Required information [The following information applies to the questions displayed below.) The transactions of Spade Company appear below.a. K. Spade, owner, invested $14,500 cash in the company in exchange for common stock.b. The company purchased supplies for $421 cash.c. The company purchased $8,019 of equipment on credit.d. The company received $1,711 cash for services provided to a customer.e. The company paid $8,019 cash to settle the payable for the equipment purchased in transaction c.f. The company billed a customer $3,074 for services provided.g. The company paid $530 cash for the monthly rent.h. The company collected $1,291 cash as partial payment for the account receivable created in transaction f.i. The company paid a $900 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. 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. \table[[SPADE COMPANY,], [Trial Balance..]. [May 31..]. [. Debit Credit].[...]. [Accounts payable..S 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 69 $ 0 0 $ 0
Required information [The following information applies to the questions displayed below.) The transactions of Spade Company appear below.a. K. Spade, owner, invested $14,500 cash in the company in exchange for common stock.b. The company purchased supplies for $421 cash.c. The company purchased $8,019 of equipment on credit.d. The company received $1,711 cash for services provided to a customer.e. The company paid $8,019 cash to settle the payable for the equipment purchased in transaction c.f. The company billed a customer $3,074 for services provided.g. The company paid $530 cash for the monthly rent.h. The company collected $1,291 cash as partial payment for the account receivable created in transaction f.i. The company paid a $900 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. 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. \table[[SPADE COMPANY,], [Trial Balance..]. [May 31..]. [. Debit Credit].[...]. [Accounts payable..S 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 69 $ 0 0 $ 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required information [The following information applies to the questions displayed below.) The transactions of Spade Company appear below.a. K. Spade,
owner, invested $14,500 cash in the company in exchange for common stock.b. The company purchased supplies for $421 cash.c. The company purchased
$8,019 of equipment on credit.d. The company received $1,711 cash for services provided to a customer.e. The company paid $8,019 cash to settle the
payable for the equipment purchased in transaction c.f. The company billed a customer $3,074 for services provided.g. The company paid $530 cash for the
monthly rent.h. The company collected $1,291 cash as partial payment for the account receivable created in transaction f.i. The company paid a $900 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. 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.
\table[[SPADE COMPANY,], [Trial Balance..]. [May 31..]. [. Debit Credit].[...]. [Accounts payable..S](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52a34349-4060-41e9-a350-0d1b2d4b595e%2F986d0d35-c644-45d3-aef3-81b096ad54ae%2Fbwr021g_processed.jpeg&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 $14,500 cash in the company in exchange for common stock.b. The company purchased supplies for $421 cash.c. The company purchased
$8,019 of equipment on credit.d. The company received $1,711 cash for services provided to a customer.e. The company paid $8,019 cash to settle the
payable for the equipment purchased in transaction c.f. The company billed a customer $3,074 for services provided.g. The company paid $530 cash for the
monthly rent.h. The company collected $1,291 cash as partial payment for the account receivable created in transaction f.i. The company paid a $900 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. 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.
\table[[SPADE COMPANY,], [Trial Balance..]. [May 31..]. [. Debit Credit].[...]. [Accounts payable..S
Transcribed Image Text: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
69
$
0
0 $
0
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