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Please help, what amount goes in the cash section? Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to
Please help, what amount goes in the cash section?
Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $10,500 cash in the company in exchange for common stock. b. The company purchased supplies for $305 cash. c. The company purchased $5,807 of equipment on credit. d. The company received $1,239 cash for services provided to a customer. e. The company paid $5,807 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,226 for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $935 cash as partial payment for the account receivable created in transaction f. i. The company paid a $800 cash dividend to the owner (sole shareholder). Exercise 2-14 (Algo) Preparing a trial balance LO P1 Prepare the Trial Balance. Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.) Exercise 2-14 (Algo) Preparing a trial balance LO P1 Prepare the Trial Balance. Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.) SPADE COMPANY Trial Balance May 31 Debit Credit Cash Accounts receivable 1,291 305 Supplies Equipment Accounts payable 5,807 $ 0 Common stock 10,500 Dividends 800 Services revenue 3,465 Rent expense 520 Totals $ 8,723 $ 13,965Step by Step Solution
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