subject
Business, 07.10.2019 17:30 restinpeicejahseh

The transactions of spade company appear below. kacy spade, owner, invested $100,750 cash in the company in exchange for common stock. 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. the company paid $10,000 cash in dividends to the owner (sole shareholder). required: 1. prepare general journal entries to record the transactions above for spade company by using the following accounts: cash; accounts receivable; office supplies; office equipment; accounts payable; common stock; dividends; fees earned; and rent expense. use the letters beside each transaction to identify entries. 2. post the above journal entries to t-accounts, which serve as the general ledger for this assignment.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 17:50
Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?
Answers: 1
question
Business, 22.06.2019 19:50
Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?
Answers: 2
question
Business, 22.06.2019 20:30
The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.
Answers: 3
question
Business, 22.06.2019 20:30
Casey communications recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. this action had no effect on the company's total assets or operating income. which of the following effects would occur as a result of this action? a. the company's current ratio increased.b. the company's times interest earned ratio decreased.c. the company's basic earning power ratio increased.d. the company's equity multiplier increased.e. the company's debt ratio increased.
Answers: 3
You know the right answer?
The transactions of spade company appear below. kacy spade, owner, invested $100,750 cash in the com...
Questions
question
Mathematics, 28.04.2021 21:10
question
Mathematics, 28.04.2021 21:10
question
Mathematics, 28.04.2021 21:10
question
Mathematics, 28.04.2021 21:10
Questions on the website: 13722362