Following Are The Transactions Of A New Company Called Pose For Pics Aug 1 Madison Harris The Owner Invested 7 700 1 (85.26 KiB) Viewed 73 times
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,700 cash and $34,700 of photography equipment in the company in exchange for common stock. 2 The company paid $3,300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,000 cash. 20 The company received $4,531 cash in photography fees earned. 31 The company paid $795 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.
Post the transactions to the T-accounts. Cash Balance Prepaid Insurance Balance Common Stock Balance Utilities Expense Balance Balance Balance Office Supplies Photography Equipment Photography Fees Earned
Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. POSE-FOR-PICS Trial Balance August 31 Credit Cash Office supplies Prepaid insurance Photography equipment Common stock Photography fees earned Utilities expense Totals Debit
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