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Required information E3-18 and E3-19 (Static) Posting to T-Accounts and Creating an Unadjusted Trial Balance [LO 3-3, LO 3-4) [The following information applies to the
Required information E3-18 and E3-19 (Static) Posting to T-Accounts and Creating an Unadjusted Trial Balance [LO 3-3, LO 3-4) [The following information applies to the questions displayed below) In January, Tongo, Incorporated, a branding consultant, had the following transactions a. 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 2 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, 9. Consulted for customers in January for fees totaling $15,900, due in February Received $12,000 cash for consulting services rendered in December L Paid $500 toward supplies purchased in (e). Cash Account Receivable Debit Credit Debit Credit January 1 10,000 January 1 12,500 10,000 January 31+ 12,500 January 31 cos Supplies Equipment Debit Credit Debit Credit January 1 800 January 1 5,000 Supplies Equipment Debit Credit Debit Credit January 1 800 January 1 5,000 January 31 800 January 31 5,000 Debit Accounts Payable Credit 5,000 Debit Deferred Revenue Credit 2,500 January 1 January 1 January 31 5,000 January 31 2,500 Notes Payable Common Stock Debit Credit Dahil nraali Notes Payable Common Stock Debit Credit Debit January 1 Credit 12,000 January 1 January 31 January 31 12,000 Service Revenue Debit Retained Earnings Credit 8,800 Debit Credit January 1 January 1 January 31 8,800 January 31 0 1 Service Revenue Debit Retained Earnings Credit 8,800 Debit Credit January 1 January 1 January 31 8,800 January 31 0 Utilities Expense Debit Credit January 1 January 31
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