Question

Following are the transactions of a new company called Pose-for-Pics.Aug. 1 Madison Harris, the owner, invested $6,250 cash and $26,875 of photography equipment in the company in exchange for common stock. 2 The company paid $2,900 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,188 cash. 20 The company received $2,550 cash in photography fees earned. 31 The company paid $884 cash for August utilities.

Prepare an August 31 trial balance for Pose-for-Pics.

Answer 1

Answer:

Find attached trial balance as well the general ledgers prepared extracting trial balance

Explanation:

Preparation of trial balance  could not be carried out straightaway , I had to first of all prepare the relevant ledgers before extracting trial balance.