[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. Paid $790 toward supplies purchased in (e).

[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. Paid $790 toward supplies purchased in (e).

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Description: Cc.26. 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

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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