The transactions of Spade Company appear below. Kacy Spade, owner, invested $18,500 cash in...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The transactions of Spade Company appear below.
Kacy Spade, owner, invested $18,500 cash in the company in exchange for common stock.
The company purchased office supplies for $537 cash.
The company purchased $10,231 of office equipment on credit.
The company received $2,183 cash as fees for services provided to a customer.
The company paid $10,231 cash to settle the payable for the office equipment purchased in transaction c.
The company billed a customer $3,922 as fees for services provided.
The company paid $525 cash for the monthly rent.
The company collected $1,647 cash as partial payment for the account receivable created in transaction f.
The company paid $900 cash in dividends to the owner (sole shareholder).
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $18,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $537 cash. c. The company purchased $10,231 of office equipment on credit. d. The company received $2,183 cash as fees for services provided to a customer. e. The company paid $10,231 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,922 as fees for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,647 cash as partial payment for the account receivable created in transaction f i. The company paid $900 cash in dividends to the owner (sole shareholder) Prepare the Trial Balance. SPADE COMPANY Trial Balance May 31, 2017 Debit Credit
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!