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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-Pics. August 1 Madison Harris,
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 Madison Harris, the owner, invested $8,000 cash and $34,400 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,600 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,520 cash. August 20 The company received $2,300 cash from taking photos for customers. August 31 The company paid $873 cash for August utilities. 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. Complete this question by entering your answers in the tabs below
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