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 Madison Harris, the owner, invested $6,see cash and $33,509 of photog company paid $2,100 cash for an insurance policy covering the next 24 month:s s The company purchased office supplies for $888 cash. 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 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 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 Cash ies Balance

For different accounts, debits and credits may translate to increases or decreases, but the debit side must always lie to the left of the T outline and the credit entries must be recorded on the right side.

T-Accounts

Cash

Date Description Debit Credit

1-Aug M Harris, Capital $6,500

2-Aug Prepaid Insurance $2,100

5-Aug Office Supplies $880

20-Aug Fees Earned $3,331

31-Aug Utilities Expense $675

31-Aug Balance $6,176

Total $9,831 $9,831

Office Supplies

Date Description Debit Credit

5-Aug Cash $880

31-Aug Balance $880

Total $880 $880

Prepaid Insurance

Date Description Debit Credit

2-Aug Cash $2,100

31-Aug Balance $2,100

Total $2,100 $2,100

Photography Equipment

Date Description Debit Credit

1-Aug M Harris, Capital $33,500

31-Aug Balance $33,500

Total $33,500 $33,500

M Harris, Capital

Date Description Debit Credit

1-Aug Cash $6,500

1-Aug Photography Equipment $33,500

31-Aug Balance $40,000

Total $40,000 $40,000

Utilities Expense

Date Description Debit Credit

31-Aug Cash $675

31-Aug Balance $675

Total $675 $675

Photography Fees Earned

Date Description Debit Credit

20-Aug Cash $3,331

31-Aug Balance $3,331

Total $3,331 $3,331

Trial Balance

Debit Credit

Cash $6,176

Office Supplies $880

Prepaid Insurance $2,100

Photography Equipment $33,500

M Harris, Capital $40,000

Photography Fees Earned $3,331

Utilities Expense $675

Totals $43,331 $43,331