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what would i put under common stock and services revenue? please help! Required information [The following information applies to the questions displayed below.] The transactions
what would i put under common stock and services revenue? please help!
Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $12,250 cash in the company in exchange for common stock. b. The company purchased supplies for $355 cash. c. The company purchased $6,774 of equipment on credit. d. The company received $1,446 cash for services provided to a customer. e. The company paid $6,774 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,597 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,091 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,100 cash dividend to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions of Spade Compa by using the following accounts: Cash; Accoun Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Equipment } \\ \hline c. & & & \\ \hline & & & \\ \hline & & & \\ \hline Balance & 6,774 & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline & & \multicolumn{2}{|c|}{ Services Revenue } \\ \hline & & & \\ \hline & & & \\ \hline Balance & & & \\ \hline & & & \\ \hline \end{tabular} Step by Step Solution
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