hrome File Edit View History Bookmarks Profiles Tab Window Help Inbox (233) abigailo X Warning! Due to inactiv x M Question 5- Mid-Term x Connect - Getting to K ezto.mheducation.com con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... d-Term Exam i Saved 5 [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable 4 of 4 Office supplies Land Office equipment $ 12,040 Cash withdrawals by owner 13,720 Consulting revenue 2,990 Rent expense 45,940 Salaries expense Accounts payable Owner investments 17,710 Telephone expense 8,230 Miscellaneous expenses 83,660 sk Also assume the following: $ 1,760 13,720 3,210 6,690 870 680 Updates Ava Do you want updates nov Help Save & E a. The owner's initial investment consists of $37,720 cash and $45,940 in land. b. The company's $17,710 equipment purchase is paid in cash. c. Cash paid to employees is $1,450. The accounts payable balance of $8,230 consists of the $2,990 office supplies purchase and $5,240 in employee salaries yet to be paid. d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash. e. No cash has yet been collected on the $13,720 consulting revenue earned. Using the above information prepare a December statement of cash flows for Ernst Consulting. Note: Cash outflows should be indicated by a minus sign. ERNST CONSULTING Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities Cash received from customers $ 0 JUN 11821 6 S < Prev 5 of 13 Next > Étv MacBook Pro A Aa
hrome File Edit View History Bookmarks Profiles Tab Window Help Inbox (233) abigailo X Warning! Due to inactiv x M Question 5- Mid-Term x Connect - Getting to K ezto.mheducation.com con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... d-Term Exam i Saved 5 [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable 4 of 4 Office supplies Land Office equipment $ 12,040 Cash withdrawals by owner 13,720 Consulting revenue 2,990 Rent expense 45,940 Salaries expense Accounts payable Owner investments 17,710 Telephone expense 8,230 Miscellaneous expenses 83,660 sk Also assume the following: $ 1,760 13,720 3,210 6,690 870 680 Updates Ava Do you want updates nov Help Save & E a. The owner's initial investment consists of $37,720 cash and $45,940 in land. b. The company's $17,710 equipment purchase is paid in cash. c. Cash paid to employees is $1,450. The accounts payable balance of $8,230 consists of the $2,990 office supplies purchase and $5,240 in employee salaries yet to be paid. d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash. e. No cash has yet been collected on the $13,720 consulting revenue earned. Using the above information prepare a December statement of cash flows for Ernst Consulting. Note: Cash outflows should be indicated by a minus sign. ERNST CONSULTING Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities Cash received from customers $ 0 JUN 11821 6 S < Prev 5 of 13 Next > Étv MacBook Pro A Aa
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Statement of cash flow
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[The following information applies to the questions displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets to
launch the business. On December 31, the company's records show the following items and amounts.
Cash
Accounts receivable
4 of 4
Office supplies
Land
Office equipment
$ 12,040
Cash withdrawals by owner
13,720
Consulting revenue
2,990
Rent expense
45,940
Salaries expense
Accounts payable
Owner investments
17,710 Telephone expense
8,230 Miscellaneous expenses
83,660
sk
Also assume the following:
$ 1,760
13,720
3,210
6,690
870
680
Updates Ava
Do you want
updates nov
Help
Save & E
a. The owner's initial investment consists of $37,720 cash and $45,940 in land.
b. The company's $17,710 equipment purchase is paid in cash.
c. Cash paid to employees is $1,450. The accounts payable balance of $8,230 consists of the $2,990 office supplies purchase and
$5,240 in employee salaries yet to be paid.
d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash.
e. No cash has yet been collected on the $13,720 consulting revenue earned.
Using the above information prepare a December statement of cash flows for Ernst Consulting.
Note: Cash outflows should be indicated by a minus sign.
ERNST CONSULTING
Statement of Cash Flows
For Month Ended December 31
Cash flows from operating activities
Cash received from customers
$
0
JUN
11821
6
S
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[The following information applies to the questions displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets to
launch the business. On December 31, the company's records show the following items and amounts.
Cash
Accounts receivable
4 of 4
Office supplies
Land
Office equipment
$ 12,040
Cash withdrawals by owner
13,720
Consulting revenue
2,990
Rent expense
45,940
Salaries expense
Accounts payable
Owner investments
17,710 Telephone expense
8,230 Miscellaneous expenses
83,660
sk
Also assume the following:
$ 1,760
13,720
3,210
6,690
870
680
Updates Ava
Do you want
updates nov
Help
Save & E
a. The owner's initial investment consists of $37,720 cash and $45,940 in land.
b. The company's $17,710 equipment purchase is paid in cash.
c. Cash paid to employees is $1,450. The accounts payable balance of $8,230 consists of the $2,990 office supplies purchase and
$5,240 in employee salaries yet to be paid.
d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash.
e. No cash has yet been collected on the $13,720 consulting revenue earned.
Using the above information prepare a December statement of cash flows for Ernst Consulting.
Note: Cash outflows should be indicated by a minus sign.
ERNST CONSULTING
Statement of Cash Flows
For Month Ended December 31
Cash flows from operating activities
Cash received from customers
$
0
JUN
11821
6
S
< Prev
5
of 13
Next >
Étv
MacBook Pro
A
Aa
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