The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,000 cash in the company in exchange for common stock. b. The company purchased supplies for $551 cash. c. The company purchased $10,507 of equipment on credit. d. The company received $2,242 cash for services provided to a customer. e. The company paid $10,507 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,028 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,692 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,000 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 an expenses.

The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,000 cash in the company in exchange for common stock. b. The company purchased supplies for $551 cash. c. The company purchased $10,507 of equipment on credit. d. The company received $2,242 cash for services provided to a customer. e. The company paid $10,507 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,028 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,692 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,000 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 an expenses.

Name: The transactions of Spade Company appear below.a. K. Spade, owner, in
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Description: The transactions of Spade Company appear below.a. K. Spade, owner, invested $19,000 cash in the company in exchange for common stock.b. The company purchased supplies for $551 cash.c. The company purchased $10,507 of equipment on credit.d. The compa

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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