I ne transactions of Spade Company appear below. a. K. Spade, owner, invested $17,500 cash in the company." b. The company purchased supplies for $508 cash. c. The company purchased $9,678 of equipment on credit. d. The company received $2,065 cash for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,710 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,558 cash as partial payment for the account receivable created in transaction f i. K. Spade withdrew $1,000 cash from the company for personal use. ercise 2-14 (Algo) Preparing a trial balance LO P1

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
The transactions of Spade Company appear below.
a. K. Spade, owner, invested $17,500 cash in the company."
b. The company purchased supplies for $508 cash.
c. The company purchased $9,678 of equipment on credit.
d. The company received $2,065 cash for services provided to a customer.
e. The company paid $9,678 cash to settle the payable for the equipment purchased in transaction c.
f. The company billed a customer $3,710 for services provided.
9. The company paid $530 cash for the monthly rent.
h. The company collected $1,558 cash as partial payment for the account receivable created in transaction f
i. K. Spade withdrew $1,000 cash from the company for personal use.
Exercise 2-14 (Algo) Preparing a trial balance LO P1
Prepare the Trial Balance. Use May 31 as its report date.
Cash
K. Spade, Capital
Supplies
K. Spade, Withdrawals
Equipment
Rent expense
Services revenue
Accounts receivable
Totals
Answer is not complete.
SPADE COMPANY
Trial Balance
May 31
Debit
IS 9,407
508
1,000
9,678
530
$ 21,123
Credit
17,500
2,065
2,152 X
$ 21,717
4
Transcribed Image Text:The transactions of Spade Company appear below. a. K. Spade, owner, invested $17,500 cash in the company." b. The company purchased supplies for $508 cash. c. The company purchased $9,678 of equipment on credit. d. The company received $2,065 cash for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,710 for services provided. 9. The company paid $530 cash for the monthly rent. h. The company collected $1,558 cash as partial payment for the account receivable created in transaction f i. K. Spade withdrew $1,000 cash from the company for personal use. Exercise 2-14 (Algo) Preparing a trial balance LO P1 Prepare the Trial Balance. Use May 31 as its report date. Cash K. Spade, Capital Supplies K. Spade, Withdrawals Equipment Rent expense Services revenue Accounts receivable Totals Answer is not complete. SPADE COMPANY Trial Balance May 31 Debit IS 9,407 508 1,000 9,678 530 $ 21,123 Credit 17,500 2,065 2,152 X $ 21,717 4
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education