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

Aug.1Madison Harris, the owner, invested $6,750 cash and $29,025 of photography equipment in the company in exchange for common stock.2The company paid $2,900 cash for an insurance policy covering the next 24 months.5The company purchased supplies for $1,283 cash.20The company received $3,800 cash from taking photos for customers.31The company paid $874 cash for August utilities.

Exercise 2-12 (Algo) Preparing T-accounts (ledger) and a trial balance LO P1

Required:

1.Post the transactions to the T-accounts.

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

cash

supplies

prepaid insuarance

equipment

common stock

service revenue

utilities expenses

totals