Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Met

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Angela Lopez Owns And Manages A Consulting Firm Called Metrix Which Began Operations On December 1 On December 31 Met 1 (125.44 KiB) Viewed 47 times

Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. $ 12,000 Common stock $ 19,600 Dividends 5,500 4,500 4,000 22,000 Consulting revenue Cash Accounts receivable Notes receivable Office supplies Prepaid insurance Equipment 3,500 Rental revenue 2,500 3,000 Salaries expense 5,000 14,000 Rent expense 4,000 7,700 Advertising expense 800 Accounts payable Notes payable Utilities expense 600 4,400 700 Unearned revenue Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December income statement for the business. METRIX Income Statement Required 1 0 Required 2 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. METRIX Statement of Retained Earnings Retained earnings, December 1 0 0 $ 0 < Required 1 Required 3 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. METRIX Balance Sheet $ 0 0 $ < Required 2 Required 3 > $ 0 0