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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.
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:
Problem 1. Post the transactions to the T-accounts.
Problem 2. Use the amounts from the T-accounts in Requirement (1) to prepare a August 31 trial balance for Pose-for-Pics.
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