ts For the following transactions of Spade Company, (1) prepare general journal entries and to T-accounts and calculate the ending balance of each T-account. Use the following accounts: Cash; Ac- counts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. a. K. Spade, owner, invested $100,750 cash in the company. b. The company purchased supplies for $1.250 cash. c. The company purchased $10,050 of equipment on credit. d. The company received $15,500 cash for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,700 for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. i. K. Spade withdrew $10,000 cash from the company for personal use.

ts For the following transactions of Spade Company, (1) prepare general journal entries and to T-accounts and calculate the ending balance of each T-account. Use the following accounts: Cash; Ac- counts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. a. K. Spade, owner, invested $100,750 cash in the company. b. The company purchased supplies for $1.250 cash. c. The company purchased $10,050 of equipment on credit. d. The company received $15,500 cash for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,700 for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. i. K. Spade withdrew $10,000 cash from the company for personal use.

Name: unts*For the following transactions of Spade Company, (1) prepare gen
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Description: unts*For the following transactions of Spade Company, (1) prepare general journal entries and (2) post entriesto T-accounts and calculate the ending balance of each T-account. Use the following accounts: Cash; Ac-counts Receivable; Supplies; Equipme

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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