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Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock $ 5,000 4,500 Dividends Services
Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock $ 5,000 4,500 Dividends Services revenue 6,500 Rent expense 3,000 Wages expense 10,500 $ 1,500 12,000 2,000 6,000 Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The endi account balance as of December 31 is $2,500. Assets: Cash Accounts receivable Equipment LAWSON CONSULTING Balance Sheet As of December 31 Liabilities: Accounts payable Total Liabilities Equity: Common stock Dividends Retained earnings 0 Total Equity 0 Total Assets $ 0 Total Liabilities and Equity $ 0
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