oogle Chrome File Edit View History Bookmarks Profiles Tab Window Help Inbox (240) - abigailoforiwaa x MGmail xiConnect - Home × x M Question 4 - Mid-Term Exam + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... Mid-Term Exam Required information Saved 4 [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. Part 3 of 4 Cash $ 12,040 Cash withdrawals by owner Accounts receivable 13,720 Office supplies 2,990 Rent expense Land 45,940 Office equipment 17,710 Consulting revenue Salaries expense Telephone expense Ask Accounts payable 8,230 Miscellaneous expenses Mc Graw Hill Owner investments 83,660 $ 1,760 13,720 3,210 6,690 870 680 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet December 31 Assets Cash $ 12,040 Accounts payable Liabilities $ 8,230 Office supplies 2,990 Office equipment 17,710 Total liabilities $ 8,230 Accounts receivable Land 13,720 Equity 45,940 Owner investments 83,660 < Prev 4 5 of 13 Next > 5 tv 43 Aa He
oogle Chrome File Edit View History Bookmarks Profiles Tab Window Help Inbox (240) - abigailoforiwaa x MGmail xiConnect - Home × x M Question 4 - Mid-Term Exam + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... Mid-Term Exam Required information Saved 4 [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. Part 3 of 4 Cash $ 12,040 Cash withdrawals by owner Accounts receivable 13,720 Office supplies 2,990 Rent expense Land 45,940 Office equipment 17,710 Consulting revenue Salaries expense Telephone expense Ask Accounts payable 8,230 Miscellaneous expenses Mc Graw Hill Owner investments 83,660 $ 1,760 13,720 3,210 6,690 870 680 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet December 31 Assets Cash $ 12,040 Accounts payable Liabilities $ 8,230 Office supplies 2,990 Office equipment 17,710 Total liabilities $ 8,230 Accounts receivable Land 13,720 Equity 45,940 Owner investments 83,660 < Prev 4 5 of 13 Next > 5 tv 43 Aa He
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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M Question 4 - Mid-Term Exam
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ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe...
Mid-Term Exam
Required information
Saved
4
[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.
Part 3 of 4
Cash
$ 12,040
Cash withdrawals by owner
Accounts receivable
13,720
Office supplies
2,990
Rent expense
Land
45,940
Office equipment
17,710
Consulting revenue
Salaries expense
Telephone expense
Ask
Accounts payable
8,230 Miscellaneous expenses
Mc
Graw
Hill
Owner investments
83,660
$ 1,760
13,720
3,210
6,690
870
680
Use the above information to prepare a December 31 balance sheet for Ernst Consulting.
ERNST CONSULTING
Balance Sheet
December 31
Assets
Cash
$ 12,040 Accounts payable
Liabilities
$
8,230
Office supplies
2,990
Office equipment
17,710 Total liabilities
$
8,230
Accounts receivable
Land
13,720
Equity
45,940 Owner investments
83,660
< Prev
4 5
of 13
Next >
5
tv
43
Aa
He](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F80b45471-670e-4c49-990f-b002a1df36f6%2F4a9d21fd-6d1e-4191-8c62-414e520fb93c%2Fxraa5q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:oogle Chrome
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M Question 4 - Mid-Term Exam
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ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe...
Mid-Term Exam
Required information
Saved
4
[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.
Part 3 of 4
Cash
$ 12,040
Cash withdrawals by owner
Accounts receivable
13,720
Office supplies
2,990
Rent expense
Land
45,940
Office equipment
17,710
Consulting revenue
Salaries expense
Telephone expense
Ask
Accounts payable
8,230 Miscellaneous expenses
Mc
Graw
Hill
Owner investments
83,660
$ 1,760
13,720
3,210
6,690
870
680
Use the above information to prepare a December 31 balance sheet for Ernst Consulting.
ERNST CONSULTING
Balance Sheet
December 31
Assets
Cash
$ 12,040 Accounts payable
Liabilities
$
8,230
Office supplies
2,990
Office equipment
17,710 Total liabilities
$
8,230
Accounts receivable
Land
13,720
Equity
45,940 Owner investments
83,660
< Prev
4 5
of 13
Next >
5
tv
43
Aa
He
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