Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December...
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Accounting
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. Cash $ 8,800 Common stock $ 13,200 Accounts receivable 3,900 Dividends 2,400 Notes receivable 2,900 Consulting revenue 14,000 Office supplies 1,900 Rental revenue 900 Prepaid insurance 1,400 Salaries expense 3,400 Equipment 6,000 Rent expense 2,400 Accounts payable 2,580 Advertising expense 480 Notes payable 2,800 Utilities expense 280 Unearned revenue 380 Required: Prepare a December income statement for the business. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. Prepare a December 31 balance
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