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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
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 $ 11,000 5,000 4,000 3,000 2,500 11,500 6,100 3,900 600 A. Lopez, Capital A. Lopez, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Advertising expense Utilities expense $ 17,600 3,500 19,500 2,000 4,500 3,500 700 500 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 nvested $17,600 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 0 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 $17,600 cash in the company on December 2. METRIX Statement of Owner's Equity A. Lopez, Capital, December 1 0 0 o 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
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