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Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December

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Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested $10,500 cash in the company on December 2. On December 31, the company's accounts and amounts for the month of December are shown in the table below: Cash $ 5,000 I. Lawson, Withdrawals $ 1, 500 Accounts receivable 4,500 Services revenue 12, 000 Equipment 6,500 Rent expense 2 , 000 Accounts payable 3, 000 Wages expense 6, 000 I. Lawson, Capital 10,500 Use the above information to prepare a December statement of owner's equity for Lawson Consulting. Hint. Ne income for December is $4,000. LAWSON CONSULTING Statement of Owner's Equity For Month Ended December 31 1. Lawson, Capital, December 1 Add: Net income $ 0

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