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2 1.66 points eBook Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K.
2 1.66 points eBook Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $18,000 cash in the company in exchange for common stock. b. The company purchased supplies for $522 cash. c. The company purchased $9,954 of equipment on credit. d. The company received $2,124 cash for services provided to a customer. e. The company paid $9,954 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,816 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,603 cash as partial payment for the account receivable created in transaction f. Hint i. The company paid a $1,000 cash dividend to the owner (sole shareholder). Print References Prepare the Trial Balance. Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.) Cash Supplies Accounts payable Common stock Totals SPADE COMPANY Trial Balance May 31 Debit Credit $ 18,000 522 $ 0 18,000 $ 36,522
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