Adjusting Entries: A Simple Intro X + tion.com/ext/map/indechtml?_con contexternal_browser0&launchUnt=https%253A252F%252Fnewconnect.mheducation.com%252F-/act Save Help Required information Use the following information for exercise 15 to 18 LO P2 The following information applies to the questions displayed below) On October 1. Ebony Erst organized Ernst Consulting: on October 3, the owner contributed $82,650 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 so. Cash Accounts receivable Office supplies Land office equipment Accounts payable Cowon stock $15,200 12,410 1,77e 46,00 16,450 6,06 52,650 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 460 12,430 2,140 750 560 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: 9 O X Adjusting Entries. A Simple Intro X + cation.com/ext/map/index.html?_conaconexternal browser to launch Uriahttp%253A%252F%252Fnewconnecteducation.com%252F/activity Saved Help Save C office equipment Accounts payable Common stock 16,450 6,06 82,650 Telephone expense Miscellaneous expenses 750 560 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $36,570 cash and $46,080 in land in exchange for its common stock b. The company's $16,450 equipment purchase is paid in cash c. The accounts payable balance of $6,060 consists of the $1,770 office supplies purchase and $4.290 in employee salaries yet to be paid. d. The company's rent, telephone, and miscellaneous expenses are paid in cash o. No cash has been collected on the $12.410 consulting fees earned Using the above information prepare an October 31 statement of cash flows for Emst Consulting (Cash outflows should be indicated by a minus sign.) ERNST CONSULTING Statement of Cash Flows For Month Ended October Cash Bows from operating active Cashelved from customers 5 0 9 LO Adjusting Entries: A Simple Intro X + tion.com/ext/map/indechtml?_con contexternal_browser0&launchUnt=https%253A252F%252Fnewconnect.mheducation.com%252F-/act Save Help Required information Use the following information for exercise 15 to 18 LO P2 The following information applies to the questions displayed below) On October 1. Ebony Erst organized Ernst Consulting: on October 3, the owner contributed $82,650 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 so. Cash Accounts receivable Office supplies Land office equipment Accounts payable Cowon stock $15,200 12,410 1,77e 46,00 16,450 6,06 52,650 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 460 12,430 2,140 750 560 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: 9 O X Adjusting Entries. A Simple Intro X + cation.com/ext/map/index.html?_conaconexternal browser to launch Uriahttp%253A%252F%252Fnewconnecteducation.com%252F/activity Saved Help Save C office equipment Accounts payable Common stock 16,450 6,06 82,650 Telephone expense Miscellaneous expenses 750 560 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $36,570 cash and $46,080 in land in exchange for its common stock b. The company's $16,450 equipment purchase is paid in cash c. The accounts payable balance of $6,060 consists of the $1,770 office supplies purchase and $4.290 in employee salaries yet to be paid. d. The company's rent, telephone, and miscellaneous expenses are paid in cash o. No cash has been collected on the $12.410 consulting fees earned Using the above information prepare an October 31 statement of cash flows for Emst Consulting (Cash outflows should be indicated by a minus sign.) ERNST CONSULTING Statement of Cash Flows For Month Ended October Cash Bows from operating active Cashelved from customers 5 0 9 LO