Preparing Journal Entries and Trial Balances Dan McNulty ACC/225 5/4/12 David Stretton

2-4. Pose for Pics General Journal Date 1-Aug Cash Photography Equipment Hashim Parris, Capital -Owners Initial Investment 1-Aug Prepaid Insurance Cash -To record payment for insurance policy 5-Aug Office Supplies Cash -To record office supplies purchased 20-Aug Cash Photography Fees Earned -To record photography fees earned 31-Aug Utilities Expense $875 $2,650 $2,650 $1,400 $1,400 $3,000 $3,000 Description Debit $7,500 $32,500 $40,000 Credit

Cash -To record utilities expense paid

$875

2-5.

Pose for Pics T-Account Cash 7,500 3,000 1,400 2,650 875 Balance- 4,875 Office Supplies 1,400 Prepaid Insurance 3,000 Utilities Expense 875 Photography Fees Earned 2,650 H. Paris, Capital 40,000

Photography Equipment 32,500

Pose for Pics Trial Balance Aug, 31st Debit Cash Office Supplies Prepaid Insurance Photography Equipment Photography Fees Earned H. Paris, Capital Utilities Expense Totals 875 $42,650 $42,650 $4,875 1,400 3,000 32,500 $2,650 40,000 Credit