Required information [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 $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $880 cash. August 20 The company received $3,331 cash from taking photos for customers. August 31 The company paid $675 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.
Required information [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 $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $880 cash. August 20 The company received $3,331 cash from taking photos for customers. August 31 The company paid $675 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[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 $6,500 cash and $33,500 of photography equipment in the company in
exchange for common stock.
August 2 The company paid $2,100 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $880 cash.
August 20 The company received $3,331 cash from taking photos for customers.
August 31 The company paid $675 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.
X Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics.
POSE-FOR-PICS
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Transcribed Image Text:Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate com
Required information
[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 $6,500 cash and $33,500 of photography equipment in the company in
exchange for common stock.
August 2 The company paid $2,100 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $880 cash.
August 20 The company received $3,331 cash from taking photos for customers.
August 31 The company paid $675 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.
X Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics.
POSE-FOR-PICS
< Prev
1 of 7
Next >
MacBook Air
DII
DD
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#
$
&
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8.
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Transcribed Image Text:MQuestion -HOMEWORKR CHAPTER 2- Cônnect
C1 Post The Journal E
RK CHAPTER 2
Saved
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does nc
Required information
Cash
Supplies
August 1
6,500 O
August 5
880
August 20
3,331 O August 31
675 O
Balance
9,156
Balance
880
Prepaid Insurance
Equipment
August 2
2,100
August 1
33.500 O
Balance
2,100
Balance
33,500
Common Stock
Services Revenue
Balance
Balance
Utilities Expense
August 31
675 O
Balance
675
Mc
Graw
Hill
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