elunneuutation.com/flow/connect.html The transactions of Spade Company appear be

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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

Explanation / Answer

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)

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