Solution:
Posting of entries in T shaped Account | |||||||||
Cash A/c | |||||||||
Particulars | $ | Particulars | $ | ||||||
To Common Stock | 7,400 | By Prepaid Insurance | 3,000 | ||||||
TO Photography Fees | 4,231 | By Office Supplies | 970 | ||||||
By Utilities Expense | 765 | ||||||||
By Balance c/d | 6,896 | ||||||||
11,631 | 11,631 | ||||||||
Prepaid Insurance | |||||||||
Particulars | $ | Particulars | $ | ||||||
To Cash | 3,000 | By Balance c/d | 3,000 | ||||||
3,000 | 3,000 | ||||||||
Common Stock | |||||||||
Particulars | $ | Particulars | $ | ||||||
By Cash | 7,400 | ||||||||
To Balance c/d | 41,800 | By Photography Equip. | 34,400 | ||||||
41,800 | 41,800 | ||||||||
Utilities Expense A/c | |||||||||
Particulars | $ | Particulars | $ | ||||||
To Cash | 765 | By Balance c/d | 765 | ||||||
2,500 | 2,500 | ||||||||
Office Supplies | |||||||||
Particulars | $ | Particulars | $ | ||||||
To Cash | 970 | By Balance c/d | 970 | ||||||
Photography Equipment | |||||||||
Particulars | $ | Particulars | $ | ||||||
To Common Stock | 34,400 | By Balance c/d | 34,400 | ||||||
34,400 | 34,400 | ||||||||
Photography Fees Earned | |||||||||
Particulars | $ | Particulars | $ | ||||||
To Balance c/d | 4,231 | To Cash | 4,231 | ||||||
4,231 | 4,231 |
POSE-FOR-PICS Trial Balance | |||||||
Accounts Name | Debit | Credit | |||||
Cash | 6,896 | ||||||
Prepaid Insurance | 3,000 | ||||||
Common Stock | 41,800 | ||||||
Utilities Expense A/c | 765 | ||||||
Office Supplies | 970 | ||||||
Photography Equipment | 34,400 | ||||||
Photography Fees Earned | 4,231 | ||||||
46,031 | 46031 |
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of...
Exercise 2.8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics Madison Harris, the owner, invested $6, see 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. The company purchased office supplies for 58se cash 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 cash for August utilities. Required:...
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics Aug 1 Madi son Harris, the owner, snwested 56,99 cash and 33,800 of photography equigment in the company in exchange f stock 2 The company paid $2,400 cash for an insurance policy covering the next 24 months S The company purchased office supplies for $918 cash. 20 The conpany received $3,631 cash in photography fees earned 31 The company...
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...
it says my answers were incomplete
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,200 cash and $34,200 of photography equipment in the company in exchange for cormon stock. 2 The company paid $2,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $950 cash. 20 The company received 14,031 cash in...
Help please god bless
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 Complete this question by entering your answers in the tabs below. 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. Credit POSE-FOR-PICS Trial Balance August 31 Debit Cash Office supplies Prepaid insurance Photography equipment Common stock Photography...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. 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...
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,900 cash and $34,900 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 $1,020 cash. 20 The company received $4,731 cash in photography fees earned. 31 The company paid $815 cash for August utilities. Required: 1. Post the transactions...
Credit POSE-FOR-PICS Trial Balance August 31 Debit Cash Office supplies Prepaid insurance Photography equipment M. Harris, Capital Photography fees earned Utilities expense Totals Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $8,200 cash and $35,200 of photography equipment in the company. 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,050 cash. 20 The company received $5,031 cash...
Following are the transactions of a new company called Pose-for-Pics. 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. Required: 1. Post the transactions...
Following are the transactions of a new company called Pose-for-Pics. Aug 1 Madison Harris, the owner, invested $7,300 cash and $34,300 of photography equipment in the company in exchange for common stock. 2 The company paid $2,900 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $960 cash. 20 The company received $4,131 cash in photography fees earned. 31 The company paid $755 cash for August utilities. Required: 1. Post the transactions...