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Required information [The following information applies to the questions displayed below.] The transactions of KS Company appear below. a. KS Co. owner, invested $17,250 cash
Required information [The following information applies to the questions displayed below.] The transactions of KS Company appear below. a. KS Co. owner, invested $17,250 cash in the company in exchange for common stock. b. The company purchased supplies for $500 cash. c. The company purchased $9,539 of equipment on credit. d. The company received $2,036 cash for services provided to a customer. e. The company paid $9,539 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,657 for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,536 cash as partial payment for the account receivable created in transaction f 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. (Hint: Accounts must be listed in financia followed by liabilities, equity, revenues and expenses.) KS COMPANY Trial Balance May 31 Accounts payable Totals Debit Credit S 0 0 9
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