Business, 21.12.2019 03:31 questions61

Following are the transactions of a new company called pose-for-pics. aug. 1 madison harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock.2 the company paid $2,100 cash for an insurance policy covering the next 24 months.5 the company purchased office supplies for $880 cash.20 the company received $3,331 cash in photography fees earned.31 the company paid $675 cash for august utilities. prepare an august 31 trial balance for pose-for-pics. a. debit creditb. cashc. officesd. prepaid insurancee. photography equipmentf. common stockg. photography fees earnedh. utilities expensei. totals

Answers: 3

Show answers

Answers

Answer from: whitakers87

Answer and Explanation:

Journal Entries:

Cash 6500

Photography equipment 33500

Capital 40000

Prepaid Insurance 2100

Cash 2100

Office Supplies 880

Cash 880

Cash 3331

Revenue 3331

Utilities Expense 675

Cash 675

Cash account = 6500 - 2100 - 880 + 3331 - 675 = 6176

POSE-FOR-PIC

Trial Balance

Debit Credit

Cash 6176

Prepaid Insurance 2100

Supplies 880

Revenue 3331

Utilities Expense 675

Capital 40000

Photography Equipment 33500

Total 43331 43331

Answer from: Quest

Iwould want a good job, home, and city/state. the reason being is i want to have a nice life and stay healthy. i want to get a good salary!

Answer from: Quest

Government ownership and control of resources

Another question on Business

Business, 21.06.2019 13:00

Does a pipe fitter need to go to college

Answers: 1

Answer

Business, 22.06.2019 08:30

In risk management, what does risk control include? a. risk identification b. risk analysis c. risk prioritization d. risk management planning e. risk elimination need this answer now : (

Answers: 3

Answer

Business, 22.06.2019 12:30

Rossdale co. stock currently sells for $68.91 per share and has a beta of 0.88. the market risk premium is 7.10 percent and the risk-free rate is 2.91 percent annually. the company just paid a dividend of $3.57 per share, which it has pledged to increase at an annual rate of 3.25 percent indefinitely. what is your best estimate of the company's cost of equity?

Answers: 1

Answer

Business, 22.06.2019 13:20

Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?

Answers: 2

Answer

You know the right answer?

Following are the transactions of a new company called pose-for-pics. aug. 1 madison harris, the own...

Questions