On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company’s records show the following items and amounts. Cash $ 14,890 Cash withdrawals by owner $ 930 Accounts receivable 12,820 Consulting revenue 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment 16,900 Telephone expense 790 Accounts payable 7,670 Miscellaneous expenses 610 Owner investments 83,010
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company’s records show the following items and amounts. Cash $ 14,890 Cash withdrawals by owner $ 930 Accounts receivable 12,820 Consulting revenue 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment 16,900 Telephone expense 790 Accounts payable 7,670 Miscellaneous expenses 610 Owner investments 83,010
Chapter1: Financial Statements And Business Decisions
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On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company’s records show the following items and amounts.
| Cash | $ | 14,890 | Cash withdrawals by owner | $ | 930 | |
| 12,820 | Consulting revenue | 12,820 | ||||
| Office supplies | 2,290 | Rent expense | 2,530 | |||
| Land | 45,960 | Salaries expense | 5,780 | |||
| Office equipment | 16,900 | Telephone expense | 790 | |||
| Accounts payable | 7,670 | Miscellaneous expenses | 610 | |||
| Owner investments | 83,010 | |||||
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