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C1-9 what am I possibly missing?! They balance out so Im a little lost... Required information Use the following information for the Exercises below. (Algo)
C1-9 what am I possibly missing?! They balance out so Im a little lost...
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 $83,660 in ass 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 $ 12,040 Cash withdrawals by owner 13,720 Consulting revenue 2,990 Rent expense 45,940 Salaries expense 17,710 Telephone expense 8,230 Miscellaneous expenses 83,660 $ 1,760 13,720 3,210 6,690 870 680 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting ERNST CONSULTING Balance Sheet December 31 Assets Liabilities hand $ 45,940 Accounts payable $ 8,230 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. Answer is not complete. ERNST CONSULTING Balance Sheet December 31 Assets Liabilities Accounts payable 8,230 Land Office equipment Cash Accounts receivable Office supplies $ 45,940 17710 12,040 13,720 2,990 Equity J. Ernst, Capital 84. 170 84,170 Total assets $ 92,400 Total liabilities and equity S 92,400 Step by Step Solution
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