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Required information [The following information applies to the questions displayed below.] Lawson Consulting, which began operations on December 1, had the following accounts and
Required information [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 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 Accounts receivable Equipment Accounts payable I. Lawson, Capital $ 5,000 I. Lawson, Withdrawals 4,500 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 trial balance. Services revenue LAWSON CONSULTING Trial Balance December 31 $ Debit Credit 12,000 Rent expense Wages expense 2,000 6,000 I. Lawson, Capital Totals $ 20,000 $ 0
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