In January, Tongo, Incorporated, 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 ( Sample ) Received $9,500 cash for consulting services rendered in January Issued common stock to investors for $10,000 cash Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in two years Received $7,500 cash for consulting services to be performed in February Bought and received $1,000 of supplies on account Received utility bill for January for $1,250, due February 15 Consulted for customers in January for fees totaling $15,900, due in February Received $12,000 cash for consulting services rendered in December Paid $500 toward supplies purchased in (e) Required 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 Assets, Liabilities, and Stockholder's Equity with a minus sign )

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In January, Tongo, Incorporated, a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under

In January, Tongo, Incorporated, 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.

(Sample) Received $9,500 cash for consulting services rendered in January.
Issued common stock to investors for $10,000 cash.
Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in two years.
Received $7,500 cash for consulting services to be performed in February.
Bought and received $1,000 of supplies on account.
Received utility bill for January for $1,250, due February 15.
Consulted for customers in January for fees totaling $15,900, due in February.
Received $12,000 cash for consulting services rendered in December.
Paid $500 toward supplies purchased in (e).

Required:

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 Assets, Liabilities, and Stockholder's Equity with a minus sign.)