Required information The following information applies to the questions displayed below. On December 1, Jasmin...
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Required information The following information applies to the questions displayed below. On December 1, Jasmin Emst organized Ernst Consulting, On December 3, the owner contributed $85,160 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash $ 7,520 Cash withdrawals by owner $ 3,190 Accounts receivable 17,950 Consulting revenue 17,950 Office supplies 4,310 Rent expense 4,720 Land 46,000 Salaries expense office equipment 19,190 Telephone expense 900 Accounts payable 9,680 Miscellaneous expenses 710 Owner investments 85,160 3,220 Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint J. Emst. Capital on December 1 was $0. ERNST CONSULTING Statement of Owner's Equity Ernst Capital, December 1 $ 0 0 S 0
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