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(Q.1-18) Required information Use the following information for the Exercises below. (Algo) [The following...

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Accounting

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(Q.1-18)

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,850 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $ 11,58 Cash withdrawals by owner 13,860 Consulting revenue 3,140 Rent expense 46,000 Salaries expense 17,820 Telephone expense 8,400 Miscellaneous expenses 83,850 $ 1,890 13,860 3,390 6,860 880 690 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement w

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