FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Required 1 Required 2
Prepare general journal entries to record the transactions above for Spade Company by using the following accounts:
Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Ear
Expense. Use the letters beside each transaction to identify entries.
View transaction list
Journal entry worksheet
1
2
3
4 5 6 7 8 9
>
Kacy Spade, owner, invested $17,000 cash in the company.
Note: Enter debits before credits.
Transaction
General Journal
a.
Record entry
Clear entry
Debit
Credit
View general journal
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Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Ear Expense. Use the letters beside each transaction to identify entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Kacy Spade, owner, invested $17,000 cash in the company. Note: Enter debits before credits. Transaction General Journal a. Record entry Clear entry Debit Credit View general journal
The transactions of Spade Company appear below.
a. Kacy Spade, owner, invested $17,000 cash in the company.
b. The company purchased office supplies for $493 cash.
c. The company purchased $9,401 of office equipment on credit.
d. The company received $2,006 cash as fees for services provided to a customer.
e. The company paid $9,401 cash to settle the payable for the office equipment purchased in transaction c.
f. The company billed a customer $3,604 as fees for services provided.
g. The company paid $530 cash for the monthly rent.
h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f.
i. Kacy Spade withdrew $1,200 cash from the company for personal use.
Required:
1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash;
Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned;
and Rent Expense. Use the letters beside each transaction to identify entries.
2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.
Comploto this question by ontoring your answers in the tabo holow
expand button
Transcribed Image Text:The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,000 cash in the company. b. The company purchased office supplies for $493 cash. c. The company purchased $9,401 of office equipment on credit. d. The company received $2,006 cash as fees for services provided to a customer. e. The company paid $9,401 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,604 as fees for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,514 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade withdrew $1,200 cash from the company for personal use. Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment. Comploto this question by ontoring your answers in the tabo holow
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