a. K. Spade, owner, invested $14,250 cash in the company in exchange for common stock. b....
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66577f0dd6d8c_18966577f0dcf137.jpg)
Transcribed Image Text:
a. K. Spade, owner, invested $14,250 cash in the company in exchange for common stock. b. The company purchased supplies for $413 cash. c. The company purchased $7,880 of equipment on credit. d. The company received $1,682 cash for services provided to a customer. e. The company paid $7,880 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,021 for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,269 cash as partial payment for the account receivable created in transaction f 1. The company paid a $800 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets firm followed by liabilities, equity, revenues and expenses.) SPADE COMPANY Trial Balance Cash Accounts receivable Supplies Equipment Accounts payable Accounts receivable May 31 Debit Credit $ 0 a. K. Spade, owner, invested $14,250 cash in the company in exchange for common stock. b. The company purchased supplies for $413 cash. c. The company purchased $7,880 of equipment on credit. d. The company received $1,682 cash for services provided to a customer. e. The company paid $7,880 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,021 for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,269 cash as partial payment for the account receivable created in transaction f 1. The company paid a $800 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets firm followed by liabilities, equity, revenues and expenses.) SPADE COMPANY Trial Balance Cash Accounts receivable Supplies Equipment Accounts payable Accounts receivable May 31 Debit Credit $ 0
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
The region between x = 0 and x = d is free space and has v = po(x d)/d. If V(x = 0) = 0 and V(x = d) = Vo, find: (a) V and E, (b) The surface charge densities at x = 0 and x = d.
-
Understand a management control system and how it relates to organizational goals.
-
Ackerley Media Group, Inc., claimed to have a three-season advertising Team Sponsorship Agreement (TSA) with Sharp Electronics Corporation to promote Sharp products at all Seattle Supersonics NBA...
-
Which option describes the end behavior of the function f(x)=5(x-6) (x+3)(3x+2)?
-
Given a n-type Si semiconductor with an Au metal contact (no oxide layer), calculate the depletion width for: (a) no applied bias (b) a forward bias of 0.05 v You may assume: T=300K, n, = 101%cm,...
-
Describe the file ownership levels in a UNIX file system such as EXT3 (4 points). How are permissions enforced in these filesystems?
-
In 2 0 2 0 , to meet the demand for the Covid - 1 9 epidemic prevention and control machine, tCDC Hanoi purchased the automatic Realtime PCR system through the Vietnam Trade & Scientific Materials...
-
Describe Three major advantages and three disadvantages of each: MS-DOS operating system: Windows operating system UNIX and Linux operating system Android operating system iOS operating system macOS...
-
Two alloys, X and Y, are made from four metals, A, B, C and D according to the following specifications: Alloy Selling Price (S) Specifications At least 450 tons of A At most 160 tons of B At least...
-
A product costs $14. When the price increases by $2, the quantity demanded decreases by 15 units. The price elasticity of demand is unitary when the price increases from $14 to $16. What is the...
-
A company receives rent for subletting part of its office block. Rent, receivable quarterly in advance, is received as follows: Date of receipt Period covered 1 October 20X1 30 December 20X1 4 April...
-
Fire Safety Products, Inc. manufactures steel cylinders and nozzles for two models of fire extinguishers: (1) a home fire extinguisher and (2) a commercial fire extinguisher. The home model is a...
-
Anika Paar, the owner of a nine-hole golf course on the outskirts of Hamilton, Ontario, is considering the proposal that the course be illuminated and operated at night. Ms. Paar purchased the course...
-
Jackson Electronics manufactures two large-screen television models: the Royale which sells for \($1,600\), and a new model, the Majestic, which sells for \($1,300\). The pro- duction cost computed...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App