On October 1, Ebony Ernst organized
Ernst Consulting; on October 3, the owner contributed $83,390 in assets to
launch the business. On October 31, the company’s records show the following
items and amounts.
Cash
|
$
|
12,670
|
Cash dividends
|
$
|
2,000
|
|
Accounts receivable
|
13,320
|
Consulting revenues
|
13,320
|
|||
Office supplies
|
2,720
|
Rent expense
|
2,950
|
|||
Land
|
45,910
|
Salaries expense
|
6,290
|
|||
Office equipment
|
17,350
|
Telephone expense
|
830
|
|||
Accounts payable
|
7,970
|
Miscellaneous expenses
|
640
|
|||
Common stock
|
83,390
|
|||||
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