Question

Required information [The following information applies to the questions displayed below.] The transactions of Spade Company...

Required information

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

The transactions of Spade Company appear below.

  1. Kacy Spade, owner, invested $17,750 cash in the company in exchange for common stock.
  2. The company purchased office supplies for $515 cash.
  3. The company purchased $9,816 of office equipment on credit.
  4. The company received $2,095 cash as fees for services provided to a customer.
  5. The company paid $9,816 cash to settle the payable for the office equipment purchased in transaction c.
  6. The company billed a customer $3,763 as fees for services provided.
  7. The company paid $535 cash for the monthly rent.
  8. The company collected $1,580 cash as partial payment for the account receivable created in transaction f.
  9. The company paid $800 cash in dividends to the owner (sole shareholder).

Prepare the Trial Balance.

Homework Answers

Answer #1
PARTICULARS DEBIT CREDIT
Cash $         9,759
Office supplies $             515
office equipment $         9,816
Accounts receivable $         2,183
Rent $             535
Dividend $             800
Capital $         17,750
revenue $            5,858
$       23,608 $         23,608
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The transactions of Spade Company appear below. Kacy Spade, owner, invested $18,250 cash in the company...
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...
[The following information applies to the questions displayed below.] The accounts and balances for Paw Prints...
[The following information applies to the questions displayed below.] The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash 19,600 Fees Income -0- Accounts Receivable 840 Rent Expense -0- Office Equipment 2,400 Utilities Expense -0- Supplies 240 Salaries Expense -0- Accounts Payable 1,400 Kelly Connor, Capital 21,680 Kelly Connor, Drawing -0- The following transactions occurred during the month of November. Collected $340 from credit customers. Issued a check for $750 for November's rent. Paid...
Required information [The following information applies to the questions displayed below.] The T account balances for...
Required information [The following information applies to the questions displayed below.] The T account balances for the accounts of Rya’s Planning Services as of January 31, 2019 are listed below. Cash $ 22,900 Accounts Receivable 18,900 Office Supplies 650 Equipment 23,000 Accounts Payable 9,950 Rya Page, Capital 29,900 Rya Page, Drawing 7,000 Planning Fees Income 39,900 Office Supplies Expense 400 Rent Expense 1,000 Salaries Expense 5,000 Utilities Expense 900 Prepare a Trial Balance as of January 31, 2019. Account NameDebit...
Required information Skip to question [The following information applies to the questions displayed below.] On October...
Required information Skip to question [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,850 in assets in exchange for its common stock to launch the business. On October 31, the company’s records show the following items and amounts. Retained earnings, October 1 as $0. Cash $ 11,580 Cash dividends $ 1,890 Accounts receivable 13,860 Consulting revenue 13,860 Office supplies 3,140 Rent expense 3,390 Land 46,000...
Required information [The following information applies to the questions displayed below.] The accounting records of Nettle...
Required information [The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 2018 2019 Cash $ 49,570 $ 8,765 Accounts receivable 26,907 21,096 Office supplies 4,244 3,109 Office equipment 130,293 138,786 Trucks 50,986 59,986 Building 0 169,963 Land 0 42,411 Accounts payable 70,740 35,085 Note payable 0 112,374 2. Compute net income for 2019 by comparing total equity amounts for...
Required information [The following information applies to the questions displayed below.] Maben Company was started on...
Required information [The following information applies to the questions displayed below.] Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: Acquired $35,000 cash from the issue of common stock. Borrowed $47,000 cash from National Bank. Earned cash revenues of $63,000 for performing services. Paid cash expenses of $52,500. Paid a $2,500 cash dividend to the stockholders. Acquired an additional $35,000 cash from the issue of common stock. Paid $12,000 cash...
Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions...
Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a...
Required information [The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired...
Required information [The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $3,300 per machine. HEC usually sells these machines to hospitals at a price of $6,720. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,680. HEC is paid $6,720 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine...
Required information [The following information applies to the questions displayed below.] The following selected transactions occurred...
Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 480 shares of the company’s own common stock at $28 cash per share; the stock is now held in treasury. July 15 Issued 140 of the shares purchased on February 1 for $38 cash per share. Sept. 1 Issued 100 more of the shares purchased on February 1 for $23 cash per share. Prepare journal entries for each...
Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting...
Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company’s records show the following accounts and amounts for the month of August. Cash $ 25,350 C. Camry, Withdrawals $ 5,980 Accounts receivable 22,340 Consulting fees earned 26,980 Office supplies 5,230 Rent expense 9,530 Land 43,990 Salaries expense 5,590 Office equipment 19,980 Telephone expense 850 Accounts payable 10,660 Miscellaneous expenses...