2 3 On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed...

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2 3 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. Required: Use these amounts to prepare a December statement of owner's equity for the company. (Click on the Statement of Owners Equity Tab below.) 4 5 Cash 6 $8,450 L 8 DO 6 Accounts receivable Office supplies Land Office equipment 10 Accounts payable 16,950 4,080 46,020 18,860 9,280 11 Owner investments 84,920 12 Cash withdrawals by owner 2,930 13 Consulting revenue 16,950 14 Rent expense 4,420 15 Salaries expense 7,900 16 Telephone expense 860 17 Miscellaneous expenses 680 18 19 20 21 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be 22 Nothing in this area will be graded, but it will be submitted with your assignment. 24 25 26 2 3 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. Required: Use these amounts to prepare a December statement of owner's equity for the company. (Click on the Statement of Owners Equity Tab below.) 4 5 Cash 6 $8,450 L 8 DO 6 Accounts receivable Office supplies Land Office equipment 10 Accounts payable 16,950 4,080 46,020 18,860 9,280 11 Owner investments 84,920 12 Cash withdrawals by owner 2,930 13 Consulting revenue 16,950 14 Rent expense 4,420 15 Salaries expense 7,900 16 Telephone expense 860 17 Miscellaneous expenses 680 18 19 20 21 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be 22 Nothing in this area will be graded, but it will be submitted with your assignment. 24 25 26

Answer rating: 100% (QA)

Answer Lets now prepare the statement of Owners Eq... View the full answer