Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help Following are the transactions of a new company called Pose-for-Pics August 1 H. Harris, the owner, invested $6,500 cash and $33,500 of photography

please help
image text in transcribed
image text in transcribed
Following are the transactions of a new company called Pose-for-Pics August 1 H. Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $180 cash. August 20 The company received $3,331 cash from taking photos for customers. August 31 The company paid $675 Cash for August utilities ak Required: 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 1 Complete this question by entering your answers in the tabs below. mt Required 1 Required 2 ances Post the transactions to the T-accounts. Supplies August 1 Cash 6,509 August 1 33,500 Balance 27,000 Balance Prepaid Insurance Equipment Balance Balance Common Stock Services Revenue Balance Balance Following are the transactions of a new company called Pose-for-Pics. August 1, Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. August The company paid $2,100 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $800 cash. August 20 The company received $3,331 cash from taking photos for customers. August 31 The company paid $675 cash for August utilities 56 its eBook Required: 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 Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 .. References Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-pics. POSE FOR PICS Trial Balance August 31 Debit Credit Cash Supplies Prepaid Insurance Equipment Common stock Services revenue Utilities expense Totals 05

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_2

Step: 3

blur-text-image_3

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

College Accounting A Practical Approach Chapters 1-25

Authors: Jeffrey Slater, Mike Deschamps

15th Edition

0137504284, 9780137504282

More Books

Students also viewed these Accounting questions

Question

analyze

Answered: 1 week ago