Question: How do you input the Assets, Liabilities, and Equity? Required information [The following information applies to the questions displayed below Following are the transactions of

 How do you input the Assets, Liabilities, and Equity? Required information

How do you input the Assets, Liabilities, and Equity?

Required information [The following information applies to the questions displayed below Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $6,750 cash and $29,025 of photography equipment in the company. August 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,283 cash. August 20 The company received $2,250 cash from taking photos for customers. August 31 The company paid $881 cash for August utilities. 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

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