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Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $9,250 cash and $39,775 of photography equipment in
Following are the transactions of a new company called Pose-for-Pics.
August 1 | M. Harris, the owner, invested $9,250 cash and $39,775 of photography equipment in the company in exchange for common stock. |
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August 2 | The company paid $3,300 cash for an insurance policy covering the next 24 months. |
August 5 | The company purchased supplies for $1,758 cash. |
August 20 | The company received $2,200 cash from taking photos for customers. |
August 31 | The company paid $884 cash for August utilities. 1. Post the transactions to the T-accounts. 2. 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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