Ch Use the following information for exercise 15 to 18 LO P2 [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,390 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $13, 210 13,320 2,720 45,910 17,350 7,970 83,390 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,460 13,320 2,950 6,290 830 640 Exercise 1-15 Preparing an income statement LO P2 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement SE 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 Ernst organized Ernst Consulting: on October 3, the owner contributed $83,390 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments $13,210 13,320 2,720 45,910 17,350 7,970 83,390 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,460 13,320 2,950 6,290 830 640 Exercise 1-16 Preparing a statement of owner's equity LO P2 Using the above information prepare an October statement of owner's equity for Ernst Consulting. ERNST CONSULTING Statement of Owner's Equity $ 0 Use the following information for exercise 15 to 18 LO P2 [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $83,390 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $13, 210 13,320 2,720 45,910 17,350 7,970 83,390 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,460 13,320 2,950 6,290 830 640 Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting, ERNST CONSULTING Balance Sheet
