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. Received

image text in transcribed

Required information [The following information applies to the questions displayed below.] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $19,200 cash for consulting services rendered in January. b. Issued common stock to investors for $11,000 cash. c. Purchased $21,900 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $9,350 cash for consulting services to be performed in February. e. Bought and received $1,090 of supplies on account. f. Received utility bill for January for $1,950, due February 15. g. Consulted for customers in January for fees totaling $18,600, due in February. h. Received $18,100 cash for consulting services rendered in December 1. Paid $545 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. Account Name TONGO, INCORPORATED Unadjusted Trial Balance Debit Credit Totals

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

Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

4th edition

978-0133428469, 013342846X, 133428370, 978-0133428377

More Books

Students also viewed these Accounting questions

Question

the student find other ways to meet his needs?

Answered: 1 week ago