Question: What am I still doing wrong here? If possible can you break down the example for me step by step so I can better understand
What am I still doing wrong here? If possible can you break down the example for me step by step so I can better understand
! Required information 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 $83,660 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $12 , 040 Cash withdrawals by owner $ 1, 760 Accounts receivable 13, 720 Consulting revenue 13, 720 Office supplies 2,990 Rent expense 3, 210 Land 45, 940 Salaries expense 6, 690 Office equipment 17, 710 Telephone expense 870 Accounts payable 8, 230 Miscellaneous expenses 680 Owner investments 83, 660 Exercise 1-17 Preparing a balance sheet LO P2Using the above information prepare an October 31 balance sheet for Ernst Consulting. X Answer is not complete. ERNST CONSULTING Balance Sheet Assets Liabilities Land $ 45,940 Accounts payable $ 8,230 Office equipment 17,710 Cash 12,040 Total liabilities 8,230 Accounts receivable 13,720 Equity Office supplies 2,990 Ernst, Capital 84,170 Total assets $ 92,400 Total liabilities and equity $ 92,400