Question 3 O Question 3 - HW Chapter 019 Dashboardezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/questi. ûist Class Financial Ac...H My AppsDigital Resources... HG Weight Loss Hom..A Togetherall BB The Top 15 Comp.. UO United OPT - Top. i The World's 11 Gr...国Rapter 01 ASavedHelpSave & ExitSubmitCheck my workRequired information[The following information applies to the questions displayed below.]On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets inexchange for its common stock to launch the business. On December 31, the company's records show the following itemsand amounts.$ 7,01018,350 Consulting revenue$ 3,39018,3504,820CashCash dividendsAccounts receivableOffice suppliesOffice equipmentLand4,480Rent expense8,37091019,360 Salaries expense46,040 Telephone expense9,740 Miscellaneous expenses85,360720Accounts payableCommon stockUsing the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings onDecember 1 was $0.ERNST CONSULTINGStatement of Retained Earning ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/questi.Task ListE Class Financial Ac...H My AppsDigital Resources..HG Weight Loss Hom...A Togetherall 8e The Top 15 Comp.LO United OPT - Top.The World's 11 Gr.W Chapter 01 6SavedHelpSave & Exit3.Check myOn December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets inexchange for its common stock to launch the business. On December 31, the company's records show the following itemsand amounts.2 of 3Cash$ 7,010 Cash dividends18,350 Consulting revenue4,48019,360 Salaries expense46,040 Telephone expense9,740 Miscellaneous expenses85,360$ 3,390Accounts receivableOffice suppliesOffice equipment18,3504,820Rent expense8,370910LandAccounts payable720Common stockpokUsing the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings onDecember 1 was $0.ntntERNST CONSULTINGncesStatement of Retained EarningRetained earnings, December 1$...< Prev3 4of 8Next >

On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 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. $ 7,010 Cash dividends 18,350 Consulting revenue 4,480 Rent expense 19,360 Salaries expense 46,040 Telephone expense 9,740 85,360 $ 3,390 18,350 4,820 8,370 Cash Accounts receivable Office supplies Office equipment Land 910 Miscellaneous expenses 720 Accounts payable Common stock g the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on mber 1 was $0. IOT CONSULTING

On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 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. $ 7,010 Cash dividends 18,350 Consulting revenue 4,480 Rent expense 19,360 Salaries expense 46,040 Telephone expense 9,740 85,360 $ 3,390 18,350 4,820 8,370 Cash Accounts receivable Office supplies Office equipment Land 910 Miscellaneous expenses 720 Accounts payable Common stock g the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on mber 1 was $0. IOT CONSULTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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