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The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,750 cash in the company in exchange for common stock. b. The company purchased supplies for $573 cash. c. The company purchased $10,922 of equipment on credit. d. The company received $2,331 cash for services provided to a customer. e. The company paid $10,922 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $4,187 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,759 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. (Hint: Accounts must be listed in financial statement order: Assets first, ollowed by liabilities, equity, revenues and expenses.) Accounts payable Tunin SPADE COMPANY Trial Balance May 31 Debit $ Credit 0

The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,750 cash in the company in exchange for common stock. b. The company purchased supplies for $573 cash. c. The company purchased $10,922 of equipment on credit. d. The company received $2,331 cash for services provided to a customer. e. The company paid $10,922 cash to settle the payable for the equipment purchased in transaction c f. The company billed a customer $4,187 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,759 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. (Hint: Accounts must be listed in financial statement order: Assets first, ollowed by liabilities, equity, revenues and expenses.) Accounts payable Tunin SPADE COMPANY Trial Balance May 31 Debit $ Credit 0

FINANCIAL ACCOUNTING
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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The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,750 cash in the company in exchange for common stock. b. The company purchased supplies for $573 cash. c. The company purchased $10,922 of equipment on credit. d. The company received $2,331 cash for services provided to a customer. e. The company paid $10,922 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,187 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,759 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. (Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.) Accounts payable Toimin SPADE COMPANY Trial Balance May 31 Debit $ Credit 0
Transcribed Image Text:The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,750 cash in the company in exchange for common stock. b. The company purchased supplies for $573 cash. c. The company purchased $10,922 of equipment on credit. d. The company received $2,331 cash for services provided to a customer. e. The company paid $10,922 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,187 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,759 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. (Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.) Accounts payable Toimin SPADE COMPANY Trial Balance May 31 Debit $ Credit 0
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