Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ACC 1810- Principles of Financial Accounting in-class activity # 3-Journal Entries and Posting Name: Exercise 2-9 Recording effects of transactions in T-accounts Prepare general journal

image text in transcribed
ACC 1810- Principles of Financial Accounting in-class activity # 3-Journal Entries and Posting Name: Exercise 2-9 Recording effects of transactions in T-accounts Prepare general journal entries to record the transactions below for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment: Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries a. Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock The company purchased $10,050 of office equipment on credit d. c. The company received $15.500 cash as fees for services provided to a customer. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c f. e. The company billed a customer $2,700 as fees for services provided. paid $1,225 cash for the monthly rent. . The company coltedpartiah payment for the account reeivable created in The company collected $1,125 cash as partial payment for the account receivable created in transaction f . The company paid $10,0o0 cash in dividends to the owner (sole shareholder) Post

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

More Books

Students also viewed these Accounting questions

Question

Choosing Your Topic Researching the Topic

Answered: 1 week ago

Question

The Power of Public Speaking Clarifying the

Answered: 1 week ago