Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1M. Harris, the owner, invested $11,000 cash and $47,300 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,090 cash. August 20 The company received $3,400 cash from taking photos for customers. August 31 The company paid $875 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. A company had the following assets and liabilities at the beginning and end of this year. a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, and dividends paid were $6,000 during the year. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. d. Dividends paid were $6,000 during the year, and the owner did Invest an additional $35,000 cash near year-end in exchange for common stock Determine net income or net loss for the business during the year for each of the above separate cases. Note: Decreases in equity should be indicated with a minus sign. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Cash } \\ \hline 5 & & & & \\ \hline & & & & \\ \hline 7 & & & & \\ \hline Balance & & 0 & & \\ \hline \multicolumn{5}{|c|}{ Prepaid Insurance } \\ \hline & & & & \\ \hline & & & 7 & \\ \hline & & & & \\ \hline Balance & & 0 & & \\ \hline 9 & 3 & Sommo & Stock & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline & Supplies \\ \hline Balance & & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline & & \multicolumn{3}{|c|}{ Common Stock } & \\ \hline & & & \\ \hline & & & \\ \hline Balance & \multicolumn{2}{|c|}{} & \\ \hline & & & \\ \hline & \multicolumn{3}{|c|}{} \\ \hline & Utilities Expense & \\ \hline & & & \\ \hline & & & \\ \hline Balance & & & \\ \hline \end{tabular}