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The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company in exchange for common stock. b. The company
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company in exchange for common stock. b. The company purchased office supplies for $493 cash. c. The company purchased $9,401 of office equipment on credit. d. The company received $2,006 cash as fees for services provided to a customer. e. The company paid $9,401 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,604 as fees for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f. i. The company paid $800 cash in dividends 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. Use the letters beside each transaction to identify entries. 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 2 3 4 5 6 7 8 9 Kacy Spade, owner, invested $17,000 cash in the company in exchange for common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Post the above journal entries to T-accounts, which serve as the general ledger for this assignment. Cash Accounts Receivable Balance 0 Balance Office Supplies Office Equipment Balance Balance Accounts Payable Common Stock Balance Balance Dividends Fees Earned Balance Balance 0 0 Rent Expense Balance
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