The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $10,250 cash in the company. b. The company purchased office supplies for $297 cash. c. The company purchased $5,668 of office equipment on credit. d. The company received $1,210 cash as fees for services provided to a customer. e. The company paid $5,668 cash to settle the payable for the office equipment purchased in transaction c f. The company billed a customer $2,173 as fees for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $913 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $900 cash from the company for personal use. Prepare the Trial Balance. Use May 31 as its report date. SPADE COMPANY Trial Balance May 31 Debit Credit

The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $10,250 cash in the company. b. The company purchased office supplies for $297 cash. c. The company purchased $5,668 of office equipment on credit. d. The company received $1,210 cash as fees for services provided to a customer. e. The company paid $5,668 cash to settle the payable for the office equipment purchased in transaction c f. The company billed a customer $2,173 as fees for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $913 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $900 cash from the company for personal use. Prepare the Trial Balance. Use May 31 as its report date. SPADE COMPANY Trial Balance May 31 Debit Credit

Name: The transactions of Spade Company appear below.a. Kacy Spade, owner,
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Description: The transactions of Spade Company appear below.a. Kacy Spade, owner, invested $10,250 cash in the company.b. The company purchased office supplies for $297 cash.c. The company purchased $5,668 of office equipment on credit.d. The company received $1

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PA: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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The transactions of Spade Company appear below. K. Spade, owner, invested $10,250 cash in the company. The company purchased supplies for $297 cash. The company purchased $5,668 of equipment on credit. The company received $1,210 cash for services provided to a customer. The company paid $5,668 cash to settle the payable for the equipment purchased in transaction c. The company billed a customer $2,173 for services provided. The company paid $530 cash for the monthly rent. The company collected $913 cash as partial payment for the account receivable created in transaction f. K. Spade withdrew $800 cash from the company for personal use. prepare the trial balance
The transactions of Spade Company appear below. K. Spade, owner, invested $14,500 cash in the company. The company purchased supplies for $421 cash. The company purchased $8,019 of equipment on credit. The company received $1,711 cash for services provided to a customer. The company paid $8,019 cash to settle the payable for the equipment purchased in transaction c. The company billed a customer $3,074 for services provided. The company paid $530 cash for the monthly rent. The company collected $1,291 cash as partial payment for the account receivable created in transaction f. K. Spade withdrew $1,200 cash from the company for personal use Post entries to T-accounts and the ending balances will be calculated. please complete answer with complete work answer in text
a. K. Spade, owner, invested $18,500 cash in the company. b. The company purchased supplies for $537 cash. c. The company purchased $10,231 of equipment on credit. d. The company received $2,183 cash for services provided to a customer. e. The company paid $10,231 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,922 for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,647 cash as partial payment for the account receivable created in transaction f I.K. Spade withdrew $1,000 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable, Supplies, Equipment, Accounts Payable: K. Spade, Capital, K. Spade. Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question by…
The transactions of Spade Company appear below. a. K. Spade, owner, invested $17,500 cash in the company." b. The company purchased supplies for $508 cash. c. The company purchased $9,678 of equipment on credit. d. The company received $2,065 cash for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,710 for services provided. 9. The company paid $530 cash for the monthly rent. h. The company collected $1,558 cash as partial payment for the account receivable created in transaction f i. K. Spade withdrew $1,000 cash from the company for personal use. Exercise 2-14 (Algo) Preparing a trial balance LO P1 Prepare the Trial Balance. Use May 31 as its report date. Cash K. Spade, Capital Supplies K. Spade, Withdrawals Equipment Rent expense Services revenue Accounts receivable Totals Answer is not complete. SPADE COMPANY Trial Balance May 31 Debit IS 9,407 508 1,000 9,678…
The transactions of Spade Company appear below. Kacy Spade, owner, invested $18,250 cash in the company in exchange for common stock. The company purchased office supplies for $529 cash. The company purchased $10,092 of office equipment on credit. The company received $2,153 cash as fees for services provided to a customer. The company paid $10,092 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $3,869 as fees for services provided. The company paid $530 cash for the monthly rent. The company collected $1,625 cash as partial payment for the account receivable created in transaction f. The company paid $900 cash in dividends to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the…
The transactions of Spade Company appear below. Kacy Spade, owner, invested $15,500 cash in the company in exchange for common stock. The company purchased office supplies for $450 cash. The company purchased $8,572 of office equipment on credit. The company received $1,829 cash as fees for services provided to a customer. The company paid $8,572 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $3,286 as fees for services provided. The company paid $520 cash for the monthly rent. The company collected $1,380 cash as partial payment for the account receivable created in transaction f. The company paid a $900 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date.
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $10,750 cash in the company in exchange for common stock. b. The company purchased office supplies for $312 cash. c. The company purchased $5,945 of office equipment on credit. d. The company received $1,268 cash as fees for services provided to a customer. e. The company paid $5,945 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,279 as fees for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $957 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,000 cash dividend to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and…
a. K. Spade, owner, invested $100,750 cash in the company. b. The company purchased supplies for $1,250 cash. c. The company purchased $10,050 of equipment on credit. d. The company received $15,500 cash for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,700 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. K. Spade withdrew $10,000 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question…
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company. b. The company purchased office supplies for $493 cash. c. The company purchased $9,401 of office equipment on credit. d. The company received $2,006 cash as fees for services provided to a customer. e. The company paid $9,401 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,604 as fees for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $1,200 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense.…
Kacy Spade, owner, invested $100,750 cash in the company. The company purchased office supplies for $1,250 cash. The company purchased $10,050 of office equipment on credit. The company received $15,500 cash as fees for services provided to a customer. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,700 as fees for services provided. The company paid $1,225 cash for the monthly rent. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. Kacy Spade withdrew $10,000 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.2.…
[The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,250 cash in the company. b. The company purchased supplies for $558 cash. c. The company purchased $10,645 of equipment on credit. d. The company received $2,272 cash for services provided to a customer. e. The company paid $10,645 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,081 for services provided. g. The company paid $535 cash for the monthly rent. h. The company collected $1,714 cash as partial payment for the account receivable created in transaction f. 1. K. Spade withdrew $1,100 cash from the company for personal use. equired: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and…
The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,000 cash in the company in exchange for common stock. b. The company purchased supplies for $551 cash. c. The company purchased $10,507 of equipment on credit. d. The company received $2,242 cash for services provided to a customer. e. The company paid $10,507 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,028 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,692 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,000 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. Note: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses. Cash Accounts payable SPADE COMPANY Trial Balance May 31 Debit $ Credit 0