Description of this paper

Prepare the Trial Balance

Description

solution


Question

Exercise 2-10 Preparing a trial balance LO P2;The transactions of Spade Company;a. Kacy Spade, owner, invested $13,750 cash in the company.;b. The company purchased office supplies for $399 cash.;c. The company purchased $7,604 of office equipment on credit.;d. The company received $1,623 cash as fees for services provided to a customer.;e.;The company paid $7,604 cash to settle the payable for the office equipment purchased in transaction c.;f. The company billed a customer $2,915 as fees for services provided.;g. The company paid $510 cash for the monthly rent.;h.;The company collected $1,224 cash as partial payment for the account receivable created in transaction f.;i. Kacy Spade, withdrew $1,100 cash from the company for personal use.;Prepare the Trial Balance. (The items in the Trial Balance should be grouped as follows: Assets, Liabilities, Equity, Revenues, and Expenses.)

 

Paper#25770 | Written in 18-Jul-2015

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