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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.
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 $6,250 cash and $26,875 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,300 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,188 cash. August 20 The company received $2,450 cash from taking photos for customers. August 31 The company paid $880 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. August 1 Balance Cash Prepaid Insurance Balance 0 Balance Common Stock 0 Utilities Expense Balance 0 Supplies August 5 Balance 0 Balance Equipment 0 Services Revenue Balance 0 Required 4 Required 2 >
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