es On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,390 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash $ 13,210 Cash dividends Accounts receivable 13,320 Consulting revenue Office supplies 2,720 Rent expense Office equipment Land 17,350 Salaries expense 45,910 Telephone expense Accounts payable Common stock 7,970 Miscellaneous expenses 83,390 $ 1,460 13,320 2,950 6,290 830 640 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet
es On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,390 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash $ 13,210 Cash dividends Accounts receivable 13,320 Consulting revenue Office supplies 2,720 Rent expense Office equipment Land 17,350 Salaries expense 45,910 Telephone expense Accounts payable Common stock 7,970 Miscellaneous expenses 83,390 $ 1,460 13,320 2,950 6,290 830 640 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter1: Introduction To Accounting And Business
Section: Chapter Questions
Problem 3BE: Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected...
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