Question

The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. b. The company purchased office supplies for $1,250 cash. c. The company purchased $10,050 of office equipment on credit. d. The company received $15,500 cash as fees for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,700 as fees for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. i. The company paid $10,000 cash in dividends to the owner (sole shareholder). Prepare the Trial Balance. SPADE COMPANY Trial Balance May 31, 2017 Debit Credit Totals

Answer 1

Trial Balance Particulars 100750 Capital Debtor (WN2) 1575 office Cash (Refer Wn1) 94850 Office Supplies 1950 office Equipment 10050 Service fee (WN3) Rent 1225 Dividend 10,000 1013000 18200 118950 118950

Sop:- (1) cash A/C To capital 100750 By office supplies 1250 To fees 15,500 By Vendor 10050 To Debtor 1125 By Rent 1225 Dividend 10,000 by balance ofd 94850 117375) 117375 (2) Debtor(customer) To Seswicekee 2700 By cash 1125 | By bal old 1575 9700 270o fee (3) Service To Cash 15,500 To Debtor 2700 18,200 18,200