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The transactions of Spade Company appear below. a. K. Spade, owner, invested $14,500 cash in the company in exchange for common stock. b. The
The transactions of Spade Company appear below. a. K. Spade, owner, invested $14,500 cash in the company in exchange for common stock. b. The company purchased supplies for $421 cash. c. The company purchased $8,019 of equipment on credit. d. The company received $1,711 cash for services provided to a customer. e. The company paid $8,019 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $3,074 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,291 cash as partial payment for the account receivable created in transaction f i. The company paid a $1,200 cash dividend to the owner (sole shareholder). 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
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