Question

.. 1,2,3 Seved Seved Help Save & Exit Submk Required information [The following information applies to the questions displayed below.) Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $8,100 cash and $35,100 of photography equipment in the company in exchange for common stock. 2 The company paid $3,700 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,040 cash. 20 The company received $4,931 cash in photography fees earned. 31 The company paid $835 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 Office Supplies < Prev 43 of 63 Next > 50 ? &WX? 29 GEE

Answer 1

Credit Pose-For-Pics Journal entries Date Account 1-Aug Cash Equipment Common Stock Debit $ 8,100 $ 35,100 $ 43,200 $ 3,700 2-Aug Prepaid Insurance Cash $ 3,700 $ 1,040 5-Aug Office Supplies Cash $ 1,040 $ 4,931 20-Aug Cash Fees Earned $ 4,931 $ 835 31-Aug Utilities expense Cash $ 835

Credit Credit Credit Pose-For-Pics T Accounts Date Debit Date Credit Cash 1-Aug $ 8,100 2-Aug $ 3,700 20-Aug $ 4,931 5-Aug $ 1,040 31-Aug $ 835 Date Debit Date Office Supplies 5-Aug $ 1,040 Date Debit Date Prepaid Insurance 2-Aug $ 3,700 Date Debit Date Equipment 1-Aug $ 35,100 Bal. Bal. Bal. $ 35,100 $ 7,456 Common Stock 1-Aug $ 43,200 $ 1,040 Bal. $ 3,700 Fees Earned Utilities expense 20-Aug $ 4,93131-Aug $ 835 Bal. $ 43,200 Bal. $ 4,931 Bal. $ 835

Unadjusted TB Debit Credit 7,456 Pose-For-Pics Account Names Cash Office Supplies Prepaid Insurance Equipment Common Stock Fees Earned Utilities expense Totals 1,040 3,700 35,100 43,200 4,931 835 48,131 48,131