Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [ The following information applies to the questions displayed below. ] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a

Required information
[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% 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.
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).
Required:
Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31.
Answer is not complete.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For School Administrators Tools For School

Authors: Ronald E. Everett, Donald R. Johnson, Bernard W. Madden

3rd Edition

1610487710, 978-1610487719

More Books

Students also viewed these Accounting questions