Question

The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $14,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $413 cash. c. The company purchased $7,880 of office equipment on credit. d. The company received $1,682 cash as fees for services provided to a customer. e. The company paid $7,880 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,021 as fees for services provided. g. The company paid $535 cash for the monthly rent. h. The company collected $1,269 cash as partial payment for the account receivable created in transaction f. i. The company paid a $900 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. Answer is not complete. Credit SPADE COMPANY Trial Balance May 31 Debit $ 7,473 1,752 413 7,880 Cash Accounts receivable Office supplies Office equipment Common stock Dividends Accounts payable Rent expense 14,250 OOOOO 900 1,682 X 535 Totals $ 18,953 $ 15,932

Answer 1

SPADE Company

Trial balance

May 31

	Debit	Credit
Cash	7473
Account receivable	1752
Office supplies	413
Office equipment	7880
Common Stock		14250
Dividends	900
Service revenue		4703
Rent expense	535
Total	18953	18953