$2-$Homework $($i$)$

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Required information

Use the following information for Exercises $13-14$ below. $($Static$)$

$[$The following information applies to the questions displayed below.$]$

The transactions of Spade Company appear below.

a$.$ K$.$ Spade, owner, invested $$100,750$ cash in the company in exchange for common stock.

b$.$ The company purchased supplies for $$1,250$ cash.

c$.$ The company purchased $$10,050$ of equipment on credit.

d$.$ The company received $$15,500$ cash for services provided to a customer.

e$.$ The company paid $$10,050$ cash to settle the payable for the equipment purchased in transaction $c.$

f$.$ The company billed a customer $$2,700$ for services provided.

g$.$ The company paid $$1,225$ cash for the monthly rent.

h$.$ The company collected $$1,125$ cash as partial payment for the account receivable created in transaction $f.$

i$.$ The company paid a $$10,000$ cash dividend to the owner $($sole shareholder$).$

Exercise $2-14($Static$)$ Preparing a trial balance LO P$1$

Prepare the Trial Balance. Use May $31$ as its report date.

Note: Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues expenses.

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