Prepare general journal entries to record the transactions below 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. After recording the transactions, post them to T-accounts, which serves as the general ledger for this assignment. Determine the ending balance of each T-account. 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 cash as partial payment for the account receivable created in transaction f.Kacy Spade withdrew $10,000 cash from the company for personal use

We have the following information: Kacy Spade, owner, invested $100,750 cash in the company. The…

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Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1SDP

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Prepare general journal entries to record the transactions below 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. After recording the transactions, post them to T-accounts, which serves as the general ledger for this assignment. Determine the ending balance of each T-account.

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 cash as partial payment for the account receivable created in transaction f.

Kacy Spade withdrew $10,000 cash from the company for personal use

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