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 above information prepare an October income statement for the business.
Homework Answers
| Ebony Ernst | ||
| Income Statement | ||
| Particulars | Amount ($) | Amount ($) |
| Revenues | ||
| Consulting Revenue | 15,200 | |
| Total Revenues (a) | 15,200 | |
| Expenses | ||
| Rent Expenses | 3,910 | |
| Salaries Expenses | 7,350 | |
| Telephone Expenses | 790 | |
| Miscellaneous Expenses | 610 | |
| Total Expenses (b) | 12,660 | |
| Net Income (a) - (b) | 2,540 | |
Add Answer to:
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $84,310 in...
On October 1, Youssef Taher organized Taher Consulting; on October 3, the owner contributed $84,310 in...
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...
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
a. The owner invested $18.600 cash in the company in exchange for its common stock b....
a. The owner invested $18.600 cash in the company in exchange for its common stock b. The company purchased supplies for $1,400 cash. C. The owner invested $11,800 of equipment in the company in exchange for more common stock d. The company purchased $380 of additional supplies on credit e. The company purchased land for $10,800 cash Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.)...
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...
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...
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...
On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $82,890 in...
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 $84,580 in...
On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $84,580 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. $2,65 Cash Accounts receivable office supplies Land Office equipment Accounts payable Common Stock 9,390 Cash dividends 16,ee0 Consulting revenue 3,830 Rent expense 45,988Salaries expense 18,550 Telephone expense 9,e60 Miscellaneous expenses 84,588 16,880 4,190 7,570 830 650 Using the above information prepare...
Check my On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed...
Check my On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $85160 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. Part 2 of 4 Cash Accounts receivable office asupplies Land Office equipment Accounts payable Common Stock $ 7,520 Cash dividends 3,190 18,000 4,720 8,220 900 710 18,000 Consulting revenue 10 points 4,310 Rent expense 46,000 Salaries expense 19,190 Telephone...
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...
a. The owner invested $18.600 cash in the company in exchange for its common stock b. The company purchased supplies for $1,400 cash. C. The owner invested $11,800 of equipment in the company in exchange for more common stock d. The company purchased $380 of additional supplies on credit e. The company purchased land for $10,800 cash Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.)...
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...
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...
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 $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 $84,580 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. $2,65 Cash Accounts receivable office supplies Land Office equipment Accounts payable Common Stock 9,390 Cash dividends 16,ee0 Consulting revenue 3,830 Rent expense 45,988Salaries expense 18,550 Telephone expense 9,e60 Miscellaneous expenses 84,588 16,880 4,190 7,570 830 650 Using the above information prepare...
Check my On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $85160 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. Part 2 of 4 Cash Accounts receivable office asupplies Land Office equipment Accounts payable Common Stock $ 7,520 Cash dividends 3,190 18,000 4,720 8,220 900 710 18,000 Consulting revenue 10 points 4,310 Rent expense 46,000 Salaries expense 19,190 Telephone...
Most questions answered within 3 hours.
-
4. How many input & output Key Value Pairs are passed into,
and emitted out of...
asked 18 minutes ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 7 minutes ago -
Oscar Inc. has inventory in Japan valued at 39,051,000 Yen one
year ago. One year ago...
asked 14 minutes ago -
If Canada suffered from "fundamental disequilibrium," and its
government choose not to devalue its currency, a...
asked 23 minutes ago -
Why would your heart not function well if constructed of
skeletal muscle? What is the particular...
asked 26 minutes ago -
Please respond to this essay question in full essay form for
Chemistry 1102 Organic and Biochemistry:...
asked 27 minutes ago -
Determine the head loss and velocity of flow in a water supply main
of 15.0 cm...
asked 29 minutes ago -
A marketing executive who knowingly authorizes a shoddy
defective product to be brought to market is...
asked 38 minutes ago -
Write a psudocode:
1. Define a function called authorize that takes in 2 strings,
uName, and...
asked 43 minutes ago -
What Hall voltage (in mV) is produced by a 0.180 T field applied
across a 2.60...
asked 41 minutes ago -
What mass of ethylene glycol (C2H6O2) must be added to 211.0 g
of water to obtain...
asked 44 minutes ago -
Mary's employer has a defined benefits retirement plan, which
pay 3.2% of her last year's salary...
asked 47 minutes ago