ed Saved Help Save & Exit Submit k mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question [The following information applies to the questions displayed below. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $11,360 Cash withdrawals by owner $ 2,000 Accounts receivable 14,000 Consulting revenue 14,000 office supplies 3,250 Rent expense 3,550 Land 46,000 Salaries expense 7,000 office equipment 18,000 Telephone expense 760 Accounts payable 8,500 Miscellaneous expenses 580 Owner investments 84,000 Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting. Answer is not complete. ERNST CONSULTING 000 Balance Sheet As of October 31 Assets Liabilities Cash Accounts receivable O Office supplies Land: Office equipment 66000 $ 11,360 Accounts payable 8,500 14,000 3,250 Total liabilities 46,000 8,500 Equity 18,000 Emst. Capital 84,110 $ 92.610) S 92.610 < Prev 4 of 5 Next > 30 A 299