The transactions of Spade Company appear below. a. K. Spade, owner, invested $16,500 cash in the...

 

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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. 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.