Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required Information Use the following information for Exercises 13-14 below. (Algo) [The following informotion opplies to the questions disployed below.] The transoctions of Spade Company
Required Information Use the following information for Exercises 13-14 below. (Algo) [The following informotion opplies to the questions disployed below.] The transoctions of Spade Company appear below. a. K. Spode, owner, invested $13,000 cosh in the compony in exchenge for common stock. b. The compony purchosed supplies for $377cosh. c. The compony purchosed $7,189 of equipment on credit. d. The compony received $1,534 cosh for services provided to o customer. e. The compony paid $7,189 cash to settle the poysble for the equipment purchased in tronssction c. f. The compony billed a customer $2,756 for services provided. g. The compony paid $520 cosh for the monthly rent. h. The compony collected $1,158 cosh 8 s partiol poyment for the account receivable crested in transaction f. 1. The compony paid o $800 cash dividend to the owner (sole shareholder). Exerelse 2-13 (Algo) Recording effects of transactions In T-accounts LO A1 Required: 1. Prepare general journal entries to record the tronsoctions of Spode Company by using the following occounts: Cosh; Accounts Receivsble; Supplies; Equipment; Accounts Poysble; Common Stock; Dividends; Services Revenue; and Rent Expense. 2 Post entries to T-sccounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below. Required Information Use the following information for Exercises 13-14 below. (Algo) [The following informotion opplies to the questions disployed below.] The transoctions of Spade Company appear below. a. K. Spode, owner, invested $13,000 cosh in the compony in exchenge for common stock. b. The compony purchosed supplies for $377cosh. c. The compony purchosed $7,189 of equipment on credit. d. The compony received $1,534 cosh for services provided to o customer. e. The compony paid $7,189 cash to settle the poysble for the equipment purchased in tronssction c. f. The compony billed a customer $2,756 for services provided. g. The compony paid $520 cosh for the monthly rent. h. The compony collected $1,158 cosh 8 s partiol poyment for the account receivable crested in transaction f. 1. The compony paid o $800 cash dividend to the owner (sole shareholder). Exerelse 2-13 (Algo) Recording effects of transactions In T-accounts LO A1 Required: 1. Prepare general journal entries to record the tronsoctions of Spode Company by using the following occounts: Cosh; Accounts Receivsble; Supplies; Equipment; Accounts Poysble; Common Stock; Dividends; Services Revenue; and Rent Expense. 2 Post entries to T-sccounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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