Required information Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo) [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 $27,950 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 $1,235 cash. August 20 The company received $2,300 cash from taking photos for customers. August 31 The company paid $866 cash for August utilities. Exercise 2-9 (Algo) Preparing general journal entries LO A1 Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 3 4 5 M. Harris, the owner, invested $6,500 cash and $27,950 of photography equipment in the company in exchange for common stock. Note: Enter debits before credits. Date August 01 Record entry General Journal Clear entry Debit Credit View general journal
Required information Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo) [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 $27,950 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 $1,235 cash. August 20 The company received $2,300 cash from taking photos for customers. August 31 The company paid $866 cash for August utilities. Exercise 2-9 (Algo) Preparing general journal entries LO A1 Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 3 4 5 M. Harris, the owner, invested $6,500 cash and $27,950 of photography equipment in the company in exchange for common stock. Note: Enter debits before credits. Date August 01 Record entry General Journal Clear entry Debit Credit View general journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Munabhai
![!
Required information
Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo)
[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 $27,950 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 $1,235 cash.
August 20 The company received $2,300 cash from taking photos for customers.
August 31 The company paid $866 cash for August utilities.
Exercise 2-9 (Algo) Preparing general journal entries LO A1
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1 2 3 4 5
M. Harris, the owner, invested $6,500 cash and $27,950 of photography
equipment in the company in exchange for common stock.
Note: Enter debits before credits.
Date
August 01
Record entry
General Journal
Clear entry
Debit
Credit
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b93d892-e081-4cc9-866f-cef0064b5ec5%2F57840e28-5642-4052-8785-5936f61bcac0%2Fksqd6zr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo)
[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 $27,950 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 $1,235 cash.
August 20 The company received $2,300 cash from taking photos for customers.
August 31 The company paid $866 cash for August utilities.
Exercise 2-9 (Algo) Preparing general journal entries LO A1
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1 2 3 4 5
M. Harris, the owner, invested $6,500 cash and $27,950 of photography
equipment in the company in exchange for common stock.
Note: Enter debits before credits.
Date
August 01
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education