Determine the missing amount from each of the separate situations given below. + Equity 37,000 + $ Assets = Liabilities + (a) | = | $ 155,000 + (b) $ 130,000 = $ 59,000 + | (c) | $ 213,000 = 1 + + $ 62,000 + Required informatione World Of Videos [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,200 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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $10,710 14,800 3,450 46,030 18,170 8,630 84,200 Cash dividend Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,180 14,800 3,750 7,160 780 600 ing the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,200 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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $10,710 Cash dividends 14,800Consulting revenue 3,450 Rent expense 46,030 Salaries expense 18,170 Telephone expense 8,630 Miscellaneous expenses 84,200 $ 2,180 14,800 3,750 7,160 780 600 sing the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings $ 0 Required information [The following information applies to the questions displayed below. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,200 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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $10,710 14,800 3,450 46,030 18,170 8,630 84,200 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,180 14,800 3,750 7,160 780 600 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $65,000 cash and office equipment valued at $36,000 in the company in exchange for its common stock. b. The company purchased an office suite for $47,000 cash. c. The company purchased office equipment for $5,800 cash. d. The company purchased $3,700 of office supplies and $1,900 of office equipment on credit. $970 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,300 for the service. g. The company designed a financial plan for another client and immediately collected a $8,100 cash fee. h. The company paid $1,300 cash in dividends to the owner (sole shareholder). i. The company received $3,300 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $950 cash on the equipment purchased in transaction d. k. The company paid $2,000 cash for the office secretary's wages for this period. Required: 2. Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign.) Liabilities Equity Accounts + Receivable Assets Office Supplies Office + Equipment + Office Suite = Accounts Payable Common Stock Cash + + - Dividends + Revenues - Expenses 10000000000000000000
