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 $85,360 in as exchange for its common stock to launch the business. On December 31, the company's records show the follo and amounts. $ 7,010 18,350 4,480 19,360 Salaries expense 46,040 Telephone expense 9,740 85,360 Cash Cash dividends $ 3,390 Accounts receivable Office supplies Office equipment Consulting revenue Rent expense 18,350 4,820 8,370 Land 910 Miscellaneous expenses 720 Accounts payable Common stock
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 $85,360 in as exchange for its common stock to launch the business. On December 31, the company's records show the follo and amounts. $ 7,010 18,350 4,480 19,360 Salaries expense 46,040 Telephone expense 9,740 85,360 Cash Cash dividends $ 3,390 Accounts receivable Office supplies Office equipment Consulting revenue Rent expense 18,350 4,820 8,370 Land 910 Miscellaneous expenses 720 Accounts payable Common stock
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:HW Chapter 01 i
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Land
46,040 Telephone expense
9,740
85,360
910
Accounts payable
Common stock
Miscellaneous expenses
720
art 1 of 3
Using the above information prepare a December income statement for the business.
ERNST CONSULTING
Income Statement
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![9 Question 2 - HW Chapter 01 -
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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 $85,360 in assets in
exchange for its
and amounts.
mmon stock to launch the business. On December 31, the company's records show the following items
$ 7,010
18,350 Consulting revenue
4,480
19,360
46,040 Telephone expense
Cash
Cash dividends
$ 3,390
18,350
4,820
8,370
910
Accounts receivable
Office supplies
Office equipment
Rent expense
Salaries expense
Land
Miscellaneous expenses
720
Accounts payable
Common stock
9,740
85,360
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%2F950ccb0b-88f0-424e-a789-46ed3bd2a086%2F2059378f-b489-4584-a917-cf79982d48ce%2Fpt2idmm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:9 Question 2 - HW Chapter 01 -
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eto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#
E Class Financial Ac...
- My Apps
Digital Resources...
HG Weight Loss Hom...
Togetherall
The Top 15 Comp..
JO United OPT - Top..
ル Th
oter 01 i
Saved
Не
!
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 $85,360 in assets in
exchange for its
and amounts.
mmon stock to launch the business. On December 31, the company's records show the following items
$ 7,010
18,350 Consulting revenue
4,480
19,360
46,040 Telephone expense
Cash
Cash dividends
$ 3,390
18,350
4,820
8,370
910
Accounts receivable
Office supplies
Office equipment
Rent expense
Salaries expense
Land
Miscellaneous expenses
720
Accounts payable
Common stock
9,740
85,360
Using the above information prepare a December income statement for the business.
ERNST CONSULTING
Income Statement
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