a. Kacy Spade, owner, invested $100,750 cash in the company. b. The company purchased office supplies for $1,250 cash. c. The company purchased $10,050 of office equipment on credit. d. The company received $15,500 cash as fees for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,700 as fees for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. 1. Kacy Spade withdrew $10,000 cash from the company for personal use.
a. Kacy Spade, owner, invested $100,750 cash in the company. b. The company purchased office supplies for $1,250 cash. c. The company purchased $10,050 of office equipment on credit. d. The company received $15,500 cash as fees for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,700 as fees for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. 1. Kacy Spade withdrew $10,000 cash from the company for personal use.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare general
transaction to identify entries. After recording the transactions, post them to T-accounts, which serve as the general ledger for this assignment. Determine the ending balance of each T-account.
![a. Kacy Spade, owner, invested $100,750 cash in the company.
b. The company purchased office supplies for $1,250 cash.
c. The company purchased $10,050 of office equipment on credit.
d. The company received $15,500 cash as fees for services provided to a customer.
e. The company paid $10,050 cash to settle the payable for the office equipment purchased in
transaction c.
f. The company billed a customer $2,700 as fees for services provided.
g. The company paid $1,225 cash for the monthly rent.
h. The company collected $1,125 cash as partial payment for the account receivable created in
transaction f.
1. Kacy Spade withdrew $10,000 cash from the company for personal use.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5acf9f50-50e9-43f9-91fd-c47c90553ccb%2Faf6b9998-5cd8-4b88-a0f4-295591e0acf4%2Fak9beh2a_processed.png&w=3840&q=75)
Transcribed Image Text:a. Kacy Spade, owner, invested $100,750 cash in the company.
b. The company purchased office supplies for $1,250 cash.
c. The company purchased $10,050 of office equipment on credit.
d. The company received $15,500 cash as fees for services provided to a customer.
e. The company paid $10,050 cash to settle the payable for the office equipment purchased in
transaction c.
f. The company billed a customer $2,700 as fees for services provided.
g. The company paid $1,225 cash for the monthly rent.
h. The company collected $1,125 cash as partial payment for the account receivable created in
transaction f.
1. Kacy Spade withdrew $10,000 cash from the company for personal use.
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