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Post the transactions to T-accounts

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Question - Preparing T-accounts (ledger) and a trial balance

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

Aug. 1 Madison Harris, the owner, invested $6,750 cash and $29,025 of photography equipment in the company in exchange for common stock.

Aug. 2 The company paid $2,900 cash for an insurance policy covering the next 24 months.

Aug. 5 The company purchased supplies for $1,283 cash.

Aug. 20 The company received $3,800 cash from taking photos for customers.

Aug. 31 The company paid $874 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 prepar August 31 trial balance for Pose-for-Pics.

Reference no: EM132624058

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