Question
Required information [The following information applies to the questions displayed below.) In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received
Required information [The following information applies to the questions displayed below.) In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $16,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,000 cash. c. Purchased $16,100 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,500 cash for consulting services to be performed in February. e. Bought and received $1,550 of supplies on account. Received utility bill for January for $1,960, due February 15. g. Consulted for customers in January for fees totaling $19,600, due in February. h. Received $14,300 cash for consulting services rendered in December. Paid $775 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONGO, INCORPORATED Unadjusted Trial Balance Account Name Cash Accounts Receivable Supplies: Equipment Common Stock Notes Payable (long-term) Deferred Revenue Accounts Payable Utilities Expense Debit Credit Totals $ 0 $ 0
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