Analyze each transaction in Exercise 2-9 by showing its effects on the accounting equationspecifically, identify the accounts
Question:
Analyze each transaction in Exercise 2-9 by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or −) for each transaction.
Data from Exercise 2-9
Prepare general journal entries for the following transactions of a new company called Pose-for-Pics. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; Common Stock; Services Revenue; and Utilities Expense.
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