Question
Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below] The transactions of Spade
Required information Use the following information for Exercises 13-14 below. (Algo) [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 settle the payable for the equipment purchased in transaction c f. The company billed a customer $2.703 for services provided. g. The company paid $535 cash for the monthly rent h. The company collected $1,135 cash as partial payment for the account receivable created in transaction i. The company paid a $900 cash dividend to the owner (sole shareholder) Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 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. Complete this question by entering your answers in the tabs below.
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