Assignment Print
View
5/12/20, 10(27
PM
Score: 10/10 Points 100 %
2. Award: 1.42 out of 1.42 points
The transactions of Spade Company appear below.
a. Kacy Spade, owner, invested $16,750 cash in the company in exchange for common
stock.
b. The company purchased office supplies for $486 cash.
c. The company purchased $9,263 of office equipment on credit.
d. The company received $1,977 cash as fees for services provided to a customer.
e. The company paid $9,263 cash to settle the payable for the office equipment
purchased in transaction c.
f. The company billed a customer $3,551 as fees for services provided.
g. The company paid $530 cash for the monthly rent.
h. The company collected $1,491 cash as partial payment for the account
receivable created in transaction f.
i. The company paid a $1,200 cash dividend to the owner (sole shareholder).
Prepare the Trial Balance. Use May 31 as its report date.
Assignment Print
View
5/12/20, 10(27
PM
Assignment Print
View
5/12/20, 10(27
PM
Page
2
of
The transactions of Spade Company appear below.
Kacy Spade, owner, invested $16,750 cash in the company in exchange for common stock.
The company purchased office supplies for $486 cash.
The company purchased $9,263 of office equipment on credit.
The company received $1,977 cash as fees for services provided to a customer.
The company paid $9,263 cash to settle the payable for the office equipment purchased in
transaction c.
The company billed a customer $3,551 as fees for services provided.
The company paid $530 cash for the monthly rent.
The company collected $1,491 cash as partial payment for the account receivable created in
transaction f.
The company paid a $1,200 cash dividend to the owner (sole shareholder).
Prepare the Trial Balance. Use May 31 as its report date.
SPADE COMPANY
Trial Balance
May 31
Debit Credit
Cash ✓$
8,739
✓
Accounts receivable ✓2,060 ✓
Office supplies ✓486 ✓
Office equipment ✓9,263 ✓
Accounts payable ✓0 ✓
Common stock ✓16,750 ✓
Dividends ✓1,200 ✓
Fees earned ✓5,528 ✓
Rent expense ✓530 ✓
Totals $22,278 $22,278
Assignment Print
View
5/12/20, 10(27
PM
Page
3
of
SPADE COMPANY
Trial Balance
May 31
Debit Credit
Cash $8,739
Accounts receivable 2,06
0
Office supplies 486
Office equipment 9,26
3
Accounts payable
Common stock 16,750
Dividends 1,20
0
Fees earned 5,528
Rent expense 530
Totals F $
22,278
F $
22,278
Explanation:
Cash
a. 16,750 b. 486 Accounts Receivable
f. 3,551 h. 1,491
2,060
Office Supplies Office Equipment
b. 486 c.
9,263
Balance 486 Balance 9,26
3
Accounts Payable Common Stock
e.
9,263
c. 9,263 a. 16,750
Balance 0Balance 16,750
d. 1,977 e.
h. 1,491 g.
i.
Balance 8,739
Assignment Print
View
5/12/20, 10(27
PM
Page
4
of
Dividends
i. 1,200
Balance 1,200
Fees Earned
d. 1,977
f. 3,551
Balance 5,528
Rent Expense
Assignment Print
View
5/12/20, 10(27
PM
Page
5
of
g. 530
Balance 530
