MGMT-026 Chapter 02 HW - Kids in Prison Program
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1. 1 o ut o f 1.00 point
??????????????????????????????u5;;?111eiiii0imaiioi1?:;1eaci1oi ?111e?1c;i10wiiiiiseparaiecasesi0caicuiaieffielii11-- Fees earned
Accounts receivable >-
1K. Spade, Withdrawals
Post the abov e journal entries to T-accounts, which serves as the general ledger for this assignment. Determine the ending balance of each T-account.
Cash 14,750.tl b
1,740./l e. 1,31 3./19 ?
428. /1 f
8,15 7. /
I 1,81 4
? Red t,:xt 1nd-cat~s no respon~ w-a-s .:xpected 1n a ce ll or a fcnru la ? bas~ calcu ?ation 1s i:icorrect:
no point'S de ducted
8.15 7. /I
+ _ [,
* Red t~Kt ind?ca.tes no resirons:.e v1as ex oect~d ir. a cell or a forrru!a?baie-:I calcu ation is incorrect;
no points dedu.aed
K. Spade, Withdrawals
K. Spade, Capital
*Red text ind?c.at.:s no responsa \11as exDect~d in a cell or a forrrula?bas~ calcu aticn is i-,correct; no points de.ducted.
1,74 0. /' 3,127. /
I I 4,867
1 out of 1.00 point
The transactions of Spade Company:
a. Kacy Spade, ow ner, invested $10,250 cash in tlhe company. b. The company purc hased office supplies for $297 cash.
c. The company purchased $5,668 of office equipment on credit. d . The company received $1 ,210 cash as fees for services provided to a customer. e. The company paid $5,668 cash to settle the pay able for the office equipment purchased in transaction c. f. The company billed a customer $2 ,173 as fees for services provided.
g . The company paid $515 cash for the monthly rent. h. The company collected $913 cash as partial pay ment for the account receivable created in transaction f. i. Kacy Spade, withdrew $900 cash from the company for personal use.
Prepare the Trial Balance. (Th e items in the Tr ial Balanc e shou ld be grouped as follows: Assets, Liabil ities, Equ ity, Revenues, and Expenses .)
May 31 , 2013
Cash Office supplies Office equipment Accounts receivable Accounts payable K. Spade, Capital K. Spade, Withdrawals Fees earned Rent expense
10,250. / 3,383. / 13,633
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1 out of
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