[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 < 1 2 Date August 01 3 Note: Enter debits before credits. Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company in exchange for common stock. Cash 4 5 General Journal Debit Credit >
[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 < 1 2 Date August 01 3 Note: Enter debits before credits. Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company in exchange for common stock. Cash 4 5 General Journal Debit Credit >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![[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
<
1
2
Date
August 01
3
Note: Enter debits before credits.
Madison Harris, the owner, invested $10,750 cash and $46,225 of
photography equipment in the company in exchange for common stock.
Cash
4
5
General Journal
Debit
Credit
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb36da9a7-7a55-402b-9590-13e22f66d9b3%2Fd3106ba2-c5e8-489f-8ffd-35d43dd3c437%2Fxogc6uc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[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
<
1
2
Date
August 01
3
Note: Enter debits before credits.
Madison Harris, the owner, invested $10,750 cash and $46,225 of
photography equipment in the company in exchange for common stock.
Cash
4
5
General Journal
Debit
Credit
>
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