Question

what is incomplete?

EL UNWUJUVEL TRONO Rele completion Return to question 0.15 points Prepare journal entries for each transaction and identify the financial statement impact of each entry The financial statements are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock Jan. 2 The company purchased office supplies for $1.250 cash. Jan. 3 The company purchased $10.050 of office equipment on credit. Jan. 4 The company received $15,500 cash as foes for services provided to a customer. Jan 5 The company paid $10,050 cash to settle the payable for the office equipment purchased on January 3. Jan. 6 The company billed a customer $2,700 as fees for services provided Jan. 7 The company paid $1.225 cash for the monthly rent. Jan 8 The company collected $1,125 cash as partial payment for the account receivable created on January 6 Jan 9 The company paid $10,000 cash in dividends to the owner (solo shareholder). Answer is not complete. Require... General General Trial Income St Balance FS Journal Ledger Balance Statem... Retained Sheet Impact Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of the Spade Company, entering the debits before the credits. Each transaction will automatically be posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". Show less No Date Account Title Debit Credit 1 Jan 01 Cash 100.750 Common Stock T E 100.750 2 Jan 02 Otice supplies 1250 3 Jan 03 Office equipment Accounts payable 10.050 10.051 4 Jan 04 Cash Fees earned 15,500 15,500 Jan 05 Accounts payable Cash 10.050 10.050 es 5 35 Os 2535 Jan 06 2.700 Accounts receivable CyFees earned 2.70 Rent expense 1.22 122 11 10.00 10.00 Requirement General Ledger >

Answer 1

Date	Journal entry	Dr.($)	Cr.($)
Jan-01	cash	100750
	To common stock		100750
	(being issuance of common stock)
Jan-02	office supplies	1250
	To cash		1250
	(being purchase of office supplies)
Jan-03	office equipment	10050
	To accounts payable		10050
	(being purchase of office equipment on account)
Jan-04	cash	15500
	To service revenue		15500
	(being cash received for service provided)
Jan-05	accounts payable	10050
	To cash		10050
	(being cash paid for office equipment)
Jan-06	accounts receivable	2700
	To service revenue		2700
	(being customer billed for service provided)
Jan-07	rent expense	1225
	To cash		1225
	(being rent expense paid)
Jan-08	cash	1125
	To accounts receivable		1125
	(being partial payment received from customer)
Jan-09	dividend	10000
	To cash		10000
	(being dividend paid)

date	Accounting equation ($)
cash	accounts receivable	supplies	office equipment	accounts payable	capital contribution	retained earnings
Jan-01	100750					100750
Jan-02	-1250		1250
Jan-03				10050	10050
Jan-04	15500						15500
Jan-05	-10050				-10050
Jan-06		2700					2700
Jan-07	-1225						-1225
Jan-08	1125	-1125
Jan-09	-10000						-10000
balance	94850	1575	1250	10050	0	100750	6975

Income statement
for the period Jan.31 (amount in $)
revenue	15500
other revenue	2700
total revenue		18200
less:expenses
rent expense		-1225
net income		16975

statement of stockholders equity
for the period Jan.31 (amount in $)
opening capital stock		100750
opening retained earnings	0
add:net income	16975
less:dividend	-10000
ending retained earnings		6975
ending stockholders equity		107725

Balance Sheet	amount ($)	amount ($)
assets
current assets
cash	94850
accounts receivable	1575
supplies	1250
total current assets		97675
office equipment		10050
total assets		107725
liabilities
current liabilities
accounts payable		0
stockholders equity
capital stock	100750
retained earnings	6975
total stockholders equity		107725
total liabilities and stockholders equity		107725