Use the following information for exercise 15 to 18 LO P2

[The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,360 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts. Retained earnings, October 1 as $0.

Cash	$	7,010		Cash dividends	$	3,390
Accounts receivable		18,350		Consulting revenue		18,350
Office supplies		4,480		Rent expense		4,820
Land		46,040		Salaries expense		8,370
Office equipment		19,360		Telephone expense		910
Accounts payable		9,740		Miscellaneous expenses		720
Common stock		85,360

Exercise 1-17 Preparing a balance sheet LO P2

Using the above information prepare an October 31 balance sheet for Ernst Consulting.

OPtions for the left column

OPtions for the right column

ERNST CONSULTING Balance Sheet 24 %24 ERNST CONSULTING Balance Sheet Accounts payable Accounts receivable Cash Cash dividends ERNST CONSULTING Balance Sheet Accounts payable Accounts receivable Cash Cash dividends %24 24