On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,460 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments $ 6,650 Cash withdrawals by owner Consulting revenue Rent expense 18,650 4,640 46,000 Salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 $ 3,490 18,650 4,920 8,500 890 700 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement

On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,460 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments $ 6,650 Cash withdrawals by owner Consulting revenue Rent expense 18,650 4,640 46,000 Salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 $ 3,490 18,650 4,920 8,500 890 700 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement

Name: On December 1, Jasmin Ernst organized Ernst Consulting. On December 3
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Description: On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,460 in assets tolaunch the business. On December 31, the company's records show the following items and amounts.CashAccounts receivableOffice suppliesLa

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 5PA: Inner Resources Company started its business on April 1, 2019. The following transactions occurred...

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