In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $18,400 cash for...

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In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $18,400 cash for consulting services rendered in January. b. Issued common stock to investors for $17,000 cash. c. Purchased $12,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $11,350 cash for consulting services to be performed in February. e. Bought and received $1,260 of supplies on account. f. Received utility bill for January for $1,880, due February 15. g. Consulted for customers in January for fees totaling $20,900, due in February. h. Received $13,000 cash for consulting services rendered in December. i. Paid $630 toward supplies purchased in (e). Required: For each transaction, post the effects to the appropriate T-accounts. Cash Account Receivable Credit Debit Credit January 1 16,400 Debit January 1 16,600 January 31 16,600 January 1 January 31 16,400 Supplies Debit 1,360 Credit Debit Equipment Credit January 1 8,000 < Prev 4 5 of 6 Next > 10.0001 Required information Saved 1 January 31 10.4001 Debit Credit January 1 1,360 January 1 January 31 1,360 Debit Credit 8,000 January 31 8,000 Accounts Payable Deferred Revenue Debit Credit Debit Credit January 1 6,600 January 1 3,600 January 31 6,600 + January 31 Notes Payable Debit Credit Debit January 1 January 1 January 31 0 January 31 Common Stock 3,600 Credit 19,000 19,000 Retained Earnings Service Revenue Debit Credit Debit Credit January 1 13,160 January 1 #3 Q W E C $ 4 % 25 < Prev 4 5 of 6 Next > MacBook Pro 51 6 9> & 27 R T Y U * 80 9 0 0 Required information January 1 Notes Payable Common Stock Debit Credit Debit Credit January 1 19,000 January 31 0 January 31 19,000 Retained Earnings Service Revenue Debit Credit Debit Credit January 1 13,160 January 1 + January 31 Debit January 1 13,160 Utilities Expense January 31 0 Q Credit $ #4 #3 3 N E C January 31 0 < Prev 4 5 of 6 Next > % 205 MacBook Pro 37 <6 & 27 7 * 0 8 R T Y U 6 0 0 In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $18,400 cash for consulting services rendered in January. b. Issued common stock to investors for $17,000 cash. c. Purchased $12,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $11,350 cash for consulting services to be performed in February. e. Bought and received $1,260 of supplies on account. f. Received utility bill for January for $1,880, due February 15. g. Consulted for customers in January for fees totaling $20,900, due in February. h. Received $13,000 cash for consulting services rendered in December. i. Paid $630 toward supplies purchased in (e). Required: For each transaction, post the effects to the appropriate T-accounts. Cash Account Receivable Credit Debit Credit January 1 16,400 Debit January 1 16,600 January 31 16,600 January 1 January 31 16,400 Supplies Debit 1,360 Credit Debit Equipment Credit January 1 8,000 < Prev 4 5 of 6 Next > 10.0001 Required information Saved 1 January 31 10.4001 Debit Credit January 1 1,360 January 1 January 31 1,360 Debit Credit 8,000 January 31 8,000 Accounts Payable Deferred Revenue Debit Credit Debit Credit January 1 6,600 January 1 3,600 January 31 6,600 + January 31 Notes Payable Debit Credit Debit January 1 January 1 January 31 0 January 31 Common Stock 3,600 Credit 19,000 19,000 Retained Earnings Service Revenue Debit Credit Debit Credit January 1 13,160 January 1 #3 Q W E C $ 4 % 25 < Prev 4 5 of 6 Next > MacBook Pro 51 6 9> & 27 R T Y U * 80 9 0 0 Required information January 1 Notes Payable Common Stock Debit Credit Debit Credit January 1 19,000 January 31 0 January 31 19,000 Retained Earnings Service Revenue Debit Credit Debit Credit January 1 13,160 January 1 + January 31 Debit January 1 13,160 Utilities Expense January 31 0 Q Credit $ #4 #3 3 N E C January 31 0 < Prev 4 5 of 6 Next > % 205 MacBook Pro 37 <6 & 27 7 * 0 8 R T Y U 6 0 0