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In January, Tongo, Incorporated, a branding consultant, had the following transactions. Received $10,600 cash for consulting services rendered in January. Issued common stock to investors
In January, Tongo, Incorporated, a branding consultant, had the following transactions.
- Received $10,600 cash for consulting services rendered in January.
- Issued common stock to investors for $15,500 cash.
- Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
- Received $7,750 cash for consulting services to be performed in February.
- Bought and received $1,100 of supplies on account.
- Received utility bill for January for $2,070, due February 15.
- Consulted for customers in January for fees totaling $16,500, due in February.
- Received $13,500 cash for consulting services rendered in December.
- Paid $550 toward supplies purchased in (e).
Required:
Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31.
Required information [The following information applies to the questions displayed below.] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $10,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,500 cash. c. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,750 cash for consulting services to be performed in February. e. Bought and received $1,100 of supplies on account. f. Received utility bill for January for \$2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February. h. Received $13,500 cash for consulting services rendered in December. i. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31Step by Step Solution
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