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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. On June 30,
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[The following information applies to the questions displayed below.] Liu Zhang operates Lawson Consulting, which began operations on June 1. On June 30, the companys records show the following accounts and amounts for the month of June.
Cash | $ | 9,500 | Service revenue | $ | 14,700 | |
Accounts receivable | 5,400 | Equipment | 7,400 | |||
Accounts payable | 4,400 | Rent expense | 2,900 | |||
L. Zhang, Withdrawals | 2,400 | Wages expense | 8,000 | |||
Use the above information to prepare a June income statement for the business.
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