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The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $13,250 cash in the company in exchange for common stock. b. The
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $13,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $384 cash. c. The company purchased $7,327 of office equipment on credit. d. The company received $1,563 cash as fees for services provided to a customer. e. The company paid $7,327 cash to settle the payable for the office equipment purchased in transaction c f. The company billed a customer $2,809 as fees for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,180 cash as partial payment for the account receivable created in transaction f i. The company paid a $800 cash dividend to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable: Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. View transaction list Journal entry worksheet
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