Homework Answers
| Prepare an October income statement for the business. | ||
| REAL SOLUTIONS | ||
| Income Statement | ||
| For Month Ended October 31 | ||
| Revenues : | ||
| Consulting fees earned | $ 16000 | |
| Expenses: | ||
| Salaries expense | $6400 | |
| Rent expense | 2880 | |
| Telephone Expense | 760 | |
| Miscellaneous expense | 580 | |
| Total expenses | 10620 | |
| Net Income | $ 5380 | |
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On October 1, Ebony Ernst organized Emst 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 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $11, 360 14.000 3.250 46.000 18,000 8.500 84.000 Caah withdrawala by owner $2,000 Consulting revenue 14.000 Rent expense 3,550 salaries expense 7.000 Telephone expense 760 Miacellaneous expenses 580 Accountants employed by a particular business as...
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in...
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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $14, 890 Cash withdrawals by owner 930 12, 820 2,530 5, 780 790 12, 820 Consulting revenue 2,290 Rent expense 45,960 Salaries expense 16,900 Telephone expense 7,670 Miscellaneous expenses 83, 010 Using the above information...
On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $85,360 in...
On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $85,360 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 $ 7,010 18,350 4,480 46,040 19,360 9,740 85,360 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,390 18,350...
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On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,390 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 $ 13,210 Cash dividends $ 1,460 Accounts receivable 12,300 Consulting revenue 12,300 Office supplies 2,720 Rent expense 2,950 Land 45,910 Salaries expense 6,290 Office equipment 17,350 Telephone expense 830 Accounts payable 7,970 Miscellaneous expenses 640 Common Stock 83,390 Using the...
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in...
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. Cash $ 14,890 Cash withdrawals by owner $ 930 Accounts receivable 12,820 Consulting fees earned 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment 16,900 Telephone expense 790 Accounts payable 7,670 Miscellaneous expenses 610 Owner investments 83,010
On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,390 in...
On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,390 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 $13,210 12,300 2,720 45,910 17,350 7,970 83,390 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,460 12,300 2,950 6,290 830 640 Using the above...
Un October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,160 in...
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On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $82,890 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 $15, 140 12,720 2,110 46,010 16,780 7.360 82,890 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 830 12,720...
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,310 in...
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,310 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 $ 10,200 Cash dividends $ 2,340 Accounts receivable 15,200 Consulting revenue 15,200 Office supplies 3,550 Rent expense 3,910 Land 45,990 Salaries expense 7,350 Office equipment 18,310 Telephone expense 790 Accounts payable 8,740 Miscellaneous expenses 610 Common Stock 84,310 Using the...
On October 1, Ebony Ernst organized Emst 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 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $11, 360 14.000 3.250 46.000 18,000 8.500 84.000 Caah withdrawala by owner $2,000 Consulting revenue 14.000 Rent expense 3,550 salaries expense 7.000 Telephone expense 760 Miacellaneous expenses 580 Accountants employed by a particular business as...
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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $14, 890 Cash withdrawals by owner 930 12, 820 2,530 5, 780 790 12, 820 Consulting revenue 2,290 Rent expense 45,960 Salaries expense 16,900 Telephone expense 7,670 Miscellaneous expenses 83, 010 Using the above information...
On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $85,360 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 $ 7,010 18,350 4,480 46,040 19,360 9,740 85,360 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,390 18,350...
On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,390 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 $13,210 12,300 2,720 45,910 17,350 7,970 83,390 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,460 12,300 2,950 6,290 830 640 Using the above...
Un October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,160 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 $ 7,520 17,950 4,310 46,000 19,190 9,600 85,160 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,190 17,950...
On October 1, Youssef Taher organized Taher Consulting; on October 3, the owner contributed $84,310 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $ 10,200 Cash withdrawals by owner S 2,340 Accounts receivable 14,310 Consulting fees earned 14,310 Office supplies 3,550 Rent expense 3,910 Land 45,990 Salaries expense 7,350 Office equipment 18,310 Telephone expense 790 Accounts payable 8,740 Miscellaneous expenses 610 Owner investments 84,310 A) Using the above information...
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