Ch $1$ Homework i

kequirea intormation

Use the following information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Part $1$ of $4$

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On December $1,$ Jasmin Ernst organized Ernst Consulting. On December $3,$ the owner contributed $$85,050$ 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.

$\backslash$table$[[$Cash$,$$$7,950,$Cash dividends,$],[$Accounts receivable,$17,450,$Consulting revenue,$$3,070$