Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Liu Zhang operates Lawson Consulting, which began operations in June 1st. The Retained Earnings account balance at June 1st was $0 and the owner invested

Liu Zhang operates Lawson Consulting, which began operations in June 1st. The Retained Earnings account balance at June 1st was $0 and the owner invested $13,010 cash in the company on June 1. On June 30th the company's records show the following accounts and amounts for the month of June.

image text in transcribed

Required information The following information applies to the questions displayed below Liu Zhang operates Lawson Consulting, which began operations on June 1 The Retained Earnings account balance at June 1 was 50 and the owner invested $13,010 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June . Cash Accounts receivable Equipment Accounts payable Common stock $ 5,588 4,600 6,600 3,098 13,010 Dividends Service revenue Rent expense Wages expense $ 1,600 12,300 2,100 8,000 Use the above information to prepare a June income statement for the business LAWSON CONSULTING Income Statement Service revenue $ 123 s 3000 | Wages expense Rentgene Tel Expenses The income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Regulation Of The London Stock Exchange Share Trading, Fraud And Reform 1914-1945

Authors: Chris Swinson

1st Edition

0367887568, 9780367887568

More Books

Students also viewed these Accounting questions

Question

Do you prefer to schedule your classes in the morning? Yes No

Answered: 1 week ago