HCC Company Finances General Journal Worksheet

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Use the following information for Exercises 13-14 below. (Algo)

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The transactions of Spade Company appear below.

1. K. Spade, owner, invested $12,750 cash in the company in exchange for common stock.
2. The company purchased supplies for $370 cash.
3. The company purchased $7,051 of equipment on credit.
4. The company received $1,505 cash for services provided to a customer.
5. The company paid $7,051 cash to settle the payable for the equipment purchased in transaction c.
6. The company billed a customer $2,703 for services provided.
7. The company paid 0 cash for the monthly rent.
8. The company collected $1,135 cash as partial payment for the account receivable created in transaction f.
9. The company paid a $900 cash dividend to the owner (sole shareholder).
   

   Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1

   Required:
   1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense.
   2. Post entries to T-accounts and the ending balances will be calculated.