Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. K. Spade, owner, invested $16,250 cash in the company in exchange for common stock. b. The company purchased supplies for $471 cash. c. The

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
a. K. Spade, owner, invested $16,250 cash in the company in exchange for common stock. b. The company purchased supplies for $471 cash. c. The company purchased $8,986 of equipment on credit d. The company received $1,918 cash for services provided to a customer e. The company paid $8,986 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,445 for services provided. g. The company paid $535 cash for the monthly rent. h. The company collected $1,447 cash as partial payment for the account receivable created in transaction 1 1. The company paid a $900 cash dividend to the owner (sole shareholder). K. Spade, owner, invested $16,250 cash in the company in exchange for common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit a. The company purchased supplies for $471 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit b. The company purchased $8,986 of equipment on credit. Note: Enter debits before credits. Transaction General Journal Debit Credit C. The company received $1,918 cash for services provided to a customer. Note: Enter debits before credits. Transaction d. General Journal Debit Credit The company paid $8,986 cash to settle the payable for the equipment purchased in transaction c. Note: Enter debits before credits. Transaction General Journal Debit Credit e. The company billed a customer $3,445 for services provided. Note: Enter debits before credits. General Journal Debit Credit Transaction f.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl S. Warren, Philip E. Fess, James M. Reeve, C.Rollin Niswonger, Jim Reeve

18th Edition

0538839333, 978-0538839334

More Books

Students also viewed these Accounting questions

Question

Explain the functions of the subcutaneous layer.

Answered: 1 week ago