Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to...
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Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $16,500 cash in the company in exchange for common stock. b. The company purchased supplies for $479 cash. c. The company purchased $9,125 of equipment on credit. d. The company received $1,947 cash for services provided to a customer. e. The company paid $9,125 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,498 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,469 cash as partial payment for the account receivable created in transaction f. i. The company paid a $800 cash dividend to the owner (sole shareholder). Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post entries to T-accounts and the ending balances will be calculated. Balance Balance Balance Balance Balance Cash Supplies Balance Balance Accounts Payable Dividends Rent Expense Balance Balance Accounts Receivable Equipment Common Stock Services Revenue < Required 1 Required 2 > Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $16,500 cash in the company in exchange for common stock. b. The company purchased supplies for $479 cash. c. The company purchased $9,125 of equipment on credit. d. The company received $1,947 cash for services provided to a customer. e. The company paid $9,125 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,498 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,469 cash as partial payment for the account receivable created in transaction f. i. The company paid a $800 cash dividend to the owner (sole shareholder). Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post entries to T-accounts and the ending balances will be calculated. Balance Balance Balance Balance Balance Cash Supplies Balance Balance Accounts Payable Dividends Rent Expense Balance Balance Accounts Receivable Equipment Common Stock Services Revenue < Required 1 Required 2 >
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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