ARequired information[The following information applies to the questions displayed below.]Required:1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash;Receivable; Supplies; Equipment, Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense2. Post entries to T-accounts and the ending balances will be calculated.@The transactions of Spade Company appear below.a. Kacy Spade, owner, invested $11,500 cash in the company in exchange for common stock.b. The company purchased supplies for $334 cash.c. The company purchased $6,360 of equipment on credit.d. The company received $1,357 cash for services provided to a customer.e. The company paid $6,360 cash to settle the payable for the equipment purchased in transaction c.f. The company billed a customer $2,438 for services provided.g. The company paid $530 cash for the monthly rent.h. The company collected $1,02Tash as partial payment for the account receivable created in transaction fIi. The company paid a $900 cash dividend to the owner (sole shareholder).Complete this question by entering your answers in the tabs below.Required 1 Required 2f2#f3$f4f5%f6^< PrevXf71 of 5f8/Q ANext >*f9Xf10

The journal entries are prepared to record the transactions on regular basis. The T-accounts are…

f. The company billed a customer $2,438 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,02Tash as partial payment for the account receivable created in transaction f i. The company paid a $900 cash dividend to the owner (sole shareholder) red: Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cas Receivable; Supplies; Equipment, Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Exper Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below.

f. The company billed a customer $2,438 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,02Tash as partial payment for the account receivable created in transaction f i. The company paid a $900 cash dividend to the owner (sole shareholder) red: Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cas Receivable; Supplies; Equipment, Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Exper Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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