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pls let me know these two. in first one, it said answer is not complete but i don't know what should i put anymore.. Required
pls let me know these two. in first one, it said answer is not complete but i don't know what should i put anymore..
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock $ 15,200 Cash divid ds 12,410 Consulting revenue 1,770 Rent expense 16,450 salaries expense 46,080 Telephone expense 6,060 Miscellaneous expenses 82,650 $ 460 12,410 2,140 5,300 750 560 Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. Answer is not complete. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 $ 0 Add: Net income 3,660 3,660 Less: Dividends 460 Retained earnings, December 31 3,200 ! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. > Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock $ 15,200 Cash dividends 12,410 Consulting revenue 1,770 Rent expense 16,450 Salaries expense 46,080 Telephone expense 6,060 Miscellaneous expenses 82,650 $ 460 12,410 2,140 5,300 750 560 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet Assets Liabilities Cash Accounts receivable 0 Office supplies Land Office equipment 0 $ 0 $ 0Step by Step Solution
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