Using the information provided in Exercise 2-2 and the analysis prepared in Exercise 2-3 complete the following:
1. Post the journal entries to the general ledger using T-accounts. Include the letter of each transaction next to your posting.
2. Calculate the balance in each T-account. 

3. Prove the accounting equation (Assets = Liabilities + Equity).

Exercise 2.2

Christina Reis is a photographer who owns Lola Lemon Photography. This is the first month of operations. The following are the transactions for the month of September. 

a. On September 1, Reis invested $15,000 cash into her new business. 

b. On September 12, purchased $2,000 of equipment (cameras) on credit. 

c. On September 13, purchased $500 of equipment (lighting), paying cash. 

d. On September 18, photographed an engagement session for $1,000; collected cash. 

e. On September 21, photographed a family session for $700 on credit. 

f. On September 26, paid $1,000 regarding (b). 

g. On September 29, collected $300 regarding (e).

Transcribed Image Text:

Cash 101 Accounts Receivable 106 Equipment 161 Accounts Payable Christina Reis, Capital 201 301 Revenue 403