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 $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 f. The company billed a customer $3,657 for services provided. g. The company paid $510 cash for the monthly rent h. The company collected $1,536 cash as partial payment for the account receivable created in transaction 1. The company paid a $1,000 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 Journal entry worksheet K. Spade, owner, invested $17,250 cash in the company in exchange for common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit a Accounts payable Accounts receivable Cash Common stock Record en Dividends View general journal Journal entry worksheet K. Spade, owner, invested $17,250 cash in the company in exchange for common stock. Note: Enter debits before credits Transaction General Journal Debit Credit a Dividends Equipment Rent expense Services revenue Record en Supplies View general journal Journal entry worksheet The company purchased supplies for $500 cash. Note: Enter debits before credits. Transaction b. General Journal Debit eredit M Record entry Clear entry View general journal Required information Journal entry worksheet The company received $2,036 cash for services provided to a customer. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal Required information Journal entry worksheet The company collected $1,536 cash as partial payment for the account receivable created in transaction f. Note: Enter debits before credits. General Journal Debit Credit Transaction h. Record entry Clear entry View general journal ! Required information Journal entry worksheet The company paid a $1,000 cash dividend to the owner (sole shareholder). Note: Enter debits before credits Transaction i. General Journal Debit Credit Record entry Clear entry View general journal WONORE WORTH Required information Cash Accounts Receivable Balance Balance Supplies Equipment Balance Balance Accounts Payable Common Stock Balance Balance Dividends Services Revenue Balance Balance Rent Expense Balance
