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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 $ 8,000 A. Lopez, Capital A. Lopez, Withdrawals 3,500 2,500 Consulting revenue 1,500 1,000 4,000 1,300 2,400 300 Required 1 Required 2 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 $11,600 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. Required 3 Rental revenue Salaries expense Rent expense Complete this question by entering your answers in the tabs below. Advertising expense Utilities expense METRIX Income Statement Prepare a December income statement for the business. $ 11,600 2,000 12,000 500 3,000 2,000 400 200 Answer is not complete.
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