All categories

3 years ago

The transactions of Spade Company:

Business

2 answers:

Ilia_Sergeevich [38]3 years ago

6 0

Answer:

The below in the explanation the required journal entries as requested.

Explanation:

The journal entries required for Spade Company are as follows:

a Dr Cash $100,750

Cr Common stock $100,750

Being capital invested in the business

b. Dr Office supplies $1,250

Cr Cash $1,250

Being purchase of office supplies

c.Dr Office equipment $10,050

Cr Accounts payable $10,050

Being purchase of equipment on account

d. Dr Cash $15,500

Cr Fees earned $15,500

Being receipt of cash for services rendered

e.Dr Accounts payable $10,050

Cr. Cash $10,050

Being payment for office equipment bought on account

f.Dr Accounts receivable $2700

Cr Fees earned $2700

Being amount billed for services

g. Dr Rent Expense $1,225

Cr Cash $1225

Being monthly rent paid

h. Dr Cash $1,225

Cr Accounts receivable $1,225

Being payment received from accounts receivable

i. Dr Dividends $10,000

Cr Cash $10,000

Being withdrawal cash from the business.

Artyom0805 [142]3 years ago

3 0

Answer:

KACY SPADE COMPANY TRIAL BALANCE AS AT 31st MAY 2016

DEBIT SIDE

Dr cash $94,850

Dr Account receivable 1575

Dr office supplies1,250

Dr Office equipment 10,050

Account payable 0

DrDividends10,000

DrRent expense1,225

Total$118,950

CREDIT SIDE

Cr Commonstock100,750

Cr Fees earned18,200

Totals$118,950

EXPLANATION

1.Cash

Dr a.100,750

Dr d.15,500

Dr h.1,125

Cr b.1,250

Cr e.10,050

Cr g.1,225

Cr i.10,000

The difference between both Debit and credit side =Balance 94,850

2.Accounts Receivable

Dr f.2,700 Cr b.1,125

The difference between both Debit and credit side Balance 1,575

3.Office Supplies

Dr a.1,250

Balance1,250

4. Office Equipment

Dr c.10,050

Balance 10,050

5.Accounts Payable

Dr e.10,050 Cr c.10,050

Balance 0

6.Common Stock

Cr a.100,750

Balance 100,750

7.Dividends

Dr i.10,000

Balance 10,000

8.Fees Earned

Cr d.15,500

Cr f.2,700

Balance 18,200

9. Rent Expense

Dr g.1,225

Balance 1,225

You might be interested in

Mideast Airlines purchased a 777 aircraft on January 1, 2020 at a cost of

iren [92.7K]

Answer:

3,400,000 accumulated depreciation, 36,600,000 book value

Explanation:

Cost - salvage = amount to be depreciated

40,000,000-6,000,000=34,000,000 amount to be deprecated

34,000,000/20 years =1,700,000 depreciation per year

1,700,000x2-3,400,000 accumulated depreciation after 2 years

40,000,000-3,400,000=36,600,000 book value

8 0

3 years ago

Even if you are willing to take on more responsibility, you need to make sure that ______. a. you do not take on too much b. you

pentagon [3]

Tricky tricky. I'll go with 'A. you do not take too much' from experience.

4 0

4 years ago

Read 2 more answers

If a beneficiary wants to make sure that the life insurance proceeds being paid out are not exhausted before he or she dies, th

Naya [18.7K]

Answer:

Option d. Fixed period

Explanation:

time is very essential. Anytime the policy owner specifies payment to be guaranteed for a specific period regardless of who is the beneficiary, policy owner or who receive the payment,is the fixed period settlement option.

Anything that occur to annuity after the owner's death is dependent on the type of annuity and its payout plan.

A fixed-period, is that which is for a certain period of time. the annuity guarantees payments to the annuitant for a set length of time. example is about 10, 15, or 20 years and case payments will continue to be paid to the beneficiary until the time given or period is due or when account’s balance reaches zero.

3 0

3 years ago

Tenant terrell and landlord lorna enter into a commercial agreement wherein terrell will lease a small office space in a strip m

krok68 [10]

After entering into a commercial lease agreement, the answer is since there is no right of first refusal, all Terrell can do is ask Lorna whether she will lease the adjoining space to him.

<h3><u>What is a commercial lease agreement?</u></h3>

A commercial lease is an agreement for the rental of property between a landlord and a company. Because renting costs less money than buying, most businesses will prefer to do so.
Because the terms are changeable and change significantly from lease to lease, commercial lease agreements are more difficult than residential leases.
Understanding the terms of the lease, which outline each party's obligations and rights, is crucial before signing a business lease.

Verify that the conditions of a commercial lease agreement will suit the demands of the company before signing. Unfavorable outcomes may result from failing to establish requirements before signing a lease.

Know more about commercial lease agreement with the help of the given link:

brainly.com/question/14479023

#SPJ4

6 0

2 years ago

A trial balance can best be explained as a list of: Multiple Choice The balance sheet accounts used to show the equality of the

zalisa [80]

Answer:

All accounts and their balances at a particular date

Explanation:

The trial balance is the total of the all accounts belong to the income statement, retained earnings, balance sheet. Also their debit and credit balance are totalled and equalled to each other

So as per the given options, all other options except the above one are wrong as it represent to the particular statement i.e. totally incorrect

Therefore the above represent the answer

3 0

3 years ago