Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,580 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land office equipment Accounts payable Owner investments $9,390 Cash withdrawals by owner 16,820 Consulting revenue 3,830 Rent expense 45,988 Salaries expense 18,550 Telephone expense 9,060 Miscellaneous expenses 84,580 ERNST CONSULTING $ 2,650 16,020 4,190 7,570 830 650 Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2 Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint J. Ernst, Capital on Decem 1 was $0.
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,580 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land office equipment Accounts payable Owner investments $9,390 Cash withdrawals by owner 16,820 Consulting revenue 3,830 Rent expense 45,988 Salaries expense 18,550 Telephone expense 9,060 Miscellaneous expenses 84,580 ERNST CONSULTING $ 2,650 16,020 4,190 7,570 830 650 Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2 Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint J. Ernst, Capital on Decem 1 was $0.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please help me
![!
Required information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,580 in assets to
launch the business. On December 31, the company's records show the following items and amounts.
Cash
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Saved
$9,390 Cash withdrawals by owner
16,020 Consulting revenue
3,830 Rent expense
45,988 Salaries expense
18,550 Telephone expense
9,060 Miscellaneous expenses
84,580
ERNST CONSULTING
Statement of Owner's Equity
$ 2,650
16,020
4,190
7,578
830
650
Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2
Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint. J. Ernst, Capital on December
1 was $0.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2ee68e4a-4eb9-418d-ab3b-579555cf458d%2F86ea9147-dfcb-4258-af33-10d9dd65a2e8%2F4ev43wc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,580 in assets to
launch the business. On December 31, the company's records show the following items and amounts.
Cash
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Owner investments
Saved
$9,390 Cash withdrawals by owner
16,020 Consulting revenue
3,830 Rent expense
45,988 Salaries expense
18,550 Telephone expense
9,060 Miscellaneous expenses
84,580
ERNST CONSULTING
Statement of Owner's Equity
$ 2,650
16,020
4,190
7,578
830
650
Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2
Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint. J. Ernst, Capital on December
1 was $0.
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