On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in...
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On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies office equipment Land Accounts payable Common stock $ 12,040 Cash dividends 13,720 2,990 Consulting revenue Rent expense 17,710 Salaries expense 45,940 Telephone expense 8,230 Miscellaneous expenses 83,660 $ 1,760 13,720 3,210 6,690 870 680 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies office equipment Land Accounts payable Common stock $ 12,040 Cash dividends 13,720 2,990 Consulting revenue Rent expense 17,710 Salaries expense 45,940 Telephone expense 8,230 Miscellaneous expenses 83,660 $ 1,760 13,720 3,210 6,690 870 680 Use the above information to prepare a December 31 balance sheet for Ernst Consulting.
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Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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