The transactions of Spade Company appear below. Kacy Spade, owner, invested $14,000 cash in the company....

The transactions of Spade Company appear below.

Kacy Spade, owner, invested $14,000 cash in the company.
The company purchased office supplies for $406 cash.
The company purchased $7,742 of office equipment on credit.
The company received $1,652 cash as fees for services provided to a customer.
The company paid $7,742 cash to settle the payable for the office equipment purchased in transaction c.
The company billed a customer $2,968 as fees for services provided.
The company paid $530 cash for the monthly rent.
The company collected $1,247 cash as partial payment for the account receivable created in transaction f.
Kacy Spade withdrew $1,100 cash from the company for personal use.

Prepare the Trial Balance. Use May 31 as its report date.

Solutions

Expert Solution

Please feel Free to like answer if it was Helpful

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

The transactions of Spade Company appear below. Kacy Spade, owner, invested $16,000 cash in the company...

The transactions of Spade Company appear below. Kacy Spade, owner, invested $16,000 cash in the company in exchange for common stock. The company purchased office supplies for $464 cash. The company purchased $8,848 of office equipment on credit. The company received $1,888 cash as fees for services provided to a customer. The company paid $8,848 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $3,392 as fees for services provided. The...

The transactions of Spade Company appear below. Kacy Spade, owner, invested $15,500 cash in the company...

The transactions of Spade Company appear below. Kacy Spade, owner, invested $15,500 cash in the company in exchange for common stock. The company purchased office supplies for $450 cash. The company purchased $8,572 of office equipment on credit. The company received $1,829 cash as fees for services provided to a customer. The company paid $8,572 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $3,286 as fees for services provided. The...

Kacy Spade, owner, invested $100,750 cash in the company. The company purchased office supplies for $1,250...

Kacy Spade, owner, invested $100,750 cash in the company. The company purchased office supplies for $1,250 cash. The company purchased $10,050 of office equipment on credit. The company received $15,500 cash as fees for services provided to a customer. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,700 as fees for services provided. The company paid $1,225 cash for the monthly rent. The company collected $1,125...

Post the transactions to the General Ledger accounts. January 1 Owner, Tom Ford, invested $260,000 cash...

Post the transactions to the General Ledger accounts. January 1 Owner, Tom Ford, invested $260,000 cash along with office equipment that had a $90,000 market value in exchange for 35,000 shares of $10 par value common stock in Celebrity Consultants, Inc. January 1 Purchased land and an office building for $140,000, of which $20,000 was attributable to the fair market value of the land. A $50,000 cash down payment was made and a 5% five-year note was signed for the...

(Steven’s Bikes began operations in April 2017 and had the following transactions. Owner invested $120,000 cash...

(Steven’s Bikes began operations in April 2017 and had the following transactions. Owner invested $120,000 cash and a truck worth $36,000 in exchange for stock. Paid $84,000 cash for 6 months’ rent. Purchased $300,000 of bicycle inventory on credit. Sold bicycles for cash of $507,000. The cost of the bikes sold was $180,000. Sold and invoiced bicycles to a client for $95,400. The cost of the bikes sold was $48,000. Paid $90,000 cash for an advertising campaign in connection with...

Nuncio Consulting completed the following transactions during June a. Nuncio, the owner, invested $35,000 cash along...

Nuncio Consulting completed the following transactions during June a. Nuncio, the owner, invested $35,000 cash along with office equipment valued at $11,000 in the new company. b. The company purchased land valued at $ 7,500 and a building valued at $40,000. The purchase is paid with $15,000 cash and a long-term note payable for $32,500 c. The company purchased $500 of office supplies on credit d. Nuncio invested his personal automobile in the company. The automobile has a value of...

Transactions of Sky Company for the month of December 2017 are presented below: 1. The owner...

Transactions of Sky Company for the month of December 2017 are presented below: 1. The owner invested $400,000 to start his business. 2. Purchased equipment for $48,000, paying $12,000 cash and the remaining amount will be paid after 10 days. 3. Purchased office supplies on credit for $3,200. 4. Invested additional $160,000 cash in the business. 5. Services billed to customers amounted to $20,000. 6. Received a bill for $1,200 for advertising of the current month. 7. Paid $10,000 as...

Aracel Engineering completed the following transactions in the month of June. Jenna Aracel, the owner, invested...

Aracel Engineering completed the following transactions in the month of June. Jenna Aracel, the owner, invested $230,000 cash, office equipment with a value of $6,900, and $70,000 of drafting equipment to launch the company in exchange for common stock. The company purchased land worth $58,000 for an office by paying $8,100 cash and signing a long-term note payable for $49,900. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. The company...

Aracel Engineering completed the following transactions in the month of June. a.Jenna Aracel, the owner, invested...

Aracel Engineering completed the following transactions in the month of June. a.Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock. b.The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-term note payable for $42,700. c.The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d.The company...

Aracel Engineering completed the following transactions in the month of June. a.Jenna Aracel, the owner, invested...

Aracel Engineering completed the following transactions in the month of June. a.Jenna Aracel, the owner, invested $170,000 cash, office equipment with a value of $7,600, and $73,000 of drafting equipment to launch the company in exchange for common stock. b.The company purchased land worth $60,000 for an office by paying $6,400 cash and signing a long-term note payable for $53,600. c.The company purchased a portable building with $58,000 cash and moved it onto the land acquired in b. d.The company...

Subjects