Use the information in Exercise 2-9 to open the following T-accounts:

Cash; Supplies; Prepaid Insurance; Equipment; Common Stock;

Services Revenue; and Utilities Expense. 

(1) Post the general journal entries to these T-accounts (which will serve as the ledger). 

(2) Prepare the August 31 trial balance.

Data from Exercise 2-9

Prepare general journal entries for the following transactions of a new company called Pose-for-Pics. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; Common Stock; Services Revenue; and Utilities Expense. 

Transcribed Image Text:

Aug. 1 2 LO 5 20 31 M. Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. The company paid $2,100 cash for an insurance policy covering the next 24 months. The company purchased supplies for $880 cash. The company received $3,331 cash from taking photos for customers. The company paid $675 cash for August utilities.