The transactions of Spade Company appear below. Kacy Spade, owner, invested $12,

Question

The transactions of Spade Company appear below. Kacy Spade, owner, invested $12,500 cash in the company in exchange for common stock. The company purchased office supplies for $363 cash. The company purchased $6,913 of office equipment on credit. The company received $1,475 cash as fees for services provided to a customer. The company paid $6,913 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,650 as fees for services provided. The company paid $520 cash for the monthly rent. The company collected $1,113 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 the Trial Balance.

Cash = (12500-363-6913+1475-520+1113-1100) =

Debit Credit Common stock 12500 Office Supplies 363 Cash 6192 Office equipment 6913 Account receivable 1537 Dividend 1100 Service revenue 4125 Rent expenses 520 Total 16625 16625

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