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In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under
In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.) a. (Sample) Received $10,300 cash for consulting services rendered in January. b. Issued common stock to investors for $16,500 cash. c. Purchased $15,300 of equipment, paying 25 percent in cash and owing the rest on a note due in two years. d. Received $12,100 cash for consulting services to be performed in February. e. Bought and received $1,030 of supplies on account. f. Received utility bill for January for $2,190, due February 15. g. Consulted for customers in January for fees totaling $20,700, due in February. h. Received $15,500 cash for consulting services rendered in December. i. Paid $515 toward supplies purchased in (e). Assets Liabilities Stockholders' Equity Service Revenue a Cash 10,300 | 10,300 0 0 0 0
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