![nework Use the following information for exercises 15 to 18 LO P2 The following information applies to the questions displayed below] On October 1, Ebony Enst organized Ernst Consulting: on October 3, the owner contributed exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts. $83,220 in assets in 13,840 Cash dividends s1,280 12,000 2,770 6,120 820 630 Accounta receivable12,000 Consulting revenue office supplien 2.530 Reat expense 5,840 Salaries expense 17,200 Telephone expense 7.810 Misoe1laneous expensen 83,220 Office equipment Accounts payable Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting Balance Sheet C Prev s 7 Next > 2 3 4](http://img.homeworklib.com/questions/e8595bc0-711d-11ea-9be3-3d3db7aba88d.png?x-oss-process=image/resize,w_560)
Homework Answers
![ERNST CONSULTING Balance Sheet As of October 31 Assets Liabilities Cash $13,840Accounts Payable $7.810 Accounts Receivables $12,000 Office Supplies Office Equipment Land $2,530 Equity $17,200 Common Stock $45,840Retained Earnings [Refer working Note 2 below] S380 $91,410 Total Liabilities and Owners Equity $83,220 Total Assets S91.410](http://img.homeworklib.com/questions/e8f0c880-711d-11ea-892a-2bdba2e05785.png?x-oss-process=image/resize,w_560)
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nework Use the following information for exercises 15 to 18 LO P2 The following information applies...
Required information Use the following information for exercises 15 to 18 LO P2 [The following information...
Required information Use the following information for exercises 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 $83,220 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. $ 1,280 12,000 2,770 6,120 820 630 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock...
Required information Use the following information for exercises 15 to 18 LO P2 [The following information...
Required information Use the following information for exercises 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 $83,220 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $13,840 12,000 2,530 45,840 17,200 7,810 83,220...
Use the following information for exercise 15 to 18 LO P2 The following information applies to...
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...
Required information Use the following information for exercise 15 to 18 LO P2 [The following information...
Required information 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 $84,780 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ Cash Accounts receivable Office supplies Land office equipment Accounts payable Owner investments $ 8,990 Cash withdrawals by owner 14,740 Consulting revenue 3,930 Rent expense...
Required information Use the following Information for exercise 15 to 18 LO P2 The following information...
Required information 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 $82.650 in assets to launch the business. On October 31 the company's records show the following items and amounts $15,200 12.410 1,770 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner Investments Cash withdrawals by owner Consulting revenue Rent expense Salaries expense...
Required information Use the following information for exercise 15 to 18 LO P2 [The following information...
Required information 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 $84,000 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ 2,000 14,000 3,550 7,000 760 Cash withdrawals by owner Consulting revenue Rent expense $11,360 Cash 14,000 Accounts receivable office supplies Land office equipment Accounts...
help!!! Use the following information for exercise 15 to 18 LO P2 The following information applies...
help!!!
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 $84.000 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Retained earnings, October 1 as $0. Cash Accounts receivable Office Supplies Land Office equipment Accounts payable Common stock $11,360 14,000...
Required information Use the following Information for exercise 15 to 18 LO P2 (The following information...
Required information 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 $82,650 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ 46e 12,410 2,140 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $15,200 12,410 1,770 46,088 16.450 6,060 82,650 Cash withdrawals...
Use the following information for exercise 15 to 18 LO P2 [The following information applies to...
Use the following information for exercise 15 to 18 LO P2 [The following information applies to the questions displayed below) On October 1, Ebony Emst organized Emnst Consulting, on October 3, the owner contributed $84,000 in assets to launch the business. On October 31, the company's r records show the following items and amounts. withdravala by ower &2,000 Accounts receivable 14, 000 Consulting revenue 14, 000 3,550 7,000 760 580 3,250 Rent 46,000 Salaries expense Land Office equipment payable 8,500...
Required information Use the following information for exercise 15 to 18 LO P2 (The following information...
Required information 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 $84,780 in assets to launch the business. On October 31, the company's records show the following items and amounts. $8,990 owner 0 Cash withdrawals by $ 2.830 Cash Accounts 14,740 Consulting revenue 14,740 receivable Office supplies 3,930 Rent expense 4,300 Land 45,980 Salaries expense...
Required information Use the following information for exercises 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 $83,220 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. $ 1,280 12,000 2,770 6,120 820 630 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock...
Required information Use the following information for exercises 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 $83,220 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $13,840 12,000 2,530 45,840 17,200 7,810 83,220...
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...
Required information 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 $84,780 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ Cash Accounts receivable Office supplies Land office equipment Accounts payable Owner investments $ 8,990 Cash withdrawals by owner 14,740 Consulting revenue 3,930 Rent expense...
Required information 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 $82.650 in assets to launch the business. On October 31 the company's records show the following items and amounts $15,200 12.410 1,770 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner Investments Cash withdrawals by owner Consulting revenue Rent expense Salaries expense...
Required information 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 $84,000 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ 2,000 14,000 3,550 7,000 760 Cash withdrawals by owner Consulting revenue Rent expense $11,360 Cash 14,000 Accounts receivable office supplies Land office equipment Accounts...
help!!!
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 $84.000 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Retained earnings, October 1 as $0. Cash Accounts receivable Office Supplies Land Office equipment Accounts payable Common stock $11,360 14,000...
Required information 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 $82,650 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ 46e 12,410 2,140 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $15,200 12,410 1,770 46,088 16.450 6,060 82,650 Cash withdrawals...
Use the following information for exercise 15 to 18 LO P2 [The following information applies to the questions displayed below) On October 1, Ebony Emst organized Emnst Consulting, on October 3, the owner contributed $84,000 in assets to launch the business. On October 31, the company's r records show the following items and amounts. withdravala by ower &2,000 Accounts receivable 14, 000 Consulting revenue 14, 000 3,550 7,000 760 580 3,250 Rent 46,000 Salaries expense Land Office equipment payable 8,500...
Required information 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 $84,780 in assets to launch the business. On October 31, the company's records show the following items and amounts. $8,990 owner 0 Cash withdrawals by $ 2.830 Cash Accounts 14,740 Consulting revenue 14,740 receivable Office supplies 3,930 Rent expense 4,300 Land 45,980 Salaries expense...
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