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Ch 1 Homework 8 Part 1 of 4 7.14 points Kequirea information Use the following information for the Exercises below. (Algo) Saved [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,050 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. Cash $ 7,950 Cash dividends Accounts receivable 17,450 Consulting revenue Office supplies 4,200 Rent expense Office equipment 19,060 Salaries expense Land 46,010 Telephone expense Accounts payable 9,430 Miscellaneous expenses Common stock 85,050 eBook Hint Exercise 1-18 (Algo) Preparing an income statement LO P2 Print Using the above information prepare a December income statement for the business. References ERNST CONSULTING Income Statement $ 3,070 17,450 4,530 8,090 880 690

          Ch 1 Homework
8
Part 1 of 4
7.14
points
Kequirea information
Use the following information for the Exercises below. (Algo)
Saved
[The following information applies to the questions displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,050 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.
Cash
$ 7,950 Cash dividends
Accounts receivable
17,450 Consulting revenue
Office supplies
4,200 Rent expense
Office equipment
19,060 Salaries expense
Land
46,010 Telephone expense
Accounts payable
9,430 Miscellaneous expenses
Common stock
85,050
eBook
Hint
Exercise 1-18 (Algo) Preparing an income statement LO P2
Print
Using the above information prepare a December income statement for the business.
References
ERNST CONSULTING
Income Statement
$ 3,070
17,450
4,530
8,090
880
690

Ch 1 Homework
8
Part 1 of 4
7.14
points
Kequirea information
Use the following information for the Exercises below. (Algo)
Saved
[The following information applies to the questions displayed below.]
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed 85,050 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.
Cash 7,950 Cash dividends
Accounts receivable
17,450 Consulting revenue
Office supplies
4,200 Rent expense
Office equipment
19,060 Salaries expense
Land
46,010 Telephone expense
Accounts payable
9,430 Miscellaneous expenses
Common stock
85,050
eBook
Hint
Exercise 1-18 (Algo) Preparing an income statement LO P2
Print
Using the above information prepare a December income statement for the business.
References
ERNST CONSULTING
Income Statement
3,070
17,450
4,530
8,090
880
690

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