Prepare general journal entries for the given transactions

Reference no: EM131528082

Question: Use the information in Exercise to prepare an August 31 trial balance for Pose for Pics. Begin by opening these T-accounts: Cash; Office Supplies; Prepaid Insurance; Photography Equipment; K. Madison, Capital; Photography Fees Earned; and Utilities Expense. Then, post the general journal entries to these T-accounts (which will serve as the ledger), and prepare the trial balance.

Exercise: Prepare general journal entries for the following transactions of a new company called Pose for Pics. Aug. 1 Kasey Madison, the owner, invested $7,500 cash and $32,500 of photography equipment in the company. 2 The company paid $3,000 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,400 cash. 20 The company received $2,650 cash in photography fees earned. 31 The company paid $875 cash for August utilities.

Reference no: EM131528082

Questions Cloud

Discuss the general journal entries : Prepare general journal entries for the following transactions of a new company called Pose for Pics. Aug. 1 Kasey Madison, the owner, invested $7,500 cash.

Company commercial by clicking on the link : Choose one of the companies below and view the company's commercial by clicking on the link.

Technology and legal research : Identify at least two (2) commonly used law office technologies. Next, explain the main reasons why computer skills.

Define restorative justice : Define restorative justice, and provide an example of a restorative justice theory in use by identifying a public or private program.

Prepare general journal entries for the given transactions : Use the information in Exercise to prepare an August 31 trial balance for Pose for Pics. Begin by opening these T-accounts: Cash; Office Supplies.

Explored the role of the healthcare manager : In Week 1, you explored the role of the healthcare manager within a health system. This week, you will explore the functions of planning, decision making

What inner qualities did americans demonstrate : What inner qualities did Americans demonstrate in thier fight for independence from Great Britain?

The differences between self and traditional poloicing : Compare and contrast self- policing efforts with traditional policing efforts.In your opinion which model is better? Explain why.

Assessed for the year be given the go ahead : Should any project being assessed for the year be given the go ahead when it's competitive advantage is low but there is a cost savings benefit?

User Account

All Pages