On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,470 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Office equipment Land Accounts payable Common stock $9,750 Cash dividends 15,620 Consulting revenue 3,710 Rent expense 18,450 Salaries expense 45,970 Telephone expense 8,900 Miscellaneous expenses 84,470 $ 2,530 15,620 4,070 7,450 810 630
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,470 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Office equipment Land Accounts payable Common stock $9,750 Cash dividends 15,620 Consulting revenue 3,710 Rent expense 18,450 Salaries expense 45,970 Telephone expense 8,900 Miscellaneous expenses 84,470 $ 2,530 15,620 4,070 7,450 810 630
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter1: Introduction To Accounting And Business
Section: Chapter Questions
Problem 3BE: Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected...
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