Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company's records show the following items and amounts. $14,890 12,820 2,290 45,960 16,900 7,670 83,010 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments 790 610 sing the above information prepare an October statement of owner's equity for Ernst Consulting. ERNST CONSULTING Statement of Owner's Equity
Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company's records show the following items and amounts. $14,890 12,820 2,290 45,960 16,900 7,670 83,010 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments 790 610 sing the above information prepare an October statement of owner's equity for Ernst Consulting. ERNST CONSULTING Statement of Owner's Equity
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 7E: FedEx Corporation had the following revenue and expense account balances (in millions) for a recent...
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Question
The options i have for the drop down are
Add net income
add net loss
add owners investments
add withdraws by owner
less net income
less net loss
less owners investments
less withdraws by owner
accountas payabe
accounts recivable
cash
cash withdraws by owner
consulting fees earned
misc expenses
rent expense
salaries expense
telephone expense
offie supplies
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