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Required information [ The following information applies to the questions displayed below. ] Following are the transactions of a new company called Pose - for

Required information
[The following information applies to the questions displayed below.]
Following are the transactions of a new company called Pose-for-Pics.
August 1 M. Harris, the owner, invested $14,750 cash and $63,425 of photography equipment in the company in exchange for common stock.
August 2 The company paid $3,500 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $2,803 cash.
August 20 The company received $2,550 cash from taking photos for customers.
August 31 The company paid $870 cash for August utilities.
nalyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts ncluding + or -) for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; fommon Stock; Services Revenue; and Utilities Expense.
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