Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 2 (28 points) the following transactions

Question 2 (28 points) The following transactions occurred during Spector Enterprises's first month...

90.2K

Verified Solution

Question

Accounting

imageimage

Question 2 (28 points) The following transactions occurred during Spector Enterprises's first month of operations, June 2021: Jun 01 - The owner, Melvin Braveheart, created the company by investing $34,977 cash, a automobile worth $37,538 and $2,246 of computer, network and printing equipment. Jun 07 - The company purchased $5,788 of liability insurance for cash. Jun 07 - The company acquired pens, paperclips, and computer paper worth $2,879 on account. Jun 07 - Customers of Spector Enterprises paid $24,896 for services provided so far this month. Jun 08 - Melvin Braveheart told the bookkeeper to pay the employees $8,515 for their work this month. Jun 08 - The company purchased TV media advertising for $301. Jun 24 - The owner withdrew $7,770 for personal use. Jun 24 - The owner withdrew $7,770 for personal use. REQUIRED: 1. Prepare journal entries using the accounts provided in the general ledger. Ensure that your journal entries are in proper format. (10 marks) 2. Post the journal entries to the accounts in the general ledger. (10 marks) 3. Prepare the unadjusted trial balance. (8 marks) v Paragraph B I U v A/ oi + Lato (Recom... 19px ... Eo > o D O CH 2C

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Brief Exercise 6-5 Calculate ending inventory and cost of goodssold using FIFO (LO6-3)During the...Brief...

Accounting
Q

A pension fund manager is considering three mutual funds. The first is a stock fund, the...

Finance
Q

CASE: Parts Emporium Parts Emporium, Inc., is a wholesale distributor of automobile parts formed by two...

Operations Management
Q

How do I write an ethnography paper

Psychology
Q

Find a current article related to international financial management from either a newspaper (i.e. The Globe...

General Management
Q

Apply a business decision model to something you do every day, such as select an outfit,...

General Management
Q

Department S had no work in process at the beginning of the period. It added 11,400...

Accounting
Q

There are 7 erasers in a set. Grace buys 9 sets. After giving some erasers...

Basic Math
Q

MaxiDrive manufactures a wide variety of parts for recreational boating, including a gear and driveshaft...

Accounting
Q

Stock Dividends Witt Corporation has 70,000 shares of $5 par value common stock outstanding. At...

Accounting
Q

Hard Hat Company is in the process of purchasing several large pieces of equipment from...

Accounting
Q

On January 1, Mitzu Company pays a lump-sum amount of $2,600,000 for land, Building 1....

Accounting