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Business, 21.02.2020 18:47 charlzperru8234
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 2 years.
d. Received $11,800 cash for consulting services to be performed in February.
e. Bought $1,750 of supplies on account.
f. Received utility bill for January for $2,060, due February 15.
g. Consulted for customers in January for fees totaling $19,900, due in February.
h. Received $13,300 cash for consulting services rendered in December.
i.
Paid $875 toward supplies purchased in (e).
ASSETS = LIABILITIES + SHAREHOLDER'S EQUITY
a) cash 13,200 service revenue 13,200
b)
c)
d)
e)
f)
g)
h)
i)
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In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the account...
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