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! Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,663 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $876 cash for August utilities. Prepare general journal entries for the above transactions.

! Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,663 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $876 cash for August utilities. Prepare general journal entries for the above transactions.

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter1: Business Transactions (ptrans)
Section: Chapter Questions
Problem 4R: On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had...
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! Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,663 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $876 cash for August utilities. Prepare general journal entries for the above transactions. *********
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,663 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $876 cash for August utilities. Prepare general journal entries for the above transactions. *********
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