Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required Information (The following information applies to the questions displayed below) The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,250 cash
Required Information (The following information applies to the questions displayed below) The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $500 cash. C. The company purchased $9,539 of office equipment on credit. d. The company received $2.036 cash as fees for services provided to a customer e. The company paid $9.539 cash to settle the payable for the office equipment purchased in transactionc 1. The company bied a customer $3,657 as fees for services provided. g. The company paid $530 cash for the monthly rent h. The company collected $1.536 cash as partial payment for the account receivable created in transaction L. The company paid $1,000 cash in dividends to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash: Accounts Receivable: Office Supplies: Office Equipment Accounts Payable: Common Stock Dividends: Fees Earned, and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment Complete this question by entering your answers in the tabs below. Required information Required 1 Required 2 Post the above journal entries to T-accounts, which serve as the general ledger for this assignment. Accounts Receivable Cash I Balance 0 Office Supplies Office Equipment 0 Balance 0 Accounts Payable mmon Stock Dividends
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started