## Question

###### 5 The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $11,250 cash in...

5 The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $11,250 cash in the company in exchange for common stock b. The company purchased office supplies for $326 cash e. The company purchased $6,221 of office equipment on credit. d. The company received $1,328 cash as fees for services provided to a customer e. The company paid $6,221 cash to settle the payable for the office equipment purchased in transaction c f. The company billed a c g. The company paid $520 cash for the monthly rent. h. The company collected $1,002 cash as partial payment for the account receivable created in transaction f L. The company paid a $1.100 cash dividend to the owner (sole shareholder) r $2,385 as fees for services provided Prepare the Trial Balance. Use May 31 as its report date. Trial Balance 1.100

## Answers

SPADE COMPANYTRIAL BALANCE31-MayINDIVIDUAL ENTRIES ACCOUNTS TITLE DEBIT $ CREDIT $ a b c d e f g h i Cash 5413 11250 -326 1328 -6221 -520 1002 -1100 Office Supplies 326 326 Accounts Receivable 1383 2385 -1002 Office equipment 6221 6221 Accounts payable 0 -6221 6221 Common Stock -11250 -11250 Fees earned -3713 -1328 -2385 Rent expense 520 520 Dividend paid 1100 1100 Total 14963 -14963 0 0 0 0 0 0 0 0 0

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