Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below] The transactions of Spade Company appear below. a. K. Spade, owner, invested $12,750 cash

image text in transcribed
image text in transcribed
image text in transcribed
Required information [The following information applies to the questions displayed below] The transactions of Spade Company appear below. a. K. Spade, owner, invested $12,750 cash in the company in exchange for common stock. b. The company purchased supplies for $370 cash c. The company purchased $7,051 of equipment on credit. d. The company received $1,505 cash for services provided to a customer. e. The company paid $7,051 cash to sertle the payable for the equipment purchased in transaction c 1. The company billed a customer $2,703 for services provided 9. The company paid $515 cash for the monthly rent. h. The company collected $1,135 cash as partial payment for the account receivable created in transaction f. i. The company paid a $900 cash dividend to the owner (sole shareholder). lired: Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash: Accounts Recelvable: Supplies; Equipment, Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. Journal entry worksheet 23456789 K. Spade, owner, invested $12,750 cash in the company in exchange for common stock. Whe ther detibs before gedain. (1) Required information \begin{tabular}{|l|l|l|l|} \hline & & \multicolumn{2}{|c|}{ Cash } \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Balance & & & \\ \hline \end{tabular} Dividends Services Revenue

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

Students also viewed these Accounting questions

Question

8. Explain the contact hypothesis.

Answered: 1 week ago

Question

7. Identify four antecedents that influence intercultural contact.

Answered: 1 week ago