Aug. 1 Madison Harris, the owner, invested $8,000 cash and $34,400 of photography equipment in the...
| Aug. | 1 | Madison Harris, the owner, invested $8,000 cash and $34,400 of photography equipment in the company in exchange for common stock. | ||
| 2 | The company paid $3,900 cash for an insurance policy covering the next 24 months. | |||
| 5 | The company purchased office supplies for $1,520 cash. | |||
| 20 | The company received $3,950 cash in photography fees earned. | |||
| 31 |
The company paid $876 cash for August utilities. |
Homework Answers
Required journal entries are:
| Date | Account titles | Debit | Credit |
| Aug 1 | Cash | $8000 | |
| Photography equipment | $34400 | ||
| Common stock | ($42800) | ||
| (for capital and equipment invested) | |||
| Aug 2 | Prepaid insurance | $3900 | |
| Cash | $3900 | ||
| (for insurance paid for 24 months) | |||
| Aug 5 | Office supplies | $1520 | |
| Cash | $1520 | ||
| (for office supplies purchased) | |||
| Aug 20 | Cash | $3950 | |
| Earned revenue or fees | $3950 | ||
| (for fees received) | |||
| Aug 31 | Utilities expense | $876 | |
| Cash | $876 | ||
| (for current month's utilities expense |
Add Answer to:
Aug.
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Madison Harris, the owner, invested $8,000 cash and $34,400 of
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Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner,...
Following are the transactions of a new company called
Pose-for-Pics.
Aug.
1
Madison Harris, the owner, invested $8,250 cash and $35,475 of
photography equipment in the company in exchange for common
stock.
2
The company paid $3,200 cash for an insurance policy covering
the next 24 months.
5
The company purchased office supplies for $1,568 cash.
20
The company received $3,300 cash in photography fees earned.
31
The company paid $870 cash for August utilities.
Prepare general journal entries for...
Aug. 1 Madison Harris, the owner, invested $7,500 cash and $34,500 of...
Aug. 1
Madison Harris, the owner, invested $7,500 cash
and $34,500 of photography equipment in the company in exchange for
common stock.
2
The company paid $3,100 cash for an insurance policy covering the
next 24 months.
5
The company purchased office supplies for $980 cash.
20
The company received $4,331 cash in photography fees earned.
31
The company paid...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner,...
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Following are the transactions of a new company called Pose-for-Pics. Aug 1 Madison Harris, the owner, invested $5,000 cash and $21,500 of photography equipment in the company in exchange for common stock. 2 The company paid $3,500 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $950 cash. 20 The company received $3,550 cash in photography fees earned. 31 The company paid $875 cash for August utilities. Prepare general journal entries for...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner,...
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Aug. 1 Madison Harris, the owner, invested $7,100 cash and $34, 100 of photography equipment in...
Aug. 1 Madison Harris, the owner, invested $7,100 cash and $34, 100 of photography equipment in the company in exchange for common stock. 2 The company paid $2,700 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $940 cash. 20 The company received $3,931 cash in photography fees earned. 31 The company paid $735 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner,...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,400 cash and $34,400 of photography equipment in the company in exchange for common stock. 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $970 cash. 20 The company received $4,231 cash in photography fees earned. 31 The company paid $765 cash for August utilities. Required: 1. Post the transactions...
Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months 5 The company purchased office supplies for $880 cash. 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 cash for August utilities Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 3 4 Madison Harris, the owner,...
1 Madison Harris, the owner, invested $12,500 cash and $53,750 of photography equipment in the company. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 3 The company purchased office supplies for $2,375 cash. 4 The company received $3,500 cash in photography fees earned. 5 The company paid $870 cash for August utilities. Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $12,500 cash and $53,...
Help Aug. 1 Madison Harris, the owner, invested $6,800 cash and $33,800 of photography equipment in the company in exchange for common stock. 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $910 cash. 20 The company received $3,631 cash in photography fees earned 31 The company paid $705 cash for August utilities. Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the...
Following are the transactions of a new company called
Pose-for-Pics.
Aug.
1
Madison Harris, the owner, invested $8,250 cash and $35,475 of
photography equipment in the company in exchange for common
stock.
2
The company paid $3,200 cash for an insurance policy covering
the next 24 months.
5
The company purchased office supplies for $1,568 cash.
20
The company received $3,300 cash in photography fees earned.
31
The company paid $870 cash for August utilities.
Prepare general journal entries for...
Aug. 1
Madison Harris, the owner, invested $7,500 cash
and $34,500 of photography equipment in the company in exchange for
common stock.
2
The company paid $3,100 cash for an insurance policy covering the
next 24 months.
5
The company purchased office supplies for $980 cash.
20
The company received $4,331 cash in photography fees earned.
31
The company paid...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $9,750 cash and $41,925 of photography equipment in the company in exchange for common stock. 2 The company paid $2,300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,853 cash. 20 The company received $2,150 cash in photography fees earned. 31 The company paid $878 cash for August utilities. Prepare general journal entries for...
Following are the transactions of a new company called Pose-for-Pics. Aug 1 Madison Harris, the owner, invested $5,000 cash and $21,500 of photography equipment in the company in exchange for common stock. 2 The company paid $3,500 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $950 cash. 20 The company received $3,550 cash in photography fees earned. 31 The company paid $875 cash for August utilities. Prepare general journal entries for...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $13,500 cash and $58,050 of photography equipment in the company. 2 The company paid $2,500 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,565 cash. 20 The company received $2,300 cash in photography fees earned. 31 The company paid $867 cash for August utilities. Prepare general journal entries for the above transactions. View transaction...
Aug. 1 Madison Harris, the owner, invested $7,100 cash and $34, 100 of photography equipment in the company in exchange for common stock. 2 The company paid $2,700 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $940 cash. 20 The company received $3,931 cash in photography fees earned. 31 The company paid $735 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,400 cash and $34,400 of photography equipment in the company in exchange for common stock. 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $970 cash. 20 The company received $4,231 cash in photography fees earned. 31 The company paid $765 cash for August utilities. Required: 1. Post the transactions...
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