Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

View transaction list Journal entry worksheet Kacy Spade, owner, invested $18,750 cash in the company. Note: Enter debits before credits. Transaction General Journal Debit Credit

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
View transaction list Journal entry worksheet Kacy Spade, owner, invested $18,750 cash in the company. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general Journal View transaction list Journal entry worksheet The company purchased office supplies for $544 cash, Note: Enter debits before credits Transaction General Journal Debit Credit b Record entry Clear entry View general Journal Journal entry worksheet The company received $2,212 cash as fees for services provided to a customer Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal Rec Damurad View transaction list Journal entry worksheet The company billed a customer $3,975 as fees for services provided. Note: Enter debits before credits. General Journal Debit Credit Transaction f. Record entry Clear entry View general Journal View transaction list Journal entry worksheet 1 2 3 4 5 6 8 9 > The company paid $530 cash for the monthly rent. Note: Enter debits before credits. Transaction General Journal Debit Credit g. Record entry Clear entry View general journal View transaction list Journal entry worksheet The company collected $1,670 cash as partial payment for the account receivable created in transaction f. Note: Enter debits before credits. General Journal Dobit Credit Transaction h. Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 > Kacy Spade withdrew $1,100 cash from the company for personal use. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $18,750 cash in the company. b. The company purchased office supplies for $544 cash. c. The company purchased $10,369 of office equipment on credit. d. The company received $2,212 cash as fees for services provided to a customer. e. The company paid $10,369 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,975 as fees for services provided. 9. The company paid $530 cash for the monthly rent. h. The company collected $1,670 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $1,100 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above journal entries to T-accounts, which serves as the general ledger for this assignment. PETRELER RE Cash Accounts Receivable Cash Accounts Receivable Balance Balance 0 Office Supplies Office Equipment Balance Balance Accounts Payable K. Spade, Capital Balance 0 Balance 0 K. Spade, Withdrawals Fees Earned Balance 0 Balance 0 ave Help Accounts Payable K. Spado, Capital Balance 0 Balance 0 K. Spade, Withdrawals Fees Earned Balance Balance Rent Expense Balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Finance

Authors: Michael J. Jones

1st Edition

1118932072, 9781118932070

More Books

Students also viewed these Accounting questions

Question

Find the median for the set of measurements 2, 9, 11, 5, 6, 27.

Answered: 1 week ago