Question

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 account. f. Received utility bill for January for $1,910, due February 15. g. Consulted for customers in January for fees totaling $22,900, due in February h. Received $12,200 cash for consulting services rendered in December i. Paid $680 toward supplies purchased in (e). Account Title Debit Credit Cash $15,000 Accounts Receivable 11,500 Supplies 880 Equipment 8,700 Accounts Payable $ 7,350 Unearned Revenue 2,650 Note Payable Common Stock 11,000 Retained Earnings 15,080 Service Revenue Utilities Expense ces 0 o Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31. TONGO, INC.

Answer 1

UnAdjusted Trial Balance:
Accounts Titles	Debit $	Credit $
Cash (15000+14600+9000-4100+11500+12200-680)	57520
Accounts Receivable (11500+22900-12200)	22200
Supplies (880+1360)	2240
Equipment (8700+16400)	25100
Accounts Payable (7350+1360+1910-680)		9940
Unearned Revenue (2650+11500)		14150
Notes Payable		12300
Common Stock (11000+9000)		20000
Retained Earnings		15080
Service Revenue (14600+22900)		37500
Utilities Expense	1910
Total	108970	108970

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