On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,780 in...
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On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,780 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash withdrawals by owner Consulting revenue Cash $ 15,760 Accounts receivable 12,590 Office supplies 1,960 Rent expense Land 46,030 Salaries expense Office equipment 16,580 Telephone expense Accounts payable 7,250 Miscellaneous expenses Owner investments 82,780 $ 640 12,590 2,270 5,450 760 580 Using the above information prepare a December income statement for the business. On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,780 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash withdrawals by owner Consulting revenue Cash $ 15,760 Accounts receivable 12,590 Office supplies 1,960 Rent expense Land 46,030 Salaries expense Office equipment 16,580 Telephone expense Accounts payable 7,250 Miscellaneous expenses Owner investments 82,780 $ 640 12,590 2,270 5,450 760 580 Using the above information prepare a December income statement for the business.
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Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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