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  3. on october 1. ebony ernst organized ernst consulti

On October 1. Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $84,000...

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Accounting

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On October 1. Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies/3,250 Rent expense $11,360Cash dividends $ 2,000 14,000 Conaulting revenue14,000 3, 550 7,000 760 580 Land 46,000/Salaries exponse Office/equipment//8,000/ Te lephone expense Accounts payable//8,500/Miscollaneous Common Stock expenses 84.000 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings As of October 31 Retained earnings, Oct. 1 dd Owners investment 84,000 84,000 2,000 ess Dividends etained earnings, Oct 31 of 6Next

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