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In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under

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In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.) a. (Sample) Received $15,000 cash for consulting services rendered in January b. Issued common stock to investors for $12.000 cash. c. Purchased $15,000 of equipment, paying 25 percent in cash and owing the rest on a note due in two years. d. Received $8,300 cash for consulting services to be performed in February e Bought and received $1,230 of supplies on account. Received utility bill for January for $1,500. due February 15. g. Consulted for customers in January for fees totaling $23,300, due in February h Received $17.700 cash for consulting services rendered in December 1. Paid $615 toward supplies purchased in (e). Assets Liabilities Stockholders' Equity Service Revenue a Cash 15.000 15.000 ex 15 of 23 !!! Next > Assets Liabilities Stockholders' Equity Service Revenue 15.000 15.000

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