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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 $15,600 cash for consulting services rendered in January. b. Issued common stock to investors for $13,000 cash. c. Purchased $16,700 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $9,300 cash for consulting services to be performed in February. e. Bought and received $1,580 of supplies on account f. Received utility bill for January for $1,990, due February 15. g. Consulted for customers in January for fees totaling $23,000, due in February h. Received $17,200 cash for consulting services rendered in December Paid $790 toward supplies purchased in (e) Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. Answer is not complete. TONGO, INCORPORATED Unadjusted Trial Balance Account Name Debit Credit Cash $ 62,500 Accounts Receivable Supplies Equipment Common Stock Notes Payable (long-term) Deferred Revenue Accounts Payable Utilities Expense Service Revenue Account Name Cash Accounts Receivable Supplies Debit $ 62,500 x Equipment Common Stock Notes Payable (long-term) Deferred Revenue Accounts Payable Utilities Expense Service Revenue Totals Credit $ 62,500 $ 0
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