Question

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. f. 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 1. Paid $500 toward supplies purchased in (e). E3-19 Creating an Unadjusted Trial Balance [LO 3-4] Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31,

Answer 1

Service Revenue 9500 soov 9. Cash 9500 3ood . 10ood 500 7500 12000 Belo 35500 he Come 25400 Balo Stock mmon 100000 Note Payable 10000 Balo good Equipment good Balo 12ovo Defarrd Revenue 7500 (2) Bal. L12000 Supplies e SUD 184 . Accounts Payable Bolo loco Utilities Expense 500 life 1250 Soo Balo Bale 1250 etilities Payable f 1250 Accounts Receivable 15900 12000 ch 23 1250 Balo Bal. 3900

Trial Balance Account Title Cash Equipment Supplies Account Receivable Utilities Expense Service Revenu Common stock Deferred Revenue Accounts Payable Utilities Payable Note Payable otal Debit Credit 35500 12 ovo 1000 3900 1250 25 You 10000 7500 500 1250 goro 5365053650

*** If you are satisfied with the solution, kindly UPVOTE ? this answer. THANK YOU .