Prepare journal entries as follows:
Trn. | Account Titles | Debit | Credit |
a) | Cash | $9,500 | |
Consultancy service revenue | $9,500 | ||
b) | Cash | $10,000 | |
Common stock | $10,000 | ||
c) | Equipment | $12,000 | |
Cash [$12000 * 25%] | $3,000 | ||
Note payable | $9,000 | ||
d) | Cash | $7,500 | |
Unearned service revenue | $7,500 | ||
e) | Supplies | $1,000 | |
Accounts payable | $1,000 | ||
f) | Utility Expense | $1,250 | |
Accounts payable | $1,250 | ||
g) | Accounts receivable | $15,900 | |
Consultancy service revenue | $15,900 | ||
h) | Cash | $12,000 | |
Accounts receivable | $12,000 | ||
i) | Accounts payable | $500 | |
Cash | $500 |
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Prepare T-accounts as follows:
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Prepare Unadjusted Trial Balance:
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Required information E3-18 and E3-19 Posting to T-Accounts and Creating an Unadjusted Trial Balance [LO 3-3,...
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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...
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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...
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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. 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...
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