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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 $10,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,500 cash. c. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,750 cash for consulting services to be performed in February. e. Bought and received $1,100 of supplies on account. f Received utility bill for January for $2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February. h. Received $13,500 cash for consulting services rendered in December. 1. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONGO, INCORPORATED Unadjusted Trial Balance At January 31 Account Name Debit Credit

Required information [The following information applies to the questions displayed below.] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $10,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,500 cash. c. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,750 cash for consulting services to be performed in February. e. Bought and received $1,100 of supplies on account. f Received utility bill for January for $2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February. h. Received $13,500 cash for consulting services rendered in December. 1. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONGO, INCORPORATED Unadjusted Trial Balance At January 31 Account Name Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In JanuaryTongo, Incorporated, a branding consultant, had the following transactions Received $10,600 cash for consulting services rendered in January blssued common stock to investors for $15,500 cash. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 ye d. Received $7,750 cash for consulting services to be performed in February e. Bought and received $1,100 of supplies on account. Received utility bill for January for $2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February h. Received $13,500 cash for consulting services rendered in December. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31.
Transcribed Image Text:In JanuaryTongo, Incorporated, a branding consultant, had the following transactions Received $10,600 cash for consulting services rendered in January blssued common stock to investors for $15,500 cash. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 ye d. Received $7,750 cash for consulting services to be performed in February e. Bought and received $1,100 of supplies on account. Received utility bill for January for $2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February h. Received $13,500 cash for consulting services rendered in December. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31.
Required information [The following information applies to the questions displayed below.] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $10,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,500 cash. c. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,750 cash for consulting services to be performed in February. e. Bought and received $1,100 of supplies on account. f Received utility bill for January for $2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February. h. Received $13,500 cash for consulting services rendered in December. i. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONGO, INCORPORATED Unadjusted Trial Balance At January 31 Account Name Totals Debit Credit $ 0 $ 0 MA
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $10,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,500 cash. c. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,750 cash for consulting services to be performed in February. e. Bought and received $1,100 of supplies on account. f Received utility bill for January for $2,070, due February 15. g. Consulted for customers in January for fees totaling $16,500, due in February. h. Received $13,500 cash for consulting services rendered in December. i. Paid $550 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONGO, INCORPORATED Unadjusted Trial Balance At January 31 Account Name Totals Debit Credit $ 0 $ 0 MA
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