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Exercise 2-10 Preparing a trial balance LO P2 The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $11,750 cash in the company
Exercise 2-10 Preparing a trial balance LO P2 The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $11,750 cash in the company in exchange for common stock b. The company purchased office supplies for $341 cash. c. The company purchased $6,498 of office equipment on credit. d. The company received $1,387 cash as fees for services provided to a customer. e. The company paid $6,498 cash to settle the payable for the office equipment purchased in transaction a f. The company billed a customer $2,491 as fees for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,046 cash as partial payment for the account receivable created in transaction f. 1. The company paid a $1,100 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. SPADE COMPANY Trial Balance May 31 Dobit 17,446 1,445 Credit Cash Accounts receivable office supplies Office equipment Accounts payable Common stock Dividends -- i. The company paid a $1,100 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. SPADE COMPANY Trial Balance May 31 Debit $ 17,446 1.445 Credit Cash Accounts receivable Office supplies Office equipment Accounts payable Common stock Dividends Fees earned Rent expense Totals $ 18,891 $
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