Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. Account Name TONGO, INCORPORATED Unadjusted Trial Balance Debit Credit

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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[The following information applies to the questions displayed below.]
In January, Tongo, Incorporated, a branding consultant, had the following transactions.
a. Received $15,600 cash for consulting services rendered in January.
b. Issued common stock to investors for $13,000 cash.
c. Purchased $16,700 of equipment, paying 25 percent in cash and owing the rest on a note due in 2
years.
d. Received $9,300 cash for consulting services to be performed in February.
e. Bought and received $1,580 of supplies on account.
f. Received utility bill for January for $1,990, due February 15.
g. Consulted for customers in January for fees totaling $23,000, due in February.
h. Received $17,200 cash for consulting services rendered in December.
i. Paid $790 toward supplies purchased in (e).
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 $15,600 cash for consulting services rendered in January. b. Issued common stock to investors for $13,000 cash. c. Purchased $16,700 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $9,300 cash for consulting services to be performed in February. e. Bought and received $1,580 of supplies on account. f. Received utility bill for January for $1,990, due February 15. g. Consulted for customers in January for fees totaling $23,000, due in February. h. Received $17,200 cash for consulting services rendered in December. i. Paid $790 toward supplies purchased in (e).
Required:
Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31.
Account Name
Totals
TONGO, INCORPORATED
Unadjusted Trial Balance
Debit
Credit
Transcribed Image Text:Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. Account Name Totals TONGO, INCORPORATED Unadjusted Trial Balance Debit Credit
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