaries expense 4,800 Equipment 13,000 Rent expense 3,800 Accounts payable 7,060 Notes payable 4,200 Advertising expense Utilities expense 760 560 Unearned revenue 660 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance a 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calcula Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3
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