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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 M. 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 M. Harris, the owner, invested $14,000 cash and $60,200 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,700 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,660 cash. August 20 The company received $2,150 cash from taking photos for customers. August 31 The company paid $866 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. Required 1 Required 2 Post the transactions to the T-accounts. Cash Supplies Post the transactions to the T-accounts. Cash Balance 0 Prepaid Insurance Balance + 0 Common Stock Balance 0 Utilities Expense Balance Supplies Equipment Balance Services Revenue Balance 0 Cash Supplies Prepaid insurance Equipment Common stock Services revenue POSE-FOR-PICS Trial Balance August 31 Debit Credit Utilities expense Totals $ EA 0 $ 0
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