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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

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 companys records show the following items and amounts.

Cash $ 8,450 Cash withdrawals by owner $ 2,930
Accounts receivable 14,910 Consulting revenue 14,910
Office supplies 4,080 Rent expense 4,420
Land 46,020 Salaries expense 7,900
Office equipment 18,860 Telephone expense 860
Accounts payable 9,280 Miscellaneous expenses 680
Owner investments 84,920

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