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The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16,500 cash in the company in exchange for common stock. b. The company
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $479 cash. c. The company purchased $9,125 of office equipment on credit. d. The company received $1,947 cash as fees for services provided to a customer. e. The company paid $9,125 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,498 as fees for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,469 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. SPADE COMPANY Trial Balance May 31 Debit Credit Cash Common stock 16,500 479 Office supplies Office equipment 9,125 Fees earned 5,445 Accounts receivable Rent expense 515 Dividends 1,200 Totals $ 11,319 $ 21,945
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