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.


This is what you need to do the t-account
Prepare general journal entries for the following transactions of a new business called Pose for Pics.
Aug. 1 Hashim Paris, the owner, invested $7,500 cash and $32,500 of photography equipment in
the business.
1 Paid $3,000 cash for an insurance policy covering the next 24 months.
5 Purchased office supplies for $1,400 cash.
20 Received $2,650 cash in photography fees earned.
31 Paid $875 cash for August utilities.

Trial Balances

Cash 4,875
Equipment 32,500
PrePaid Insurance 3,000
Office Supplies 1,400
Utilities Expense 875
Owner's Equity 40,000
Photography Fees Earned 2,650

Your total Debits & Credits should equal 42,650.