Question

[The following information applies to the questions displayed below.]

In January, Tongo, Inc., a branding consultant, had the following transactions.

  1. Received $13,200 cash for consulting services rendered in January.
  2. Issued common stock to investors for $8,000 cash.
  3. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
  4. Received $11,800 cash for consulting services to be performed in February.
  5. Bought and received $1,750 of supplies on account.
  6. Received utility bill for January for $2,060, due February 15.
  7. Consulted for customers in January for fees totaling $19,900, due in February.
  8. Received $13,300 cash for consulting services rendered in December.
  9. Paid $875 toward supplies purchased in (e).

Post the effects to the appropriate T-accounts.Post the effects to the appropriate T-accounts. Cash Account Receivable Jan 1 14,200 Jan 1 17,200 Jan 31 14,200 Jan 31 17,200Deferred Revenue Accounts Payable 6,100 Jan 1 Jan 1 3,250 Jan 31 6,100 Jan 31 3,250 Notes Payable Common Stock 10,000 Jan 1 JRequired information [The following information applies to the questions displayed below.] In January, Tongo, Inc., a brandin

0 0
Add a comment Improve this question Transcribed image text
Answer #1

These below images will definitely help you to answer the above question.Solution I am deawing all accounts below Please refer to the transactions listed in all al accounts In the end a make HefererParticulars Amount (3) Supplies of Date Panculars Amt To bal old 1,260 To Accounts Payable 4,750 Jan Jan By bal old 3,000 3,0(2) Notes Payable Alc Partulars Date Amount Date Particulae Jan By Equipment Amount 8, 900 To bal old 8,400 8,400 3,400 (8) CAmount OD Utilities Date Amt Patrolas Jan Jan 2,060 To Arcounts Payable 2,060 By Retainod Fanning 2,060 2,060 For transaction

Thank you

Add a comment
Know the answer?
Add Answer to:
[The following information applies to the questions displayed below.] In January, Tongo, Inc., a branding consultant,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • In January, Tongo, Inc., a branding consultant, had the following transactions. Received $13,200 cash for consulting...

    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. Indicate the accounts, amounts, and...

    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. a. Received $15,000 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...

  • ! Required information (The following information applies to the questions displayed below.) In January, Tongo, Inc.,...

    ! 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...

  • In January, Tongo, Inc., a branding consultant, had the following transactions.

    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...

  • 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 $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...

  • 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 $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...

    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...

    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...

  • In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and...

    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....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT