Question

The transactions of Spade Company appear below.

1. Kacy Spade, owner, invested $10,000 cash in the company in exchange for common stock.
2. The company purchased office supplies for $290 cash.
3. The company purchased $5,530 of office equipment on credit.
4. The company received $1,180 cash as fees for services provided to a customer.
5. The company paid $5,530 cash to settle the payable for the office equipment purchased in transaction c.
6. The company billed a customer $2,120 as fees for services provided.
7. The company paid $525 cash for the monthly rent.
8. The company collected $890 cash as partial payment for the account receivable created in transaction f.
9. The company paid $1,100 cash in dividends to the owner (sole shareholder).

The transactions of Spade Company appear below a. Kacy Spade, owner, invested $10,000 cash in the company in exchange for common stock. b. The company purchased office supplies for $290 cash c. The company purchased $5,530 of office equipment on credit. d. The company received $1,180 cash as fees for services provided to a customer e. The company paid $5,530 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,120 as fees for services provided g. The company paid $525 cash for the monthly rent. h. The company collected $890 cash as partial payment for the account receivable created in transaction f i. The company paid $1,100 cash in dividends to the owner (sole shareholder) Prepare the Trial Balance SPADE COMPANY Trial Balance May 31, 2017 Debit Credit Cash Accounts receivable Office supplies Office equipment Common stock $4,820 1,230 290 5,530 10,000 vidends 900 Fees earned 3,300 ent expense 525 Totals $ 13,295$ 13,300

Answer 1

Solution:

Spade Company
Trial Balance
31-May-17
Particulars	Debit	Credit
Cash ($10,000 - $290 + $1,180 - $5,530 - $525 + $890 - $1,100)	$4,625.00
Accounts receivables ($2,120 - $890	$1,230.00
Office supplies	$290.00
Office equipment	$5,530.00
Common stock		$10,000.00
dividends	$1,100.00
Fees earned ($1,180 + $2,120)		$3,300.00
Rent Expense	$525.00
Total	$13,300.00	$13,300.00