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Required information [The following information applies to the questions displayed below.] In January, Tongo, Inc., a branding consultant, had the following transactions. Received $9,500 cash

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Required information

[The following information applies to the questions displayed below.]

In January, Tongo, Inc., a branding consultant, had the following transactions.

  1. Received $9,500 cash for consulting services rendered in January.
  2. Issued common stock to investors for $10,000 cash.
  3. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
  4. Received $7,500 cash for consulting services to be performed in February.
  5. Bought and received $1,000 of supplies on account.
  6. Received utility bill for January for $1,250, due February 15.
  7. Consulted for customers in January for fees totaling $15,900, due in February.
  8. Received $12,000 cash for consulting services rendered in December.
  9. Paid $500 toward supplies purchased in (e).
Return to question Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31. Answer is not complete. AL Credit TONGO, INC. Unadjusted Trial Balance At January 31 Account Name Debit Cash $28,000 $ Supplies 1,000 Accounts Receivable 15,900 Equipment 12,000 Notes Payable (long-term) Deferred Revenue Common Stock Retained Earnings Utilities Expense 1,250 Accounts Payable Service Revenue $ 9,000 7,500 10,000 1,750 X 37,400 X Totals $58,150 $65,650

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