Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of…
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Question “Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of…”
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics Aug 1 Madi son Harris, the owner, snwested 56,99 cash and 33,800 of photography equigment in the company in exchange f stock 2 The company paid $2,400 cash for an insurance policy covering the next 24 months S The company purchased office supplies for $918 cash. 20 The conpany received $3,631 cash in photography fees earned 31 The company paid $705 cash for August utilitles. Required: 1. Post the transactions to the T-accounts 2. Use the amounts from the T-accounts in Requirement () 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 Post the transactions to the T-accounts. Balance Balance Balance Balance 1 of 4E Next acer
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Aug. 1 Madison Harris, the ouner, invested $6,868 cash and $33, 809 of photography equi stock. 2 The company paid $2,400 cash for an insurance policy covering the next 24 month 5 The company purchased office supplies for $910 cash. 20 The company received $3,631 cash in photography fees earned. 1 The company paid $795 cash for August utilities. ts 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 ba Complete this question by entering your answers in the tabs below eBook | Required 1 Required 2 Hint Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balane POSE-FOR PICS Trial Balance August 31 Print eferences Debit Credit Cash Office supplies Prepaid insurance Photography equipment Common stock Photography fees earned Utilities expense Totals KRequired 1
Answer
Answer 1:
T Accounts with entries posted:
![Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of...](https://drive.google.com/uc?id=1JuiwjOM-X8kZ44-QaA_uh5jRNCbs_LRL&export=download/Exercise-2-8-Preparing-T-accounts-(ledger)-and-a-trial-balance-LO-P2-Following-are-the-transactions-of.png?x-oss-process=image/resize,w_560/format,webp)
Answer 2:
Trail Balance:
![Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of...](https://drive.google.com/uc?id=1BeNNB0h7-DeAjFsqbaW-QAPdv056KJ6q&export=download/Exercise-2-8-Preparing-T-accounts-(ledger)-and-a-trial-balance-LO-P2-Following-are-the-transactions-of.png?x-oss-process=image/resize,w_560/format,webp)
Conclusion
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