QS 2-15(ALGO)

Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The l Lawson, Capital account balance at December 1 was $0 and the owner invested $18,620 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 Accounts receivable Equipment Accounts payable I. Lawson, Capital $ 11,000 I. Lawson, Withdrawals 5,700 Services revenue 7,700 Rent expense 4,080 Wages expense 18,620 $ 2,700 15,600 3,200 8,000 QS 2-15 (Algo) Preparing an income statement LO P1 Use the above information to prepare a December income statement for the business. LAWSON CONSULTING Income Statement $ 0 0