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 office supplies for $1,250 cash.
C. The company purchased $10,050 of office equipment on credit.
D. The company received $15,500 cash as fees for services provided to a customer.
E. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction
F. The company billed a customer $2,700 as fees 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
I. The company paid $10,000 cash in dividends to the owner (sole shareholder).
Check Cash ending balance, $94,850
Prepare the Trial Balance
SPADE COMPANY
Trial Balance
May 31, 2016
Debit Credit
Cash S 94850
Office supplies 1.250
Office equipment 10,050
Fees earned 2.700
Accounts payable 10.050
Common stock
Rent expense 1.225
Accounts receivable 16,625
Dividends 10,000