60.1K

Verified Solution

Link Copied!

stock. Following are the transactions of a new company called Pose-for-Pics. 1 Madison Harris, the omer, invested $7.700 cash and $34.700 of photography equipnent in the company in exchange for connon 2 The company paid $3.300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1.000 cash. 20 The company received $4,531 cash in photography fees earned. 31 The company paid $795 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 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 Common stock Photography fees earned Utilities expense Totals 0 $ $ Required 1 Required 2 Post the transactions to the T-accounts. Cash Office Supplies Balance Aug. 1 Aug. 2 Aug. 5 Aug. 20 Prepaid Insurance Photography Equipment Balance Balance Common Stock Photography Fees Earned Balance Balance Utilities Expense Balance 0 Required 1 Required 2 Post the transactions to the T-accounts. Cash Office Supplies Balance Balance Prepaid Aug. 1 Aug. 2 Aug. 5 Aug. 20 Photography Equipment Balance 0 Balance Common Stock Photography Fees Earned Balance Balance Utilities Expense Balance

Answer & Explanation Solved by verified expert

See Answer