elunneuutationcomflowconnecthtml The transactions of Spade C

elunneuutation.com/flow/connect.html The transactions of Spade Company appear below a Kacy Spade, owner, Invested $16,000 cash in the company in exchange for common stock b. The company purchased office supplies for $464 cash c The company purchased $8848 of office equipment on credit d. The company received $1,888 cash as tees for services provided to a customer. e. The company paid $8.,848 cash to settle the payable for the office equipment purchased in transaction c t The company billed a customer $3,392 as fees for services provided g. The company pald $530 cash for the monthly rent h. The company collected $1,425 cash as partial payment for the account recevable created in transaction f i. The company paid St000 cash in dvidends to the owner (sole shareholder) Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts. Cash, Accounts Receivable: Otfice Supplies, Office Equipment Accounts Payable Common Stock Dividends, Fees Earned, and Rent Expense. Use the letters beside each transaction to identify entries 2 Post the above journal entries to Taccounts, which serve as the general ledger for this assignment Complete this question by entering your answers in the tabs below Required 1- Required 2 Post the above journal entries to T-accounts, which serve as the general ledger for this assignment Balance

Solution

Solution 1:

Solution 2:

Journal Entries - Spade Company
Event	Particulars	Debit	Credit
a	Cash Dr	$16,000.00
	To Common Stock		$16,000.00
	(To record issue of common stock)
b	Office Supplies Dr	$464.00
	To Cash		$464.00
	(To record purchase of office supplies)
c	Office equipment Dr	$8,848.00
	To Accounts payable		$8,848.00
	(To record purchase of equipment)
d	Cash Dr	$1,888.00
	To Fees earned		$1,888.00
	(To record fees earned)
e	Accounts payable Dr	$8,848.00
	To Cash		$8,848.00
	(To record payment to supplier of equipment)
f	Accounts receivables Dr	$3,392.00
	To Fees earned		$3,392.00
	(To record amount billed to customer for service provided)
g	Rent Expense Dr	$530.00
	To Cash		$530.00
	(To record rent payment)
h	Cash Dr	$1,425.00
	To Accounts Receivables		$1,425.00
	(To record collection from customer)
i	Dividends Dr	$1,000.00
	To Cash		$1,000.00
	(To record dividend payment)