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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 $11,500 cash in the company in exchange for common stock. b. The company purchased supplies for $334 cash. c. The company purchased $6,360 of equipment on credit. d. The company received $1,357 cash for services provided to a customer. e. The company paid $6,360 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,438 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,024 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). Exercise 2-14 (Algo) Preparing a trial balance LO P1 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
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