Required information

Use the following information for Exercise $2-9$ through Exercise $2-12$ below. $($Algo$)$

$[$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 $$7,250$ cash and $$31,175$ of photography equipment in the company in exchange for common stock.

August $2$ The company paid $$3,400$ cash for an insurance policy covering the next $24$ months.

August $5$ The company purchased supplies for $$1,378$ cash.

August $20$ The company received $$2,500$ cash from taking photos for customers.

August $31$ The company paid $$869$ cash for August utilities.

rercise $2-11($Algo$)$ Analyzing transactions using accounting equation LO A$1$

alyze each transaction above by showing its effects on the accounting equation$-$specifically, identify the accounts and amounts cluding $+$ or $-)$ for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; $$mmon Stock; Services Revenue; and Utilities Expense.