Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In January, Tongo, Incorporated, a branding consultant, had the following transactions a. Received $14,600 cash for consulting services rendered in January b. Issued common stock
In January, Tongo, Incorporated, a branding consultant, had the following transactions a. Received $14,600 cash for consulting services rendered in January b. Issued common stock to investors for $9,000 cash. c. Purchased $16,400 of equipment, paying 25 percent in cash and Swing the rest on a note due in 2 years. d. Received $11,500 cash for consulting services to be performed in February e Bought and received $1,360 of supplies on account Received utility bill for January for $1,910, due February 15 9. Consulted for customers in January for fees totaling $22,900, due in February h. Received $12,200 cash for consulting services rendered in December 1. Paid $680 toward supplies purchased in (e) Required: Prepare the journal entry for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transactlon list Journal entry worksheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started