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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 $17,000 cash
Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $17,000 cash in the company in exchange for common stock. b. The company purchased supplies for $493 cash. c. The company purchased $9,401 of equipment on credit. d. The company received $2,006 cash for services provided to a customer. e. The company paid $9,401 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,604 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,514 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). 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 Accounts payable $ 0 Totals $ 0 $ 0
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