" ezto.mheducation.com M Question 2 - Chapter 3 Connect Homework 3 - Connect G in January, Tongo, Incorporated, a branding consultant, had the following tran Chapter 3 Connect Homework 3 Saved Help 2 In January, Tongo, Incorporated, 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. a. (Sample) Received $9,700 cash for consulting services rendered in January. 10 b. Issued common stock to investors for $11,500 cash. points 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. Book g. Consulted for customers in January for fees totaling $16,300, due in February. h. Received $16,700 cash for consulting services rendered in December. 1. Paid $625 toward supplies purchased in (e). Hint Required: Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is Print provided. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) In Assets = Liabilities Stockholders' Equity References a Cash 9,700 = + Service Revenue 9,700 b Notes Payable (short-term) c 19 18 11 11 Mc Grav Hill MacBook Pro Q EA # % & 3 V 5 6 8 9 O W E R T U 0