Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June1 was $0 and the owner invested $19,640 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. $ 2,900 16,200 3,400 8,000 Cash $12,000 5,900 7,900 4,260 19,640 Dividends Accounts receivable Equipment Accounts payable Service revenue Rent expense Wages expense Common stock Use the above information to prepare a June statement of retained earnings for Lawson Consulting. LAWSON CONSULTING Statement of Retained Earnings For Month Ended June 30 Retained earnings, June 1 2$ Add: Net income Less: Cash dividends Retained earnings, June 30
Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June1 was $0 and the owner invested $19,640 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. $ 2,900 16,200 3,400 8,000 Cash $12,000 5,900 7,900 4,260 19,640 Dividends Accounts receivable Equipment Accounts payable Service revenue Rent expense Wages expense Common stock Use the above information to prepare a June statement of retained earnings for Lawson Consulting. LAWSON CONSULTING Statement of Retained Earnings For Month Ended June 30 Retained earnings, June 1 2$ Add: Net income Less: Cash dividends Retained earnings, June 30
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
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Problem 7E: FedEx Corporation had the following revenue and expense account balances (in millions) for a recent...
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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 $19,640 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.
$12,000
5,900
$ 2,900
16,200
3,400
Cash
Dividends
Accounts receivable
Service revenue
Equipment
Accounts payable
Rent expense
7,900
4,260
19,640
Wages expense
8,000
Common stock
Use the above information to prepare a June statement of retained earnings for Lawson Consulting.
LAWSON CONSULTING
Statement of Retained Earnings
For Month Ended June 30
Retained earnings, June 1
$
Add: Net income
Less: Cash dividends
Retained earnings, June 30
$4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3c8d2e18-0064-4d73-a0e9-9892ce8aa988%2F0baecfcc-bf08-41b9-992f-9a729303c3b8%2F4ehyk9_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 $19,640 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.
$12,000
5,900
$ 2,900
16,200
3,400
Cash
Dividends
Accounts receivable
Service revenue
Equipment
Accounts payable
Rent expense
7,900
4,260
19,640
Wages expense
8,000
Common stock
Use the above information to prepare a June statement of retained earnings for Lawson Consulting.
LAWSON CONSULTING
Statement of Retained Earnings
For Month Ended June 30
Retained earnings, June 1
$
Add: Net income
Less: Cash dividends
Retained earnings, June 30
$4
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