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Q2 [The following information applies to the questions displayed below.] The transactions...

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Accounting

Q2
[The following information applies to the questions displayed below.]
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.
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