Ch. 2 Assignment 3 Required information Saved 1.78 Use the following information for Exercise 2-9 through Exercise 2-12 below. (Static) points [The following information applies to the questions displayed below.] eBook Print Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company. August 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $880 cash. August 20 The company received $3,331 cash from taking photos for customers. August 31 The company paid $675 cash for August utilities. References Exercise 2-11 (Static) Analyzing transactions using accounting equation LO A1 Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts including + or -) for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; M. Harris, Capital; Services Revenue; and Utilities Expense. Date Assets August 1 Cash (+) increase August 1 Equipment (+) increase 6,500 = 33,500 = August 2 Cash (-) decrease 2,100 = August 2 = August 5 = August 5 = August 20 = August 31 Liabilities Equity + M. Harris, Capital 40,000 + + + + + + +