(1-19)

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,850 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 $ 11,580 Cash withdrawals by owner 13,860 Consulting revenue 3,140 Rent expense 46,000 Salaries expense 17,820 Telephone expense 8,400 Miscellaneous expenses 83,850 $ 1,890 13,860 3,390 6,860 880 690 Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2 Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2 Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint. J. Ernst, Capital on December 1 was $0. ERNST CONSULTING Statement of Owner's Equity J. Ernst, Capital, December 1 $ 0 0 $ 0