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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 $84,920...

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Accounting

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On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $84,920 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $ 8.450 Cash withdrawals by Owner Accounts receivable 14,919 Consulting revenue Office supplies 4,080 Rent expense Land 46,020 Salaries expense Office equipment 18,868 Telephone expense Accounts payable 9,280 Miscellaneous expenses Owner investments 84,920 $ 2,930 14,910 4,420 7,900 860 680 Exercise 1-16 Preparing a statement of owner's equity LO P2 Using the above information prepare an October statement of owner's equity for Erst Consulting. ERNST CONSULTING Statement of Owner's Equity

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