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Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below.
Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $13,250 cash in the company in exchange for common stock. b. The company purchased supplies for $384 cash. c. The company purchased $7,327 of equipment on credit. d. The company received $1,564 cash for services provided to a customer. e. The company paid $7,327 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,809 for services provided. g. The company paid $510 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 $1,200 cash dividend to the owner (sole shareholder). Post entries to T-accounts and the ending balances will be calculated. Balance Balance Cash a. Supplies Accounts Receivable 13,250 d. h. 1,546 f. 1,180 7,327 Balance 13,250 b. 384 OL 384 Balance 4,601 Equipment C. 7,327 S < Prev 6 7 of 10 Next 7,327 EN alance alance Accounts Payable e. 7,327 7,327 Balance Common Stock 0 Dividends Services Revenue 1. 1,200 d. 1,564 Rent Expense OL 1,200 Balance 1,564 S < Prev 6 7 of 10 Next > Balance Rent Expense g. 510 510 Daidlice 1,304 < Required 1 Required 2 Prev 6 7 of 10 Next >
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