Question

Can someone help me do this question!

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 $9.700 cash for consulting services rendered in January b. Issued common stock to investors for $11,500 cash. c. Purchased $21,500 of equipment, paying 25 percent in cash and owing the rest on a note due in two years. d. Received $8,450 cash for consulting services to be performed in February e Bought and received $1,250 of supplies on account. f Received utility bill for January for $2,170, due February 15, g. Consulted for customers in January for fees totaling $16,300, due in February n. Received $16,700 cash for consulting services rendered in December 1. Paid $625 toward supplies purchased in (e). Assets Liabilities Stockholders' Equity a Cash 9,700 Service Revenue 9,700

Answer 1

Assets				Liabilities			Stockholders' Equity
a	Cash	$9,700	=			+	Service revenue	$9,700
b	Cash	11,500					Capital	11,500
c	Equipment	21,500
	Cash	(5,375)		Notes payable	16,125
d	Cash	8,450		Unearned revenue	8,450
e	Supplies	1,250		Accounts payable	1,250
f				Utility payable	2,170		Utility expense	2,170
g	Accounts receivable	16,300					Service revenue	16,300
h	Cash	16,700
	Accounts receivable	(16,700)
i	Cash	(625)		Accounts payable	(625)