Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner,...

 

Transcribed Image Text:

Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company. August 2 The company paid $3,200 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 $2,700 cash from taking photos for customers. August 31 The company paid $875 cash for August utilities. Required: 1. Post the above 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to the T-accounts. Cash Supplies Ending Balance Ending Balance 0 Prepaid Insurance Equipment Ending Balance 0 Ending Balance Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company. August 2 The company paid $3,200 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 $2,700 cash from taking photos for customers. August 31 The company paid $875 cash for August utilities. Required: 1. Post the above 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to the T-accounts. Cash Supplies Ending Balance Ending Balance 0 Prepaid Insurance Equipment Ending Balance 0 Ending Balance