Question

AND UNADJUSTED TRIAL i Saved Help Save & Exit Check my Required information E3-18 and E3-19 Posting to T-Accounts and Creating an Unadjusted Trial Balance [LO 3-3, LO 3.4] [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 supplies on account. Received utility bill for January for $1.250. due February 15 g. Consulted for customers in January for fees totaling $15.900, due in February h. Received $12.000 cash for consulting services rendered in December Paid $500 toward supplies purchased in e -18 Posting to T-Accounts [LO 3-3) Next

Answer 1

T - Account Particular Debit Credit cash account receivable 45,500 16,400 supplies 2,300 Equipment 17,000 Utilities expenses 1,250 Account payable 6,000 Deferred revenue Notes payables service revenue retained earnings Outstanding exp 10,000 9,000 25,400 8,800 1,250 comman stock 22,000 $82,450 $82,450

CALCULATION OF BALANCE OF ALL ITEMS

a Cash Date or Transact ion Particular Amount Jan 1 opening balance 10,000 cash from consulting Service 9500 b cash from issue of comman stock 10,000 25% of equipment paid in cash -3,000 D cash from consulting Service perform in feb 7,500 h received cash for service render in December 12,000 i paid for supplies puchase -500 Jan 31 Balance 45,500 C Account Receivable Date or Transact ion Particular Amount Jan 1 opening balance 12,500 g Consult to customers in jan fee due in feb 15,900 h received cash for service render in December |-12,000 Jan 31 Balance 16,400

Supplies Date or Transact ion Particular Jan 1 opening balance bought on account i supplies puchase in cash Jan 31 Balance Amount 800 e 1000 500 2,300 Equipment Date or Transact ion Particular Jan 1 opening balance C Purchase Jan 31 Balance Amount $5,000 $12,000 17,000 Account Payable Date or Transact ion Particular Jan 1 opening balance e Purchase of supplies Jan 31 Balance Amount 5,000 1,000 6,000 Deferred Revenue Date or Transact ion Particular Jan 1 opening balance d cash recieved for service performed in feb Jan 31 Balance Amount $2,500 $7,500 10,000

Notes Payable Date or Transact ion Particular Jan 1 opening balance 75% of equipment issue notes Amount 0 с $9,000 9,000 Jan 31 Balance Comman Stock Date or Transact ion Particular Jan 1 opening balance b issue comman stock Jan 31 Balance Amount $12,000 $10,000 $22,000 Retained earnings Date or Transact ion Particular Jan 1 opening balance Jan 31 Balance Amount 8,800 $8,800

Service Revenue Date or Transact ion Particular Amount Jan 1 opening balance o a Revenue from service render 9,500 g Consult to customers in jan fee due in feb 15,900 Jan 31 Balance $25,400 Utilities expense Date or Transact ion Particular Jan 1 opening balance f received bill due in feb Jan 31 Balance Amount 0 1,250 $1,250 Outstanding expense Date or Transact ion Particular Jan 1 opening balance f received bill of jan due in feb Amount 0 1,250 $1,250 Jan 31 Balance