Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 15,200 Cash withdrawals by owner 12,410 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement
Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 15,200 Cash withdrawals by owner 12,410 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Required information
[The following information applies to the questions
displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting.
On December 3, the owner contributed $82,650 in assets to
launch the business. On December 31, the company's
records show the following items and amounts.
$ 15,200 Cash withdrawals by owner
12,410 Consulting revenue
1,770 Rent expense
46,080 Salaries expense
16,450 Telephone expense
6,060 Miscellaneous expenses
82,650
Cash
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Using the above information prepare a December income
statement for the business.
ERNST CONSULTING
Income Statement](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2b7b3ccb-e002-4e99-8af0-23a3b0f0ea28%2F1aa6c007-fbf1-4543-8596-ae965ea79820%2F56et8yh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions
displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting.
On December 3, the owner contributed $82,650 in assets to
launch the business. On December 31, the company's
records show the following items and amounts.
$ 15,200 Cash withdrawals by owner
12,410 Consulting revenue
1,770 Rent expense
46,080 Salaries expense
16,450 Telephone expense
6,060 Miscellaneous expenses
82,650
Cash
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Using the above information prepare a December income
statement for the business.
ERNST CONSULTING
Income Statement
![quired information
e following information applies to the questions
played below.]
December 1, Jasmin Ernst organized Ernst Consulting.
December 3, the owner contributed $82,650 in assets to
nch the business. On December 31, the company's
ords show the following items and amounts.
$ 15,200 Cash withdrawals by owner
12,410 Consulting revenue
1,770 Rent expense
46,080 Salaries expense
16,450 Telephone expense
6,060 Miscellaneous expenses
82,650
$ 460
12,410
2,140
5,300
750
560
ash
ccounts receivable
ffice supplies
and
ffice equipment
ccounts payable
wner investments
ie above information prepare a December income
nt for the business.
ERNST CONSULTING
Income Statement](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2b7b3ccb-e002-4e99-8af0-23a3b0f0ea28%2F1aa6c007-fbf1-4543-8596-ae965ea79820%2Ffx5rqfu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:quired information
e following information applies to the questions
played below.]
December 1, Jasmin Ernst organized Ernst Consulting.
December 3, the owner contributed $82,650 in assets to
nch the business. On December 31, the company's
ords show the following items and amounts.
$ 15,200 Cash withdrawals by owner
12,410 Consulting revenue
1,770 Rent expense
46,080 Salaries expense
16,450 Telephone expense
6,060 Miscellaneous expenses
82,650
$ 460
12,410
2,140
5,300
750
560
ash
ccounts receivable
ffice supplies
and
ffice equipment
ccounts payable
wner investments
ie above information prepare a December income
nt for the business.
ERNST CONSULTING
Income Statement
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