Harris, the owner, invested $12, 750 cash and $54, 825 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,500 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,423 cash. August 20 The company received $2,000 cash from taking photos for customers. August 31 The company paid $869 cash for August utilities. Required: Post the transactions to the T-accounts. Use the amounts from the T - accounts in Requirement (1) to prepare an August 31 trial balance for Pose - for - Pics.

Harris, the owner, invested $12, 750 cash and $54, 825 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,500 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,423 cash. August 20 The company received $2,000 cash from taking photos for customers. August 31 The company paid $869 cash for August utilities. Required: Post the transactions to the T-accounts. Use the amounts from the T - accounts in Requirement (1) to prepare an August 31 trial balance for Pose - for - Pics.

Name: 5Use the amounts from the T-accounts in Requirement (1) to prepare an
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Description: 5Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics.CashSuppliesPrepaid insuranceEquipmentCommon stockServices revenueUtilities expenseTotalsPOSE-FOR-PICSTrial BalanceAugust 31$Debit0 $Cred

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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