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 $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 supplies on account. f. Received utility bill for January for $1,960, due February 15. g. Consulted for customers in January for fees totaling $19,600, due in February h. Received $14,300 cash for consulting services rendered in December. i. Paid $775 toward supplies purchased in (e). Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31. TONGO, INC. Unadjusted Trial Balance Account Name Debit Credit Totals

Answer 1

First need to journalists the each transactions.

Date	Accounts	Debit	Credit
A	Cash	$ 16,600
	To Service revenue		$ 16,600
B	Cash	$ 15,000
	To common stock		$ 15,000
C	Equipment	$ 16,100
	To Cash		$ 4,025
	To Note payable		$ 12,075
D	Cash	$ 12,500
	To unearned revenue		$ 12,500
E	Supplies	$ 1,550
	To Accounts payable		$ 1,550
F	Utility expense	$ 1,960
	To utility payable		$ 1,960
G	Accounts receivable	$ 19,600
	To Service revenue		$ 19,600
H	Cash	$ 14,300
	To Accounts receivable		$ 14,300
I	Accounts payable	$ 775
	To Cash		$ 775

Balance in cash = 16,600 + 15,000 - 4,025 +12,500 + 14,300 - 775

Balance in cash = $ 53,600

Balance in service revenue = 16,600 + 19,600

Balance in service revenue = $ 36,200

Balance in accounts receivable = 19,600 - 14,300

Balance in accounts receivable = $ 5,300

Balance in accounts payable = 1,550 - 775

Balance in accounts payable = $ 775

TONGO, INC.

UNADJUSTED TRIAL BALANCE

Account name	Debit	Credit
Cash	$ 53,600
Accounts receivable	$ 5,300
Equipment	$ 16,100
Utility expense	$ 1,960
Supplies	$ 1,550
Common stock		$ 15,000
Accounts payable		$ 775
Utility payable		$ 1,960
Unearned revenue		$ 12,500
Service revenue		$ 36,200
Note payable		$ 12,075
TOTAL	$ 78,510	$ 78,510

SUMMARY:

The utility bill due on next month can also credited to accounts payable sometime. But here, I did crediting to utility payable.