Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $11,750 cash in the company. b. The company purchased supplies for $341 cash. c. The company purchased $6,498 of equipment on credit. d. The company received $1,387 cash for services provided to a customer. e. The company paid $6,498 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,491 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,046 cash as partial payment for the account receivable created in transaction f. i. K. Spade withdrew $900 cash from the company for personal use. Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated.
Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $11,750 cash in the company. b. The company purchased supplies for $341 cash. c. The company purchased $6,498 of equipment on credit. d. The company received $1,387 cash for services provided to a customer. e. The company paid $6,498 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,491 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,046 cash as partial payment for the account receivable created in transaction f. i. K. Spade withdrew $900 cash from the company for personal use. Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section: Chapter Questions
Problem 6AP
Related questions
Question
![Required information
Use the following information for Exercises 13-14 below. (Algo)
[The following information applies to the questions displayed below.]
The transactions of Spade Company appear below.
a. K. Spade, owner, invested $11,750 cash in the company.
b. The company purchased supplies for $341 cash.
c. The company purchased $6,498 of equipment on credit.
d. The company received $1,387 cash for services provided to a customer.
e. The company paid $6,498 cash to settle the payable for the equipment purchased in transaction c.
f. The company billed a customer $2,491 for services provided.
g. The company paid $530 cash for the monthly rent.
h. The company collected $1,046 cash as partial payment for the account receivable created in transaction f.
i. K. Spade withdrew $900 cash from the company for personal use.
Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1
Required:
1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts
Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent
Expense.
2. Post entries to T-accounts and the ending balances will be calculated.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F87bf4365-9120-4764-9bba-94d8dfd996b8%2F83b3a5f8-2507-4248-93f9-29072d6e3bc7%2Fjarrzdn_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for Exercises 13-14 below. (Algo)
[The following information applies to the questions displayed below.]
The transactions of Spade Company appear below.
a. K. Spade, owner, invested $11,750 cash in the company.
b. The company purchased supplies for $341 cash.
c. The company purchased $6,498 of equipment on credit.
d. The company received $1,387 cash for services provided to a customer.
e. The company paid $6,498 cash to settle the payable for the equipment purchased in transaction c.
f. The company billed a customer $2,491 for services provided.
g. The company paid $530 cash for the monthly rent.
h. The company collected $1,046 cash as partial payment for the account receivable created in transaction f.
i. K. Spade withdrew $900 cash from the company for personal use.
Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1
Required:
1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts
Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent
Expense.
2. Post entries to T-accounts and the ending balances will be calculated.
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