Required information [The following information applies to the questions displayed below.] 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. $14,890 12,820 2,290 45,960 16,900 7,670 83,010 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments 790 610 sing the above information prepare an October statement of owner's equity for Ernst Consulting. ERNST CONSULTING Statement of Owner's Equity
Required information [The following information applies to the questions displayed below.] 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. $14,890 12,820 2,290 45,960 16,900 7,670 83,010 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments 790 610 sing the above information prepare an October statement of owner's equity for Ernst Consulting. ERNST CONSULTING Statement of Owner's Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The options i have for the drop down are
Add net income
add net loss
add owners investments
add withdraws by owner
less net income
less net loss
less owners investments
less withdraws by owner
accountas payabe
accounts recivable
cash
cash withdraws by owner
consulting fees earned
misc expenses
rent expense
salaries expense
telephone expense
offie supplies
![Required information
[The following information applies to the questions displayed below.]
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
Consulting revenue
Rent expense
Salaries expense
930
Accounts receivable
12,820
2,290
45,960
16,900
7,670
83,010
12,820
2,530
5,780
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Telephone expense
Miscellaneous expenses
790
610
Using the above information prepare an October statement of owner's equity for Ernst Consulting.
ERNST CONSULTING
Statement of Owner's Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffe46867b-8e32-4051-86e0-c12e0211534e%2F7028a3b6-d9be-490f-89c3-259062422a1f%2F5s94sd_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
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
Consulting revenue
Rent expense
Salaries expense
930
Accounts receivable
12,820
2,290
45,960
16,900
7,670
83,010
12,820
2,530
5,780
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Telephone expense
Miscellaneous expenses
790
610
Using the above information prepare an October statement of owner's equity for Ernst Consulting.
ERNST CONSULTING
Statement of Owner's Equity
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