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Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $14,750 cash in the company in exchange for common stock. b. The company purchased supplies for $428 cash. c. The company purchased $8,157 of equipment on credit. d. The company received $1,741 cash for services provided to a customer. e. The company paid $8,157 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,127 for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,313 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). repare the Trial Balance. Use May 31 as its report date. lote: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and xpenses. Accounts payable Totals SPADE COMPANY Trial Balance May 31 Debit $ Credit 0

Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $14,750 cash in the company in exchange for common stock. b. The company purchased supplies for $428 cash. c. The company purchased $8,157 of equipment on credit. d. The company received $1,741 cash for services provided to a customer. e. The company paid $8,157 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,127 for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,313 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). repare the Trial Balance. Use May 31 as its report date. lote: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and xpenses. Accounts payable Totals SPADE COMPANY Trial Balance May 31 Debit $ Credit 0

FINANCIAL ACCOUNTING
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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Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $14,750 cash in the company in exchange for common stock. b. The company purchased supplies for $428 cash. c. The company purchased $8,157 of equipment on credit. d. The company received $1,741 cash for services provided to a customer. e. The company paid $8,157 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,127 for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,313 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). Prepare the Trial Balance. Use May 31 as its report date. Note: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses. Accounts payable Totals SPADE COMPANY Trial Balance May 31 Debit $ Credit 0
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $14,750 cash in the company in exchange for common stock. b. The company purchased supplies for $428 cash. c. The company purchased $8,157 of equipment on credit. d. The company received $1,741 cash for services provided to a customer. e. The company paid $8,157 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,127 for services provided. g. The company paid $520 cash for the monthly rent. h. The company collected $1,313 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). Prepare the Trial Balance. Use May 31 as its report date. Note: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses. Accounts payable Totals SPADE COMPANY Trial Balance May 31 Debit $ Credit 0
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