Transaction | General Journal | Debit | Credit |
a | Cash | $ 19,200 | |
Service revenue | $ 19,200 | ||
[To record cosh recieved on services] | |||
b | Cash | $ 11,000 | |
Common stock | $ 11,000 | ||
[To record issuance of common stock] | |||
c | Equipment | $ 21,900 | |
Notes payable | $ 16,425 | ||
Cash | $ 5,475 | ||
[To record purchase of equipment] | |||
d | Cash | $ 9,350 | |
Unearned revenue | $ 9,350 | ||
[To record cash recived in advance on services] | |||
e | Supplies | $ 1,090 | |
Accounts payable | $ 1,090 | ||
[To record bought supplies on account] | |||
f | Utility expense | $ 1,950 | |
Utility payable | $ 1,950 | ||
[To record received utility bill] | |||
g | Accounts receivable | $ 18,600 | |
Service revenue | $ 18,600 | ||
[To record services performed on account] | |||
h | Cash | $ 18,100 | |
Accounts receivable | $ 18,100 | ||
[To record collections from customer] | |||
i | Accounts payable | $ 545 | |
Cash | $ 545 | ||
[To record payment for supplies] | |||
In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $19,200 cash for...
In January, Tongo, Inc., a branding consultant, had the following transactions. 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 $1,230 of supplies on account. f. Received utility bill for January for $1,500, due February...
E3-17 Preparing Journal Entries [LO 3-3] 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. e 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 $1000 of supplies on account. f Received utility...
In January, Tongo, Inc., a branding consultant, had the following transactions. 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 $1,230 of supplies on account. f. Received utility bill for January for $1,500, due February 15. g. Consulted for customers in January...
In January, Tongo, Inc., a branding consultant, had the following transactions. Received $13,200 cash for consulting services rendered in January. Issued common stock to investors for $8,000 cash. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. Received $11,800 cash for consulting services to be performed in February. Bought and received $1,750 of supplies on account. Received utility bill for January for $2,060, due February 15. Consulted for customers...
In January, Tongo, Inc., a branding consultant, had the following transactions. 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 $1,230 of supplies on account. f. Received utility bill for January for $1,500, due February...
In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.) (Sample) Received $15,500 cash for consulting services rendered in January. Issued common stock to investors for $14,500 cash. Purchased $16,200 of equipment, paying 25 percent in cash and owing the rest on a note due in two years....
In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.) (Sample) Received $16,600 cash for consulting services rendered in January. Issued common stock to investors for $15,000 cash. Purchased $16,100 of equipment, paying 25 percent in cash and owing the rest on a note due in two years....
In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.) a. (Sample) Received $13,200 cash for consulting services rendered in January. b. Issued common stock to investors for $8,000 cash. c. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due...
In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.) a. (Sample) Received $15,000 cash for consulting services rendered in January b. Issued common stock to investors for $12.000 cash. c. Purchased $15,000 of equipment, paying 25 percent in cash and owing the rest on a note due...
[The following information applies to the questions displayed below.] In January, Tongo, Inc., a branding consultant, had the following transactions. Received $13,200 cash for consulting services rendered in January. Issued common stock to investors for $8,000 cash. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. Received $11,800 cash for consulting services to be performed in February. Bought and received $1,750 of supplies on account. Received utility bill for...