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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
8
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F089b9af0-2e6c-4067-9f0c-f45298961db0%2F8b30aca8-f32b-486c-b5bb-b62612777d62%2F76cie9l_processed.png&w=3840&q=75)
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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