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In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $16.600 cash for consulting services rendered in January b. Issued common stock
In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $16.600 cash for consulting services rendered in January b. Issued common stock to investors for $15,000 cash. c. Purchased $16,100 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years d. Received $12.500 cash for consulting services to be performed in February e. Bought $1,550 of supplies on account 1 Received utility bill for January for $1,960, due February 15. . Consulted for customers in January for fees totaling $19,600, due in February h. Received $14,300 cash for consulting services rendered in December 1. Paid $775 toward supplies purchased in (el. Credit Debit $12,300 21,700 1,090 7.650 Account Title Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Revenue Note Payable Common Stock Retained Earnings Service Revenue Utilities Expense $ 5,500 2.800 17,000 17.440 Account Receivable 21.700 Beg. Bal 12,300 Beg. Bal End. Bal Supplies 1.090 Equipment 7,6501 Beg Bal Beg. Bal End, Bal End. Bal Unearned Revenue Accounts Payable 5,500 Beg. Bal Beg. Bal End. Bal End, Bal Note Payable Common Stock 17.000 Beg. Bal Beg. Bal End, Bal End. Bal Service Revenue Retained Earnings 17.440 Beg Bal Beg. Bal End Bal End, Bal Utilities Expense Beg Bal End. Bal
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