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need help filling in the remaining question, as it is not complete yet. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the
need help filling in the remaining question, as it is not complete yet.
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 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 $0. Cash Accounts receivable office supplies Land Office equipment Accounts payable Common stock $14,890 12,820 2,290 45,960 16,900 7,670 83,010 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 790 610 Using the above information prepare an October 31 balance sheet for Ernst Consulting. Answer is not complete. ERNST CONSULTING Balance Sheet Llabilities Accounts payable 7,670 Assets Cash Accounts receivable Office supplies Land $ 14,800 12,820 2,290 45,960 16,900 7,670 Office equipment 0 Total assets $ 92,860 Total liabilities and equity IS 7,670 Step by Step Solution
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