Use the following information for exercise 15 to 18 LO P2 [The following...
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Accounting
Use the following information for exercise 15 to 18 LO P2
[The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,360 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts. Retained earnings, October 1 as $0.
Cash
$
7,010
Cash dividends
$
3,390
Accounts receivable
18,350
Consulting revenue
18,350
Office supplies
4,480
Rent expense
4,820
Land
46,040
Salaries expense
8,370
Office equipment
19,360
Telephone expense
910
Accounts payable
9,740
Miscellaneous expenses
720
Common stock
85,360
Exercise 1-15 Preparing an income statement LO P2
Using the above information prepare an October income statement for the business.
there is another row after the "0"
And these are the options for the left columns
ERNST CONSULTING Income Statement ERNST CONSULTING Income Statement Accounts payable Accounts receivable Cash Cash dividends
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