Question
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,540 in assets to launch the business. On October 31, the
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,540 in assets to launch the business. On October 31, the company's records show the following items and amounts.
Cash$12,650Cash withdrawals by owner$1,570Accounts receivable13,520Consulting revenue13,520Office supplies2,850Rent expense3,110Land45,940Salaries expense6,490Office equipment17,530Telephone expense850Accounts payable8,110Miscellaneous expenses660Owner investments83,540
Using the above information make a October income statement for the business.
Using the aboveinformation make a October statement of owner's equity for Ernst Consulting.
Using the aboveinformation make a October 31 balance sheet for Ernst Consulting.
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