Following are the transactions of a new company called Pose-for-Pics Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased supplies for $880 cash. 20 The company received \$3,331 cash from taking photos for customers. 31 The company paid $675 cash for August utilities. 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 StockServices Revenue; and Utilities Expense.

Required information [The following information applies to the questions displayed below) Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,5ee of photography equipment in the company in exchange for common stock. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased supplies for $888 cash. 20 The company received $3,331 cash from taking photos for customers. 31 The company paid $675 cash for August utilities. 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. + Date Assets Liabilities Aug 1 Cash Equipment Aug. 2 Cash Prepaid insurance Aug. 5 Cash Aug 20 Cash Aug 31 Cash displayed below) illed Pose-for-Pics .589 cash and $33,500 of photography equipment in the surance policy covering the next 24 months. cash. taking photos for customers. utilities the accounting equation-specifically, Identify the accounts and amounts artial chart of accounts: Cash: Supplies; Prepaid Insurance: Equipment: Equity Liabilities