Homework SourseThe transactions of Spade Company appear below Kacy Spade ow
The transactions of Spade Company appear below.
Kacy Spade, owner, invested $17,750 cash in the company in exchange for common stock.
The company purchased office supplies for $515 cash.
The company purchased $9,816 of office equipment on credit.
The company received $2,095 cash as fees for services provided to a customer.
The company paid $9,816 cash to settle the payable for the office equipment purchased in transaction c.
The company billed a customer $3,763 as fees for services provided.
The company paid $515 cash for the monthly rent.
The company collected $1,580 cash as partial payment for the account receivable created in transaction f.
The company paid $1,100 cash in dividends to the owner (sole shareholder).
Prepare the Trial Balance.
Solution
Prepare trial balance :
| Debit | Credit | |
| Cash | 9479 | |
| Account receivable | 2183 | |
| Offic supplies | 515 | |
| Office equipment | 9816 | |
| Common stock | 17750 | |
| Dividend | 1100 | |
| Service revenue | 5858 | |
| Rent expenses | 515 | |
| Total | 23608 | 23608 |
