Question
Return to questic invested $10,500 cash in the company on December 2. On December 31, the company's accounts and amounts for the month of
Return to questic 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 statement of owner's equity for Lawson Consulting. Hint. Net Income for December is $4,000. Answer is not complete. LAWSON CONSULTING Statement of Owner's Equity 1. Lawson, Capital, December 1 Add: Investments by owner 0 10,500 Add Net income 10,500 Less Withdrawals by owner 1. Lawson, Capital, December 31 $ 10,500
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