The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in...

80.2K

Verified Solution

Question

Accounting

image

The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company in exchange for common stock. 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 $515 cash for the monthly rent. h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f. i. The company paid $800 cash in dividends to the owner (sole shareholder). Exercise 2-10 Preparing a trial balance LO P2 Prepare the Trial Balance. SPADE COMPANY Trial Balance May 31, 2018 Debit Credit Totals

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!
Become a Member

Other questions asked by students