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a. K. Spade, owner, invested $17,750 cash in the company in exchange for common stock. b. The company purchased supplies for $515 cash. c. The
a. K. Spade, owner, invested $17,750 cash in the company in exchange for common stock. b. The company purchased supplies for $515 cash. c. The company purchased $9,816 of equipment on credit. d. The company received $2,095 cash for services provided to a customer. e. The company paid $9,816 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,763 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,580 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,000 cash dividend to the owner (sole shareholder). Exercise 2-14 (Algo) Preparing a trial balance LO P1 Prepare the Trial Balance. Use May 31 as its report date. Note: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.
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