Cash | |||
Description | Debit | Description | Credit |
Opening Balance | 15000 | Equipment | 4100 |
Consulting Services Revenue | 14600 | Accounts Payable | 680 |
Common Stock | 9000 | ||
Unearned Revenue | 11500 | ||
Accounts Receivable | 12200 | Closing Balance | 57520 |
62300 | 62300 |
Consulting Services Revenue | |||
Description | Debit | Description | Credit |
Opening Balance | 0 | ||
Cash | 14600 | ||
Closing Balance | 37500 | Accounts Receivable | 22900 |
37500 | 37500 |
Common Stock | |||
Description | Debit | Description | Credit |
Opening Balance | 11000 | ||
Closing Balance | 20000 | Cash | 9000 |
20000 | 20000 |
Equipment | |||
Description | Debit | Description | Credit |
Opening Balance | 8700 | ||
Cash | 4100 | ||
Notes Payable | 12300 | Closing Balance | 25100 |
25100 | 25100 |
Notes Payable | |||
Description | Debit | Description | Credit |
Opening Balance | 0 | ||
Closing Balance | 12300 | Equipment | 12300 |
12300 | 12300 |
Unearned Revenue | |||
Description | Debit | Description | Credit |
Opening Balance | 2650 | ||
Closing Balance | 14150 | Cash | 11500 |
14150 | 14150 |
Supplies | |||
Description | Debit | Description | Credit |
Opening Balance | 880 | ||
Accounts Payable | 1360 | Closing Balance | 2240 |
2240 | 2240 |
Accounts Payable | |||
Description | Debit | Description | Credit |
Cash | 680 | Opening Balance | 7350 |
Closing Balance | 8030 | Supplies | 1360 |
8710 | 8710 |
Utilities Expenses | |||
Description | Debit | Description | Credit |
Opening Balance | 0 | ||
Utilities Payable | 1910 | Closing Balance | 1910 |
1910 | 1910 |
Utilities Payable | |||
Description | Debit | Description | Credit |
Opening Balance | 0 | ||
Closing Balance | 1910 | Utilities Expenses | 1910 |
1910 | 1910 |
Accounts Receivable | |||
Description | Debit | Description | Credit |
Opening Balance | 11500 | Cash | 12200 |
Consulting Services Revenue | 22900 | Closing Balance | 22200 |
34400 | 34400 |
All T-accounts have been prepared and closing balance are shown in it.
Account Titles | Debit | Credit |
Cash | 57520 | |
Accounts Receivable | 22200 | |
Supplies | 2240 | |
Equipment | 25100 | |
Accounts Payable | 8030 | |
Unearned Revenue | 14150 | |
Notes Payable | 12300 | |
Utilities Payable | 1910 | |
Common Stock | 20000 | |
Retained Earnings | 15080 | |
Service Revenue | 37500 | |
Utilities Expenses | 1910 | |
Total | 108970 | 108970 |
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Required information [The following information applies to the questions displayed below.] In January, Tongo, Inc., a...
Required information [The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $14,600 cash for consulting services rendered in January. b. Issued common stock to investors for $9,000 cash. c. Purchased $16,400 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $11,500 cash for consulting services to be performed in February e. Bought $1,360 of supplies on...
Required information (The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions 33333333333 a. Received $15,000 cash for consulting services rendered in January b. Issued common stock to investors for $12,000 cash C. Purchased $16,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years d. Received $8,300 cash for consulting services to be performed in February e. Bought $1230 of supplies...
Required information [The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $12,200 cash for consulting services rendered in January. b. Issued common stock to investors for $16,000 cash. c. Purchased $14,400 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $9,200 cash for consulting services to be performed in February. e. Bought $1,700 of supplies on...
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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. a. Received $12,200 cash for consulting services rendered in January b. Issued common stock to investors for $16,000 cash. c. Purchased $14,400 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years d. Received $9,200 cash for consulting services to be performed in February. e. Bought $1,700 of supplies...
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 for consulting services rendered in January. Issued common stock to investors for $10,000 cash. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. Received $7,500 cash for consulting services to be performed in February. Bought and received $1,000 of supplies on account. Received utility...
Required information [The following information applies to the questions displayed below.) In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $16,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,000 cash. c. Purchased $16,100 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,500 cash for consulting services to be performed in February. e. Bought and received $1,550 of...
Required information [The following information applies to the questions displayed below.] In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $9,500 cash for consulting services rendered in January. b. Issued common stock to investors for $10,000 cash. c. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,500 cash for consulting services to be performed in February. e. Bought and received $1,000 of...
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