Answered step by step
Verified Expert Solution
Question
1 Approved Answer
this is not correct what am i missing? On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,220 in assets
this is not correct what am i missing? On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,220 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Recounts receivable office supplies Land office equipment Accounts payable Owner investments 613,640 13,140 2,530 45,840 17,200 7.010 53,220 Cash withdrawala by owner 1,280 Consulting revenue 13,140 Rent expense 2,770 Salaries expense 6, 120 Telephone expense 820 Miscellaneous expenses 630 Using the above information prepare an October statement of owner's equity for Ernst Consulting ERNST CONSULTING Statement of Owner's Equity For Month Ended October 31 Emst, Capital, Oct. 1 $ Add: Net income 0 2.800 Less: Withdrawals by owner (Emst. Capital, Oct. 31 2.800 1,280 1,520 5
this is not correct what am i missing?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started