PDF Connect Chapter 2 Homework - MGMT-026
award:
1. 1 o ut o f 1.00 point
??????????????????????????????u5;;?111eiiii0imaiioi1?:;1eaci1oi ?111e?1c;i10wiiiiiseparaiecasesi0caicuiaieffielii11-- Fees earned
g.
Rent expense
- Cash
h.
Cash
Accounts receivable >-
I.
1K. Spade, Withdrawals
Cash
./
8,157. /
>--
. ti
I
?- 8,157./
./
3, 127./
./
3,127. /
./
. ti
- 530./-
530. /
1
./
1,313. /
"t
- >--e
1,31 3./
./
900. /
./'.
900. /I
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.
a.
./
d.
./
11.
./
Balance
Cash 14,750.tl b
1,740./l e. 1,31 3./19 ?
11.
7,788 :
./
428. /1 f
./
8,15 7. /
./
530. /
./
I
900. /
I
I'
Balance
Accounts Receivable
'
.
I
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
I
Office Supplies
JI
b.
./
+
428. /I
I
+
c.
Office Equipment
./
8.15 7. /I
+ _ [,
-
j Balance
428
Balance
8, 157
I
x
Accoun~ayable Xe
L
-.I
'8.1 57.,I'
I
IBalance
8,157
@alance
* 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
I.
./
900.11
-
IBalance
I
I900
I
I'
Balance
- rm
K. Spade, Capital
--
I a.
./
?1
4
I
I
Fees Earned
--
Id
./
It.
.I
I
I
Rent Expense
I
r=
530.11
I
IBalance
530 1?
*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.
1'313. /'
I
I
I
14,750. /
14,750
I
1,74 0. /' 3,127. /
I I 4,867
award:
4.
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 .)
SPADE COMPANY
Trial Balance
May 31 , 2013
Debit
Cash Office supplies Office equipment Accounts receivable Accounts payable K. Spade, Capital K. Spade, Withdrawals Fees earned Rent expense
Totals
./ $
4,993. /
./
297.,/
./
5,668. /
./
1,260. /
./
./
./
900. /
./
./
515. /
$
13,633 1$
Credit
10,250. / 3,383. / 13,633
award:
5.
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1 out of
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