3 3 of 4 03:55:48 ipped Book [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 $8,250 cash and $35,475 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,500 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,568 cash. August 20 The company received $2,400 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Exercise 2-11 (Algo) 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; Common Stock; Services Revenue; and Utilities Expense.

[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 88,250 cash and 35,475 of photography equipaent in the company in exchange for conton stock. August 2 The conpany paid 53,509 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,568 cash. August 20 the company received 32,400 cash from taking photos for customers. August is the company paid $868 cash for August utilities. Exercise 2-11 (Algo) 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: Common Stock; Services Revenue; and Utilities Expense