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Required information [The following information applies to the questions displayed below.] Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained
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 $0 and the owner invested $14,540 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 $ 7,000 Dividends $ 1,900 Accounts receivable 4,900 Service revenue 13,200 Equipment 6,900 Rent expense 2,400 Accounts payable 3,360 Wages expense 8,000 Common stock 14,540 Use the above information to prepare a June statement of retained earnings for Lawson Consulting. LAWSON CONSULTING Statement of Retained Earnings 0 Add: Cash dividends $ 0 Add: Net income
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