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Required information The following information applies to the questions displayed below) On December 1, Jasmin...

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Accounting

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Required information The following information applies to the questions displayed below) On December 1, Jasmin Ernst organized Ernst Consulting On December 3, the owner contributed $82,650 in assets in exchange for its common stock to launch the business, On December 31 the company's records show the following items and amounts Cach $ 15,00 Cash dividends 5460 Accounts receivable 12.410 Consulting revenue 12,410 Office supplies 1,70 Rent 2,140 office equipment 16,450 Salacia 5.100 Lund 46,000 Telephone expense Accounts payabile 6.000 Miscellaneous Common stock 12,650 Using the above information prepare a December income statement for the business about:blank Saved The assets of a company total $740,000; the liabilities, $220,000. What are the net assets? Multiple Choice

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