Question

The transactions of Spade Company appear below.

1. Kacy Spade, owner, invested $13,250 cash in the company in exchange for common stock.
2. The company purchased office supplies for $384 cash.
3. The company purchased $7,327 of office equipment on credit.
4. The company received $1,564 cash as fees for services provided to a customer.
5. The company paid $7,327 cash to settle the payable for the office equipment purchased in transaction c.
6. The company billed a customer $2,809 as fees for services provided.
7. The company paid $525 cash for the monthly rent.
8. The company collected $1,180 cash as partial payment for the account receivable created in transaction f.
9. The company paid $1,100 cash in dividends to the owner (sole shareholder).

Prepare the Trial Balance.

Answer 1

Trial balance

	Debit	Credit
Cash	6658
Account receivable	1629
Office supplies	384
Office equipment	7327
Account payable		0
Common Stock		13250
Dividend	1100
Service revenue		4373
Rent expense	525
Total	17623	17623