1. Business
  2. Accounting
  3. on october 1 ebony ernst organized ernst consulting on october...

Question: on october 1 ebony ernst organized ernst consulting on october...

Question details

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 companys records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $14, 890 Cash withdrawals by owner 930 12, 820 2,530 5, 780 790 12, 820 Consulting revenue 2,290 Rent expense 45,960 Salaries expense 16,900 Telephone expense 7,670 Miscellaneous expenses 83, 010Using the above information prepare an October income statement for the business ERNST CONSULTING Income Statement

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution