The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company. b. The company purchased office supplies for $493 cash. c. The company purchased $9,401 of office equipment on credit. d. The company received $2,006 cash as fees for services provided to a customer. e. The company paid $9,401 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,604 as fees for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $1,200 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.

The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company. b. The company purchased office supplies for $493 cash. c. The company purchased $9,401 of office equipment on credit. d. The company received $2,006 cash as fees for services provided to a customer. e. The company paid $9,401 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,604 as fees for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $1,200 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.

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Description: Complete this question by entering your answers in the tabs below.Required 1 Required 2Prepare general journal entries to record the transactions above for Spade Company by using the following accounts:Receivable; Office Supplies; Office Equipment;

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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