Given data below answer the question. Cash Accounts receivable $ 10,200 Cash dividends 15,200 Consulting revenue Office

Given data below answer the question.

Transcribed Image Text:

Cash Accounts receivable $ 10,200 Cash dividends 15,200 Consulting revenue Office supplies 3,550 Rent expense $ 2,340 15,200 3,910 Office equipment 18,310 Land 45,990 Accounts payable Common stock Salaries expense Telephone expense 8,740 Miscellaneous expenses 84,310 7,350 790 610 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. Answer is not complete. ERNST CONSULTING Balance Sheet Assets Liabilities Cash Accounts receivable $ 10,200 15,200 Accounts payable $ 8,740 Office supplies 3,550 Total liabilities 8,740 Land 45,990 Equity Office equipment 18,310 Common stock 84,310 Retained earnings 200 Total equity 84,510 Total assets $ 93,250 Total liabilities and equity Cash Accounts receivable $ 10,200 Cash dividends 15,200 Consulting revenue Office supplies 3,550 Rent expense $ 2,340 15,200 3,910 Office equipment 18,310 Land 45,990 Accounts payable Common stock Salaries expense Telephone expense 8,740 Miscellaneous expenses 84,310 7,350 790 610 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. Answer is not complete. ERNST CONSULTING Balance Sheet Assets Liabilities Cash Accounts receivable $ 10,200 15,200 Accounts payable $ 8,740 Office supplies 3,550 Total liabilities 8,740 Land 45,990 Equity Office equipment 18,310 Common stock 84,310 Retained earnings 200 Total equity 84,510 Total assets $ 93,250 Total liabilities and equity