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Please TYPE answer and not use handwriting. Its often hard to understand handwriting. Thank you. In January, Tongo, Inc., a branding consultant, had the following
Please TYPE answer and not use handwriting. Its often hard to understand handwriting. Thank you.
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 $9,500 cash for consulting services rendered in January b. Issued common stock to investors for $10,000 cash. c. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in two years. d. Received $7,500 cash for consulting services to be performed in February. e. Bought and received $1,000 of supplies on account. f. Received utility bill for January for $1.250, due February 15. g. Consulted for customers in January for fees totaling $15.900, due in February h. Received $12,000 cash for consulting services rendered in December i. Paid $500 toward supplies purchased in (e). Assets Liabilities Stockholders' Equity Service Revenue 9.500 Required Information [The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions a. Recelved $9,500 cash for consulting services rendered in January b. Issued common stock to Investors for $10.000 cash. c. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due In 2 years. d. Recelved $7,500 cash for consulting services to be performed in February e. Bought and received $1,000 of supplies on account. f Received utility bill for January for $1,250, due February 15. g. Consulted for customers in January for fees totaling $15.900. due In February h. Received $12,000 cash for consulting services rendered in December 1. Pald $500 toward supplies purchased in (e). Prepare an unadjusted trial balance for Tongo. Inc. for the month ended January 31. TONGO, INC. Unadjusted Trial Balance Account Name Debit Credit TotalsStep by Step Solution
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