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Required Information [The following information applies to the questions displayed below) The transactions of Spade Company appear below a. K. Spade, owner, invested $11,000
Required Information [The following information applies to the questions displayed below) The transactions of Spade Company appear below a. K. Spade, owner, invested $11,000 cash in the company in exchange for common stock b. The company purchased supplies for $319 cash c. The company purchased $6.083 of equipment on credit. d. The company received $1.298 cash for services provided to a customer e. The company paid $6,083 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $2,332 for services provided g. The company paid $515 cash for the monthly rent h. The company collected $979 cash as partial payment for the account receivable created in transaction 1. The company paid a $1,200 cash dividend to the owner (sole shareholder) Required: 1. 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 2. Post entries to T-accounts and the ending balances will be calculated Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1- Required 2 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. No Transaction General Journal Cash Common stock Supplies 00 00 Debit Credit 11,000 11,000 319 O 3150
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