Question 7

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 $85,360 in assets to launch the business. On December 31 , the company's records show the following items and amounts. Exercise 120 (Algo) Preparing a balance sheet LO P2 Jse the above information to prepare a December 31 balance sheet for Ernst Consulting