On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 15,200 Cash withdrawals by owner 12,410 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments the above information to prepare a December 31 balance et for Ernst Consulting.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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nformation
'g information applies to the questions
low.]
er 1, Jasmin Ernst organized Ernst Consulting.
er 3, the owner contributed $82,650 in assets to
usiness. On December 31, the company's
v the following items and amounts.
$ 15,200
12,410 Consulting revenue
1,770 Rent expense
46,080 Salaries expense
16,450 Telephone expense
6,060 Miscellaneous expenses
82,650
Cash withdrawals by owner
$ 460
12,410
2,140
5,300
eceivable
plies
ipment
ayable
750
560
stments
nformation to prepare a December 31 balance
Consulting.
ERNST CONSULTING
Balance Sheet
$
$
Transcribed Image Text:nformation 'g information applies to the questions low.] er 1, Jasmin Ernst organized Ernst Consulting. er 3, the owner contributed $82,650 in assets to usiness. On December 31, the company's v the following items and amounts. $ 15,200 12,410 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash withdrawals by owner $ 460 12,410 2,140 5,300 eceivable plies ipment ayable 750 560 stments nformation to prepare a December 31 balance Consulting. ERNST CONSULTING Balance Sheet $ $
!
Required information
[The following information applies to the questions
displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting.
On December 3, the owner contributed $82,650 in assets to
launch the business. On December 31, the company's
records show the following items and amounts.
$ 15,200
12,410 Consulting revenue
1,770 Rent expense
46,080 Salaries expense
16,450 Telephone expense
6,060 Miscellaneous expenses
82,650
Cash
Cash withdrawals by owner
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Use the above information to prepare a December 31 balance
sheet for Ernst Consulting.
ERNST CONSULTING
Balance Sheet
$
$
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 15,200 12,410 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash Cash withdrawals by owner Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet $ $
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