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please answer the whole question! 5805 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31,
please answer the whole question!
5805 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 $ 10,800 Common stock $ 17,200 Accounts receivable 4,900 Dividends 3,400 Notes receivable 3,900 Consulting revenue 19,000 Office supplies 2,900 Rental revenue 1,900 Prepaid insurance 2,400 Salaries expense 4,400 Equipment 11,000 Rent expense 3,400 Accounts payable 5,780 Advertising expense 680 Notes payable 3,800 Utilities expense 480 Unearned revenue 580 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0 3. Prepare a December 31 balance sheet Hint: Use the Retained Earnings 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 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings 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 Cash $ 10,800 Common stock $ 17,200 Accounts receivable 4,900 Dividends 3,400 Notes receivable 3,900 Consulting revenue 19,800 office supplies 2,900 Rental revenue 1,900 Prepaid insurance 2,400 Salaries expense 4,400 Equipment 11,000 Rent expense 3,400 Accounts payable 5,780 Advertising expense 680 Notes payable 3,800 Utilities expense 480 Unearned revenue 580 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings 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 statement of retained earnings. The Retained Earnings account balance at December 1 was $0. METRIX Statement of Retained Earnings Retained earnings, December 1 $ 1. Prepare a December Income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings 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 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2 METRIX Balance Sheet Step by Step Solution
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