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The transactions of Spade Company appear below. Kacy Spade, owner, invested $14,500 cash in the company. The company purchased office supplies for $421 cash. The
The transactions of Spade Company appear below.
- Kacy Spade, owner, invested $14,500 cash in the company.
- The company purchased office supplies for $421 cash.
- The company purchased $8,019 of office equipment on credit.
- The company received $1,711 cash as fees for services provided to a customer.
- The company paid $8,019 cash to settle the payable for the office equipment purchased in transaction c.
- The company billed a customer $3,074 as fees for services provided.
- The company paid $535 cash for the monthly rent.
- The company collected $1,291 cash as partial payment for the account receivable created in transaction f.
- Kacy Spade withdrew $900 cash from the company for personal use.
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; K. Spade, Capital; K. Spade, Withdrawals; 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.
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; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries... View transaction list View journal entry worksheet No Transaction General Journal Credit Debit 14,500 Cash K. Spade, Capital 14,500 2b. Office supplies Cash 421 3 c 8,019 Office equipment Accounts payable 8,019 4 d 1,711 Cash Fees earned 8,019 Accounts payable Cash 8,019 3,074 Accounts receivable Fees earned 3 074 535 Rent expense Cash 8 h. 1,291 Cash Accounts receivable 1.291 900 K. Spade, Withdrawals Cash 900 Post the above journal entries to T-accounts, which serves as the general ledger for this assignment. Cash Accounts Receivable HEESE Balance Balance Office Supplies Office Equipment Balance Balance Accounts Payable K. Spade, Capital Balance Balance K. Spade, Withdrawals Fees Earned Balance 0 Balance Rent Expense BalanceStep by Step Solution
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