Question

Required information (The following information applies to the questions displayed below.) The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $19,750 cash in the company in exchange for common stock. b. The company purchased office supplies for $573 cash. C. The company purchased $10,922 of office equipment on credit. d. The company received $2,331 cash as fees for services provided to a customer. e. The company paid $10,922 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $4,187 as fees for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,759 cash as partial payment for the account receivable created in transaction f. I. The company paid $1,000 cash in dividends to the owner (sole shareholder). Prepare the Trial Balance SPADE COMPANY Trial Balance May 31, 2018 Debit Credit < Prev 45 of 63 !!! Next > 38 ? NAWX? ROBEE

Answer 1

SPADE COMPANY Trial Balance May 31, 2018 Debit Credit $ 10, 825 $ 19,750 & 573 & 10,922 Cash Comman stock office supplies Office equipment Accounts payable Rent expense Dividends Fees earned Accounts receivable $ 520 $1,000 $ 6,518 $ 2,428 $ 26,268 $ 26,268 Totals Calculation: Cash Accounts Receivable $4,187 h $1,759 $573 $ 19,750 $ 2,33) $ 1,759 $10,922 $ 520 L Balance $2,428 $1,000 balance $10,825

Office Supplies Equipment $513 Office $10,922 Balance $10,922 Balance $573 Common Stock Accounts $10,922 a Payable $10,922 $19,750 Balance $0 Balance $19,750 fees Dividends & 1,000 Earned de $2,331 $4,187 Balance & 1,000 Balance $6,518 Rent Expense $ 520 Balance & 520