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Preparing journal entries and trial balances




Pose for Pics;Preparing journal entries and trial balances;Exercise 2-4;Prepare general journal entries for the following transaction of a new business called Pose for Pics. (please use Excel);Aug. 1 -Hashim Paris, the owner, invested $7500 cash and $32500 of photography equipment in the business.;Aug. 1 -paid $3000 cash for an insurance policy covering the next 24 months.;aug 5- purchased office supplies for $1400 cash;aug 20- received $2650 cash in photography fees earned.;aug 31- paid $875 cash for August utilities.;Use the information in Exercise 2-4 to prepare an August 31 trial balance for Pose-for-Pics. Open these T-accounts: Cash, Office Supplies, Prepaid Insurance, Photography Equipment, H. Paris, Capital, Photography Fees Earned, and Utilities Expense. Post the general journal entries to these T-accounts (which will serve as the ledger), and prepare a trial balance. (Please use Excel)


Paper#27192 | Written in 18-Jul-2015

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