Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock Exercise 1-18 (Static) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. Revenues Consulting revenue Total revenues Expenses ERNST CONSULTING Income Statement For Month Ended December 31 $ 11,360 Cash dividends Consulting revenue 14,000 3,250 Rent expense 18,000 Salaries expense 46,000 Telephone expense 8,500 Miscellaneous expenses 84,000 Miscellaneous expenses Rent expense Salaries expense Telephone expense Total expenses 14,000 580 3,550 7,000 760 $ 14,000 11,890 " Prev $ 2,000 14,000 3,550 7,000 760 580 8u 6 a Next
Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock Exercise 1-18 (Static) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. Revenues Consulting revenue Total revenues Expenses ERNST CONSULTING Income Statement For Month Ended December 31 $ 11,360 Cash dividends Consulting revenue 14,000 3,250 Rent expense 18,000 Salaries expense 46,000 Telephone expense 8,500 Miscellaneous expenses 84,000 Miscellaneous expenses Rent expense Salaries expense Telephone expense Total expenses 14,000 580 3,550 7,000 760 $ 14,000 11,890 " Prev $ 2,000 14,000 3,550 7,000 760 580 8u 6 a Next
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 1-18 (static) preparing an income statement LO P2
![education.com/ext/map/index.html?_con=con&external browser=0&launcht ri=https%253A %252F%252Flms.mheducation.com%252Fmghmid
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Requirea information
Use the following information for the Exercises below. (Static)
[The following information applies to the questions displayed below.]
Cash
Accounts receivable
Office supplies
Office equipment
Land
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in assets in
exchange for its common stock to launch the business. On December 31, the company's records show the following items
and amounts.
Accounts payable
Common stock
Exercise 1-18 (Static) Preparing an income statement LO P2
Using the above information prepare a December income statement for the business.
Revenues
Consulting revenue
Total revenues
Expenses
ERNST CONSULTING
Income Statement
For Month Ended December 31
Miscellaneous expenses
Rent expense
Salaries expense
Telephone expense
Total expenses
F1
$ 11,360 Cash dividends
14,000 Consulting revenue
3,250 Rent expense
18,000 Salaries expense
46,000 Telephone expense
8,500 Miscellaneous expenses
84,000
10
F2
14,000
580
3,550
7,000
760
$ 14,000
20
F3
11,890
a
F4
< Prev
9
F5
Saved
$ 2,000
14,000
3,550
7,000
760
580
4
S
5 6
F6
of 8
B
F7
Next >
DII
Shadowhunte
F8
DD
F9](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Febf55d7f-cd86-42df-bbf2-fe8a5ec3b138%2Facdc5157-7b5e-4caa-a35b-e1a1c9bc1893%2Fgdoke7k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:education.com/ext/map/index.html?_con=con&external browser=0&launcht ri=https%253A %252F%252Flms.mheducation.com%252Fmghmid
You lie on April AF Yuri!!! on Ice AF Haikyuu!!
Ver La monja: The... A Seishun Buta Yaro.... P Annabelle 2 AF Another
Requirea information
Use the following information for the Exercises below. (Static)
[The following information applies to the questions displayed below.]
Cash
Accounts receivable
Office supplies
Office equipment
Land
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in assets in
exchange for its common stock to launch the business. On December 31, the company's records show the following items
and amounts.
Accounts payable
Common stock
Exercise 1-18 (Static) Preparing an income statement LO P2
Using the above information prepare a December income statement for the business.
Revenues
Consulting revenue
Total revenues
Expenses
ERNST CONSULTING
Income Statement
For Month Ended December 31
Miscellaneous expenses
Rent expense
Salaries expense
Telephone expense
Total expenses
F1
$ 11,360 Cash dividends
14,000 Consulting revenue
3,250 Rent expense
18,000 Salaries expense
46,000 Telephone expense
8,500 Miscellaneous expenses
84,000
10
F2
14,000
580
3,550
7,000
760
$ 14,000
20
F3
11,890
a
F4
< Prev
9
F5
Saved
$ 2,000
14,000
3,550
7,000
760
580
4
S
5 6
F6
of 8
B
F7
Next >
DII
Shadowhunte
F8
DD
F9
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