Required Information [The following information applies to the questions displayed below] The transactions of Spade Company appear below. a. K. Spade, owner, Invested $18,000 cash in the company in exchange for common stock. b. The company purchased supplies for $522 cash. c. The company purchased $9,954 of equipment on credit. d. The company received $2,124 cash for services provided to a customer. e. The company paid $9,954 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $3,816 for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,603 cash as partial payment for the account receivable created in transaction f 1. The company paid a $1,100 cash dividend to the owner (sole shareholder). Prepare the Trial Balance, Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first, ollowed by liabilities, equity, revenues and expenses.)

Required Information [The following information applies to the questions displayed below] The transactions of Spade Company appear below. a. K. Spade, owner, Invested $18,000 cash in the company in exchange for common stock. b. The company purchased supplies for $522 cash. c. The company purchased $9,954 of equipment on credit. d. The company received $2,124 cash for services provided to a customer. e. The company paid $9,954 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $3,816 for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,603 cash as partial payment for the account receivable created in transaction f 1. The company paid a $1,100 cash dividend to the owner (sole shareholder). Prepare the Trial Balance, Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first, ollowed by liabilities, equity, revenues and expenses.)

Name: Prepare the Trial Balance. Use May 31 as its report date. (Hint: Acco
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Description: Prepare the Trial Balance. Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first,followed by llabilities, equity, revenues and expenses.)CashSuppliesEquipmentAccounts receivableAccounts payableRent

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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