Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $13,250 cash and $56,975 of photography equipment in

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $13,250 cash and $56,975 of photography equipment in the company. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,518 cash. 20 The company received $2,650 cash in photography fees earned. 31 The company paid $882 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet Madison Harris, the owner, invested $13,250 cash and $56,975 of photography equipment in the company. Note: Enter debits before credits. Date General Journal Debit Credit Aug 01 Cash Photography equipment M. Harris, Capital 13,250 56,975 70,225 Record entry Clear entry View general journal Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $13,250 cash and $56,975 of photography equipment in the company. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,518 cash. 20 The company received $2,650 cash in photography fees earned. 31 The company paid $882 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

16th Edition

324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140

More Books

Students also viewed these Accounting questions

Question

I was partially responsible.

Answered: 1 week ago