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Could you let me know the answer that I get wrong. I can not figure out. Thanks a lot! Return to question The transactions of
Could you let me know the answer that I get wrong. I can not figure out. Thanks a lot!
Return to question The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $13,250 cash in the company. b. The company purchased office supplies for $384 cash c. The company purchased $7,327 of office equipment on credit d. The company received $1,563 cash as fees for services provided to a customer. e. The company paid $7,327 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,809 as fees for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,180 cash as partial payment for the account receivable created in transaction f. I. Kacy Spade withdrew $900 cash from the company for personal use. Required: 1. Prepare general Journal entries to record the transactions above for Space Company by using the following accounts: Cash: Accounts Receivable; Office Supplies; Office Equipment Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment Answer is not comnlete Required 1 Required 2 Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. No Transaction General Journal Debit Credit 1 a Cash 4,048 X 2 b Office supplies 384 3 c. Office equipment 7,327 4 d Cash 1,563 5 e. Office equipment 7,327 Arnainte Panamahla ano 2 b. Office supplies > 384 3 C Office equipment 7,327 4 d. Cash 1,563 5 e. Office equipment x 7,327 6 f. Accounts receivable 2,809 7 g. Rent expense 525 8 h. Accounts receivable & x 1,180 9 i. K. Spade, Withdrawals 900 Reu Required 1 Required 2 Post the above journal entries to T-accounts, which serves as the general ledger for this assignment. Cash Accounts Receivable 4,048 X 1,629 Balance 1,629 Balance 4.048 Office Supplies 384 Office Equipment 7,327 b. e. Balance 384 Balance 7,327 Accounts Payable K. Spade, Capital 13,250 X a. Balance 0 Balance 13,250 Fees Earned K. Spade, Withdrawals 900 i. Balance 900 Balance 0 Rent Expense 525 g 525Step by Step Solution
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