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

Following are the transactions of a new company called Pose-for-Pics.

August 1 M. Harris, the owner, invested $11,500 cash and $49,450 of photography equipment in the company in exchange for common stock.

August 2 The company paid $3,200 cash for an insurance policy covering the next 24 months.

August 5 The company purchased supplies for $2,185 cash.

August 20 The company received $3,450 cash from taking photos for customers.

August 31 The company paid $872 cash for August utilities.

Required:

Post the transactions to the T-accounts.

Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics.


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TAccounts for PoseforPics August Cash Date Description Debit Credit Balance Aug 1 Investment 11500 1... blur-text-image

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