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3 years ago

The transactions of Spade Company:

Business

1 answer:

diamong [38]3 years ago

5 0

Answer:

Trial Balance

Debit Credit

Cash $8,982

($16,500 - $479 + $1,947 - $9,125 - $530 + $1,469 - $800)

Common Stock $16,500

Office Supplies $479

Office Equipment $9,125

Accounts Payable ($9.125 - $9,125) $0

Service Fees ($1,947 + $3,498) $5,445

Accounts Receivable ($3,498 - $1,469) $4,967

Rent Expense $530

Dividends $800

Totals $21,945 $21,945

Explanation:

A trial Balance is a list of balances that are extracted from the ledger accounts from which the financial statements are prepared.

First Record the Transaction, then determine account balances.

Cash $16,500 (debit)

Common Stock $16,500 (credit)

Office Supplies $479 (debit)

Cash $479 (credit)

Office Equipment $9.125 (debit)

Accounts Payable $9.125 (credit)

Cash $1,947 (debit)

Service Fees $1,947 (credit)

Accounts Payable $9,125 (debit)

Cash $9,125 (credit)

Accounts Receivable $3,498 (debit)

Service Fees $3,498 (credit)

Rent Expense $530 (debit)

Cash $530 (credit)

Cash $1,469 (debit)

Accounts Receivable $1,469 (credit)

Dividends $800 (debit)

Cash $800 (credit)

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