1:56[The following information applies to the questions displayed below.]Following are the transactions of a new company called Pose-for-Pics.August 1 M. Harris, the owner, invested $13,750 cash and $59,125 ofphotography equipment in the company in exchange for commonstock.The company paid $2,600 cash for an insurance policy coveringthe next 24 months.August 2August 5August 20The company purchased supplies for $2,613 cash.The company received $2,350 cash from taking photos forcustomers.August 31 The company paid $879 cash for August utilities.Required:1. Post the transactions to the T-accounts.2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trialbalance for Pose-for-Pics.Complete this question by entering your answers in the tabs below.Required 1 Required 2

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Description: 1:56[The following information applies to the questions displayed below.]Following are the transactions of a new company called Pose-for-Pics.August 1 M. Harris, the owner, invested $13,750 cash and $59,125 ofphotography equipment in the company in

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Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $13,750 cash and $59,125 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,600 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,613 cash. August 20 The company received $2,350 cash from taking photos for customers. August 31 The company paid $879 cash for August utilities. Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. Complete this question by entering your answers in the tabs below. Required 1 Required 2

Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $13,750 cash and $59,125 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,600 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,613 cash. August 20 The company received $2,350 cash from taking photos for customers. August 31 The company paid $879 cash for August utilities. Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. Complete this question by entering your answers in the tabs below. Required 1 Required 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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