[The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,540 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $12,650 Cash withdrawals by owner $ 1,570 Accounts receivable 13,520 Consulting revenue 13,520 2,850 Rent expense 3,110 Office supplies Land 45,940 Salaries expense 17,530 Telephone expense Office equipment Accounts payable 6,490 850 660 8,110 Miscellaneous expenses Owner investments 83,540 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet
[The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,540 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $12,650 Cash withdrawals by owner $ 1,570 Accounts receivable 13,520 Consulting revenue 13,520 2,850 Rent expense 3,110 Office supplies Land 45,940 Salaries expense 17,530 Telephone expense Office equipment Accounts payable 6,490 850 660 8,110 Miscellaneous expenses Owner investments 83,540 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet
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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