Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you please show how you get the anwser i will know how to do it in the future Prepare general journal entries to record

can you please show how you get the anwser i will know how to do it in the future image text in transcribed
Prepare general journal entries to record the transactions below for Spade Company by using the lollow- Exerci ing accounts: Cash; Accounts Receivable: Orfice Supplies; Office Equipment Accounts Payable: Record K. Spade, Capital: K. Spade, Withdrawals: Fees Earned; and Rent Expense. Use the letters beside each transa transaction to identify entries. After recording the transactions, post them to T-accounts, which serve as A1 the general ledger for this assignment. Determine the ending balance of each T-account. a. Kacy Spade, owner, invested $100.750 cash in the company. b. The company purchased office supplies for $1.250 cash. c. The company purchased $10,050 of office equipment on credit. d. The company received $15,500 cash as fees for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,700 as fees for services provided. g. The company paid $1,225 cash for the monthly rent. n. The company collected $1,125 cash as partial payment for the account receivable created in transactions i. Kacy Spade withdrew $10,000 cash from the company for personal use

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

Financial Accounting For Undergraduates

Authors: Wallace

4th Edition

1618533088, 9781618533081

More Books

Students also viewed these Accounting questions

Question

Explain how interest rate changes affect a bonds return.

Answered: 1 week ago

Question

What shorter and longer-term career goals spark your interest?

Answered: 1 week ago