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 $7,500 cash and $32,250 of photography equipment in the company. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Required: 1. Post the above 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 Post the above transactions to the T-accounts. Cash Supplies

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 $7,500 cash and $32,250 of photography equipment in the company. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Required: 1. Post the above 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 Post the above transactions to the T-accounts. Cash Supplies

Name: Required 1 Required 2Post the above transactions to the T-accounts.En
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Description: Required 1 Required 2Post the above transactions to the T-accounts.Ending BalanceEnding BalanceEnding BalanceCashPrepaid InsuranceM. Harris, CapitalUtilities ExpenseEnding BalanceEnding BalanceEnding BalanceSuppliesEquipmentServices Revenue Required

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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[The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,043 cash. August 20 The company received $3,750 cash from taking photos for customers. August 31 The company paid $873 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet
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