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A$1$

For the following transactions of Spade Company, $(1)$ prepare general journal entries and $(2)$ post entries to T$-$accounts and calculate the ending balance of each T$-$account. Use the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense.

a$.$ K$.$ Spade, owner, invested $$100,750$ cash in the company in exchange for common stock.

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$.$ The company paid a $$10,000$ cash dividend to the ownerI$($sole shareholder$).$

Check Cash ending balance, $$94,850$

Preparing a trial balance

P$1$

After recording the transactions of Exercise $2-13$ in T$-$accounts and calculating the balance of each account, prepare a trial balance. Use May $31$ as its report date.

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