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 transcribedimage 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 $12,600 cash for consulting services rendered in January. b. Issued common stock to investors for $9,500 cash. c. Purchased $15,400 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $9,450 cash for consulting services to be performed in February. e. Bought and received $1,070 of supplies on account. f. Received utility bill for January for $1,370, due February 15. g. Consulted for customers in January for fees totaling $25,300, due in February. h. Received $20,900 cash for consulting services rendered in December. i. Paid $535 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONCO INCORPORATED

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

Fundamentals of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia Libby

5th edition

78025915, 978-1259115400, 1259115402, 978-0078025914

More Books

Students also viewed these Accounting questions

Question

Explain the human life value concept

Answered: 1 week ago