The transactions of Spade Company appear below.
a. Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock.
b. The company purchased supplies for $1,250 cash.
c. The company purchased $10,050 of equipment on credit.
d. The company received $15,500 cash for services provided to a customer.
e. The company paid $10,050 cash to settle the payable for the equipment purchased in transaction c.
f. The company billed a customer $2,700 for services provided.
g. The company paid $1,225 cash for the monthly rent.
h. The company collected $1,125 cash as partial payment for the account receivable created in transaction f.
i. The company paid a $10,000 cash dividend to the owner (sole shareholder).
Required:
Prepare general journal entries.
Answers: 2
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The transactions of Spade Company appear below.
a. Kacy Spade, owner, invested $100,750 cash in th...
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