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. Kacy Spade, owner, invested $16,000 cash in the company in exchange for common stock b. The company purchased supplies for $464 cash, c. The company purchased $8,848 of equipment on credit d. The company received $1,888 cash for services provided to a customer. e. The company paid $8.848 cash to settle the payable for the equipment purchased in transaction c 1. The company billed a customer $3.392 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,425 cash es partial payment for the account receivable cieated in transaction f L. The compeny paid a $1,200 cashdividend to the owner (sole shareholder). Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepere general journal entries to record the transactions of Spade Company by using the following accounts Cash: Accounts Receivable, Suppliles; Equipment Accounts Payable: Common Stock; Dividends, Services Revenue, and Rent Expense 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below.
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. Kacy Spade, owner, invested $16,000 cash in the company in exchange for common stock b. The company purchased supplies for $464 cash, c. The company purchased $8,848 of equipment on credit d. The company received $1,888 cash for services provided to a customer. e. The company paid $8.848 cash to settle the payable for the equipment purchased in transaction c 1. The company billed a customer $3.392 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,425 cash es partial payment for the account receivable cieated in transaction f L. The compeny paid a $1,200 cashdividend to the owner (sole shareholder). Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepere general journal entries to record the transactions of Spade Company by using the following accounts Cash: Accounts Receivable, Suppliles; Equipment Accounts Payable: Common Stock; Dividends, Services Revenue, and Rent Expense 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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. Kacy Spade, owner, Invested $16,000 cash in the company in exchange for common stock
b. The company purchased supplies for $464 cash,
c. The company purchased $8,848 of equipment on credit
d. The company received $1,888 cash for services provided to a customer.
e. The company paid $8.848 cash to settle the payable for the equipment purchased in transaction c.
f. The company billed a customer $3,392 for services provided.
g. The company paid $525 cash for the monthly rent.
h. The company collected $1,425 cash as partial payment for the account receivable created in transaction f
L. The compony paid a $1,200 cashydividend to the owner (sole shareholder).
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: Common Stock; Dividends: Services Revenue, and Rent Expense
2. Post entries to T-accounts and the ending balances will be calculated.
Complete this question by entering your answers in the tabs below.
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