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Exercise 2-13 Recording effects of transactions in T-accounts A1 Check Cash ending balance. $94.850 For the following transactions of Spade Company, (1) prepare general
Exercise 2-13 Recording effects of transactions in T-accounts A1 Check Cash ending balance. $94.850 For the following transactions of Spade Company, (1) prepare general journal entries and (2) post entries to T-accounts and calculate the ending balance of each T-account. Use the following accounts: Cash: Ac counts Receivable; Supplies; Equipment; Accounts Payable: K. Spade, Capital: K. Spade, Withdrawals Services Revenue; and Rent Expense. a. K. Spade, owner, invested $100,750 cash in the company. b. The company purchased supplies for $1,250 cash c. The company purchased $10,050 of equipment on credit. d. The company received $15.500 cash for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $2,700 for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1.125 cash as partial payment for the account receivable created in transaction f I. K. Spade withdrew $10,000 cash from the company for personal use. C Equ D. Be Use informa transactions.
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