ABM B10: Business Finance

9:45:00 - 11:45AM THF

General Journey

Date Particular Folio Debit

Oct-01 Cash P 300,000
Adanza, Capital
Initial Investment
2 Rent Expense 1,200
Cash
Monthly rental
3 Equipment-Camera 220,000
Cash
Purchases-camera
4 Supplies 18,000
Accounts Payable
Purchases-Photos & Developing Supplies
5 Equipment-Camera 45,000
Accounts Payable
Purchase on account
6 Cash 25,000
Revenue
Services rendered
7 Computer Equipment 30,000
Adanza, Capital
Additional Investment-Computer
8 Adanza, Withdrawal 12,000
Cash
Withdrawal for personal use
9 Accounts Payable 30,000
Cash
Partial payment-B. Company
10 Accounts receivable 12,000
Revenue
Wedding pictures-rendered services
11 Salary Expense 6,000
Cash
Payment for salary
12 Supplies Expense 4,000
Supplies
Supplies used
 Credit

P 300,000

1,200

220,000

18,000

45,000

25,000

30,000

12,000

30,000

12,000

6,000

4,000
 A Adanza Photo Arts
Trial Balance
October 31,XXX

Account Number Account Title Debit Credit

Cash P55,800
Accounts Receivable 12,000
Supplies 14,000
Equipment 295,000
Accounts Payable P33,000
A.Capital 330,000
A.Drawing 12,000
Revenue 37,000
Rent Expense 1,200
Salaries Expense 6,000
Supplies Expense 4,000
Total P400,000 P400,000
BALANCE SHEET

TOTAL ASSETS TOTAL LIABILITIES

Cash 55,800 Accounts Payable 33,000
Accounts Receivable 12,000
Supplies 14,000
Equipment 295,000
Total Assets 376,800

INCOME STATEAMENT

EXPENSES
Rent Expense 1,200
Salaries Expense 6,000
Supplies Expense 4,000
11,200
TOTAL OWNER'S EQUITY Total Liab. & Equity
343,800 376,800
 A Adanza Photo Arts or
Balance Sheet
As of October 31,XXX

Assets
Cash P55,800
Accounts Receivable 12,000
Supplies 14,000
Equipment 295,000
Total Assets P376,800

Liabilities and Equity

Liability
Accounts Payable P33,000

Equity
A.Adanza, Ending Capital 343,800
Total Liability and Equity P376,800
 A Adanza Photo Arts
Balance Sheet
As of October 31,XXX

Assets
Cash P55,800
Accounts Receivable 12,000
Supplies 14,000
Equipment 295,000
Total Assets P376,800

Liabilities and Equity

Liability
Accounts Payable P33,000

Beg.Adanza,Capital 0
Add: Initial Investment 330,000
Less/Add: Net Income 25,800
Total P355,800
Less: 12,000
Adanza,Ending Capital P343,800
P376,800
 A Adanza Photo Arts
Income Statement
For the month of October 31,XXX

Revenue P37,000
Less: Expenses:
Rent Expense P1,200
Salaries Expense 6,000
Supplies Expense 4,000 11,200
Net Income P25,800
 A Adanza Photo Arts
Statement of Changes in Owner's Equity
For the month of October 31,XXX

Beg.Adanza,Capital 0
Add: Initial Investment 330,000
Less/Add: Net Income 25,800
Total P355,800
Less: Adanza,Drawing 12,000
Adanza,Ending Capital P343,800