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Exercise 2-10 Preparing a trial balance LO P2-The transactions of Spade Company

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Question;Exercise 2-10 Preparing a trial balance LO P2The 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#38366 | Written in 18-Jul-2015

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