Po3. Use the following information for the Quick Studies below. (Algo)[The following information applies to the questions displayed below.]Lawson Consulting had the following accounts and amounts on December 31.CashAccounts receivableEquipmentAccounts payableCommon stockIQS 2-15 (Algo) Preparing an income statement LO P1Use the above information to prepare a December income statement for the business.LescenLAWSON CONSULTINGIncome StatementITOM4▬▬▬E$ 14,000 Dividends6,300 Services revenue8,300 Rent expense4,620 Wages expense21,680ATS23PepS$ 3,30017,4003,8008,000HOME

Name: Po3. Use the following information for the Quick Studies below. (Algo)
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Description: Po3. Use the following information for the Quick Studies below. (Algo)[The following information applies to the questions displayed below.]Lawson Consulting had the following accounts and amounts on December 31.CashAccounts receivableEquipmentAccount

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Accounting

Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock Lunes QS 2-15 (Algo) Preparing an income statement LO P1 Use the above information to prepare a December income statement for the business. en *** LAWSON CONSULTING Income Statement IN 1000 *** $ 14,000 Dividends 6,300 Services revenue 8,300 Rent expense 4,620 Wages expense 21,680 S FAX I T 2235 HOM S $ 3,300 17,400 3,800 8,000 M

Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock Lunes QS 2-15 (Algo) Preparing an income statement LO P1 Use the above information to prepare a December income statement for the business. en * LAWSON CONSULTING Income Statement IN 1000 * $ 14,000 Dividends 6,300 Services revenue 8,300 Rent expense 4,620 Wages expense 21,680 S FAX I T 2235 HOM S $ 3,300 17,400 3,800 8,000 M

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 7PA: Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then...

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Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 26,536 73,177 92,006 8,463 236,486 $ 436,668 $ 110,905 83,735 163,500 78,528 $ 436,668 1 Year Ago Exercise 13-6 (Algo) Common-size percents LO P2 $ 30,416 52,701 71,730 8,063 213,528 $ 376,438 $ 64,254 86,581 163,500 62,103 $ 376,438 For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 32,337 42,689 45,004 3,629 199,741 $ 323,400 $ 43,543 70,757 163,500 45,600 $ 323,400 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change…
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