The transactions of Spade Company appear below. Kacy Spade, owner, invested $17,
ID: 2606427 • Letter: T
Question
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.
Explanation / Answer
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