On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,470 in assets to launch the business. On October 31, the company’s records show the following items and amounts.     Cash $ 9,750   Cash withdrawals by owner $ 2,530 Accounts receivable   14,480   Consulting revenue   14,480 Office supplies   3,710   Rent expense   4,070 Land   45,970   Salaries

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On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,470 in assets to launch the business. On October 31, the company’s records show the following items and amounts.
 

 
Cash $ 9,750   Cash withdrawals by owner $ 2,530
Accounts receivable   14,480   Consulting revenue   14,480
Office supplies   3,710   Rent expense   4,070
Land   45,970   Salaries expense   7,450
Office equipment   18,450   Telephone expense   810
Accounts payable   8,900   Miscellaneous expenses   630
Owner investments   84,470    

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On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,470 in assets to launch the business. On October 31, the company’s records show the following items and amounts.

 

 
Cash $ 9,750   Cash withdrawals by owner $ 2,530
Accounts receivable   14,480   Consulting revenue   14,480
Office supplies   3,710   Rent expense   4,070
Land   45,970   Salaries expense   7,450
Office equipment   18,450   Telephone expense   810
Accounts payable   8,900   Miscellaneous expenses   630
Owner investments   84,470        
 

 

Using the above information prepare an October income statement for the business.
 

 
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Using the above information prepare an October income statement for the business.
ERNST CONSULTING
Income Statement
Part 1 of 3
For Month Ended October 31
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Graw
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Transcribed Image Text:C My folder x G The purpo x C My folder x D2L McGraw-H x O Question 2 X O Login O Login x b Login | bar x + Announce X A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddlewar. Q ES O Ch 1: Quiz 4 Save & Exit Soved Help Submit Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement Part 1 of 3 For Month Ended October 31 5 points Mc Graw Hill %24 < Prev 2 3 4 of 5 Score answer > 6:04 PM O Type here to search W Rain... 3/22/2022 10
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