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 $13,750 cash and $59, 125 of photography equipment in the company. August 2 The company paid $2,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,613 cash. August 20 The company received $3,700 cash from taking photos for customers. August 31 The company paid $882 cash for August utilities. Prepare general journal entries for the above transactions.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
Date
General Journal
Debit
Credit
August 01
Record entry
Clear entry
View genera
Transcribed Image Text:Date General Journal Debit Credit August 01 Record entry Clear entry View genera
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 $13,750 cash and
$59,125 of photography equipment in the
company.
August 2 The company paid $2,200 cash for an insurance
policy covering the next 24 months.
August 5 The company purchased supplies for $2,613 cash.
August 20 The company received $3,700 cash from taking
photos for customers.
August 31 The company paid $882 cash for August
utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1
2
3
4
M. Harris, the owner, invested $13,750 cash and $59,125 of photography
equipment in the company.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
August 01
Record entry
Clear entry
View genera
Transcribed Image Text: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 $13,750 cash and $59,125 of photography equipment in the company. August 2 The company paid $2,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,613 cash. August 20 The company received $3,700 cash from taking photos for customers. August 31 The company paid $882 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 3 4 M. Harris, the owner, invested $13,750 cash and $59,125 of photography equipment in the company. Note: Enter debits before credits. Date General Journal Debit Credit August 01 Record entry Clear entry View genera
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education