new Connect Following are the transactions of a new company called Pose-for-Pics

Question

new Connect Following are the transactions of a new company called Pose-for-Pics Aug, 1 Madison Harris, the ovner, invested $7,000 cash and $34,000 of photography equipment in the conpany 2 The company paid $2,600 cash for an insurance policy covering the next 24 elook 5 The company purchased otfice supplies for $930 cash. 20 The company received $3,831 eash in photography tees earned 31 The eompany paid $725 cash tor Noguost utilities. Required 1 Post the transactions to the T-accounts 2 Use the amounts from the T-accounts in equirement t to prepare an August 31 trial balance for Pose-for-Pics Complete this question by entering your answers in the tabs below Required Requ Post the transactions to the T-accounts

Explanation / Answer

Please note all values are in $.

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Cash Balance B/d 0 insurnace policy 2600 capital a/c 7000 office supplies 930 photography fees 3831 utilities 725 Balance 6576 10831 10831 Prepaid Insurnace cash 2600 Balance 2600 2600 2600 M. harris Capital Balance 41000 by cash 7000 by photography equipment 34000 41000 41000 Utilities expenses cash 725 Balance 725 725 725

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