Question

Use the following information for exercise 15 to 18 LO P2 The following information applies to the questions displayed below] On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $83,850 in assets to taunch the business. On October 31, the company's records show the following items and amounts $ 11,580 Cash withdrawals by owner Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments 13,860 Consulting revenue 3,140 Rent expense 46,000 Salaries expense 17,820 Telephone expense 8,400 Miscellaneous expenses 83,850 1,898 13,860 3,390 6,860 880 690 Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Emst Consulting Balance Sheet

Answer 1