Hello, I need help with the following question(s): Connect x C Chegg Study | Gui

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Hello, I need help with the following question(s):

Connect x C Chegg Study | Guided So ??Secure ! https.//newconnect.mheducation.com/flow/connect.html My Blackboard Content- ? ? Ch 1 Exercises i Help Save & Exlt Submlt Saved Check my work 13 Required information Use the following information for exercises 15 to 18 LO P2 The folowing information applies to the guestions cisplayed belowJ Part 3 of 4 On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts 3.5 points eBock Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock 11,360 Cash dividends 14,9 Consulting revenue 3,25 Rent expense 46,8 Salaries expense 18,0 Telephone expense 8,500 Miscellaneous expenses 84,989 $ 2,900 14,000 Hint 3,S5 7,900 760 580 Print References Exercise 1-17 Preparing a balance sheet LO P2 Mc Graw Hill Prev Next > 13 14 of 15 7-27 PM O Type here to search ) 6/12/2018

Explanation / Answer

* Calculation of retained earnings

ERNST CONSULTING Balance Sheet As on October 31 Assets Amount Liabilities Amount Cash $   11,360 Accounts payable $     8,500 Accounts receivable $   14,000 Office supplies $     3,250 Land   $   46,000 Office equipment $   18,000 Stockholders equity Common Stock $   84,000 Retained Earnings * $         110 $   92,610 $   92,610

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