Solve with answers: Required Information

$[$The following information applies to the questions displayed below.$]$

On December $1,$ Jasmin Ernst organized Ernst Consulting. On December $3,$ the owner contributed $$84,920$ in assets to

launch the business. On December $31,$ the company's records show the following items and amounts.

Using the above information prepare a December income statement for the business.

Required Information

$[$The following information applies to the questions displayed below.$]$

On December $1,$ Jasmin Ernst organized Ernst Consulting. On December $3,$ the owner contributed $$84\mathrm{.}920$ in assets to

launch the business. On December $31,$ the company's records show the following items and amounts.

Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint. Jasmin Ernst, Capital on

December $1$ was $$0.$

Required Information

$[$The following information applies to the questions displayed below.$]$

On December $1.$ Jasmin Ernst organized Ernst Consulting. On December $3,$ the owner contributed $$84\mathrm{.}920$ in assets to launch the business. On December $31,$ the company's records show the following items and amounts.

$\backslash$table$[[$Cash$,$$$8,450,$Cash withdrawals by owner,$$2,930],[$Accounts receivable,$16,950,$Consulting revenue,$16,950],[$office supplies,$4,980,$Rent expense,$4,420],[$Land$,46,920,$Salaries expense,$7,900],[$office equipment,$18,860,$Telephone expense,$860],[$Accounts payable,$9,280,$Miscellaneous expenses,$680],[$Owner investments,$84,920,,]]$

Use the above information to prepare a December $31$ balance sheet for Ernst Consulting.

Required Informatlon

$[$The following information applies to the questions displayed below.$]$

On December $1.$ Jasmin Ernst organized Ernst Consulting. On December $3,$ the owner contributed $$84\mathrm{.}920$ in assets to

launch the business. On December $31,$ the company's records show the following items and amounts.

Also assume the following:

a$.$ The owner's initial investment consists of $$38\mathrm{.}900$ cash and $$46\mathrm{.}020$ in land.

b$.$ The company's $$18\mathrm{.}860$ equipment purchase is paid in cash.

c$.$ Cash paid to employees is $$2,700.$ The accounts payable balance of $$9\mathrm{.}280$ consists of the $$4\mathrm{.}080$ office supplies purchase and

$$5,200$ in employee salaries yet to be paid.

d$.$ The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash.

e$.$ No cash has yet been collected on the $$16\mathrm{.}950$ consulting revenue earned.

Using the above information prepare a December statement of cash flows for Ernst Consulting.

Note: Cash outflows should be Indleated by a minus slgn$.$