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Following are the transactions of a new company called Pose-for-Pics. Aug. 1Madison Harris, the owner, invested $6,500 cash and $33,s00 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 $675 cash for August utilities. Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the transactions to the T-accounts. Cash Office Supplies Balance Balance Photography Equipment Prepaid Insurance K Prey 9 of 12l Next > o search
Balance Balance Balance Balance Balance Required 2>
Required 1 Required 2 Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics POSE-FOR-PICS Trial Balance August 31 Debit Credit Cash Office supplies Prepaid insurance Photography equipment M. Harris, Capital Photography fees earned Utlities expense Totals Required 1
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1- T- Accounts of Pose-for-PicsCash Office Supplies Dr. Date Cr Dr Date Particulars Date Particulars Particulars Amt$ Date Particulars Amt Aug-01 M. Harris, Capital6,500.00 Aug-02 Prepaid Insurance 2,100.00 880.00 675.00 6,176.00 Aug-05 Cash 880.00 Aug-20 Photography Fes3,331.00 Aug-05 Office Supplies Aug-31 Balance c/f880.00 Aug-31 Utilities Aug-31 Balance c/f earned 880.00 880.00 Photography Equipment Dr Date Particulars Amt $Date Particulars Amt Prepaid Insurance Dr Aug.01 M. Harris,33,500.00 Particulars Amt$ Dat Particulars Amt $ Capital Aug-02 Cash 2,100.00Aug-02 Insurance Expense xxxx Aug-31 Balance c/f 33,500.00 33,500.00 Note-1) 33,500.00 Aug-31 Balance c/f 2,100.00 2,100.00 Dr Photography Fees Earned 2,100.00 Cr. Date Particulars Amt S Date Particulars Amt Note : As we are not aware of what portion of prepaid insurance relates to Aug-20 Cash 3,331.00 Aug-31 Balance c 3,331.00 3,331.00 current year we can not post it to current year expenses. 3,331.00 M. Harris, Capital Utilities Dr Date Cr Particulars Date Particulars Dr Cr. Particulars Amt$ Particulars Amt Aug-01 Cash Aug-01 Photography 6,500.00Date 33,500.00 Date Aug-31 Cash 675.00 Equipment Aug-31 Balance c/f Aug-31 Balance c/f 40,000.00 40,000.00 675.00 675.00 40,000.00 675.00

2- Trial balance as on 31st Aug of Pose-For Pics

Pose For Pics Trial Balance For the Period Ending on 31st Aug (Amt. S) (Amt. $) Debit Particulars Cash Office Supplies Prepaid Insurance Photography Equipment M. Harris, Capital Photograhy Fees Earned Utilities Credit 6,176.00 880.00 2,100.00 33,500.00 40,000.00 3,331.00 675.00 Total 43,331.00 43,331.00

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