General Journal

Date Account Title Debit Credit

2022
April 4 Cash 10,000
Accounts Receivable 1,500
Supplies 1,250
Office Equipment 7,500
Jill, Capital 20,250

4 Prepaid Rent 4,500

Cash 4,500

4 Prepaid Insurance 1,800

Cash 1,800

6 Cash 3,000
Unearned Revenue 3,000

7 Office Equipment 1,800

Accounts Payable 1,800

8 Cash 800
Accounts Receivable 800

11 Advertising Expense 120

Cash 120

12 Accounts Payable 800

Cash 800

15 Accounts Receivable 2,250

Service Revenue 2,250

15 Salaries Expense 400

Cash 400

15 Cash 3,175
Service Revenue 3,175

18 Supplies 750
Cash 750

22 Accounts Receivable 1,100

Service Revenue 1,100

22 Cash 1,850
Service Revenue 1,850

25 Cash 1,600
 Accounts Receivable 1,600

27 Salaries Expense 400

Cash 400

28 Telephone Expense 130

Cash 130

29 Utilities Expense 200

Cash 200

29 Cash 2,050
Service Revenue 2,050

29 Accounts Receivable 1,000

Service Revenue 1,000

29 Salaries Expense 4,500

Cash 4,500

Adjusting Journal Entries

Date Account Title Debit Credit
2022
a April 30 Insurance Expense 150
Prepaid Insurance 150

b 30 Supplies Expense 980

Supplies 980

c 30 Depreciation Expense 500

Accumulated Depreciation, Equipment 500

d 30 Salaries Expense 20
Salaries Payable 20

e 30 Rent Expense 1,500

Prepaid Rent 1,500

f 30 Unearned Revenue 2,000

Service Revenue 2,000

Closing Journal Entries

Date Account Title Debit Credit
2022
April 30 Service Revenue 13,425
Insurance Expense 150
Depreciation Expense 500
Rent Expense 1,500
Supplies Expense 980
Salaries Expense 5,320
Telephone Expense 130
Utilities Expense 200
Advertising Expense 120
Income Summary 4,525
30 Income Summary 4,525
Jill, Capital 4,525
 Cash Accounts Payable
4/4 10,000 4,500 4/4 1,800 4/7 4/4
4/6 3,000 1,800 4/4 4/12 800 4/15
4/8 800 120 4/11 Balance 1,000 4/22
4/15 3,175 800 4/12 AJE (d)
4/22 1,850 400 4/15 Salaries Payable Balance
4/25 1,600 750 4/18 20 AJE (d)
4/29 2,050 400 4/27 Balance 20
130 4/8 4/28
200 4/29 Unearned Revenue Balance
4,500 4/29 3,000 4/6
Balance 8,875 AJE (f) 2,000
Balance 1,000 4/29
Accounts Receivable Balance
4/4 1,500 800 4/8 Jill, Capital
4/15 2,250 1,600 4/25 20,250 4/4
4/22 1,100 Balance 20,250 4/11
4/29 1,000 Balance
Balance 3,450 Service Revenue
2,250 4/15
Supplies 3,175 4/15
4/4 1,250 1,100 4/22
4/18 750 1,850 4/22
980 AJE (b) 2,050 4/29
Balance
1,020 1,000 4/29
AJE (f) 2,000 AJE (f)
Balance
Prepaid Rent 13,425
4/4 4,500
1,500 AJE (e) Insurance Expense
Balance
3,000 AJE (a) 150
Balance
150
Prepaid Insurance
4/4 1,800 Depreciation Expense
150 AJE (a) AJE (c) 500
Balance Balance
1,650 500

Office Equipment Rent Expense

4/4 7,500 AJE (e) 1,500
Balance
4/7 1,800 1,500
Balance
9,300
Accumulated Depreciation, Suplies Expense
Equipment AJE (b) 980
 Balance
500 AJE (c) 980
Balance
500
 Salaries Expense
400
400
4,500
20
5,320

Telephone Expense
130
130

Utilities Expense
200
200

Advertising Expense
120
120
 Illustre & Family Inc.
Adjusted Trial Balance
For the Month Ended April 31, 2022

Debit Credit
Cash 8,875
Accounts Receivable 3,450
Prepaid Rent 3,000
Prepaid Insurance 1,650
Supplies 1,020
Office Equipment 9,300
Accumulated Depreciation, Equipment 500
Accounts Payable 1,000
Salaries Payable 20
Unearned Revenue 1,000
Jill, Capital 20,250
Service Revenue 13,425
Insurance Expense 150
Depreciation Expense 500
Rent Expense 1,500
Supplies Expense 980
Salaries Expense 5,320
Telephone Expense 130
Utilities Expense 200
Advertising Expense 120
36,195 36,195
 Illustre & Family Inc. Illustre & Family Inc.
Statement of Financial Performance Statement of Financial Position
For the Month Ended April 31, 2022 For the Month Ended April 31, 2022

Revenues Assets
Service Revenue 13,425 Current Assets
Total Revenues 13,425 Cash 8,875
Accounts Receivable 3,450
Expenses Prepaid Rent 3,000
Insurance Expense 150 Prepaid Insurance 1,650
Depreciation Expense 500 Supplies 1,020
Rent Expense 1,500 Total Current Assets
Supplies Expense 980
Salaries Expense 5,320 Non-current Assets
Telephone Expense 130 Office Equipment 9,300
Utilities Expense 200 Less: Accumulated Depreciation, Equipme 500
Advertising Expense 120 Total Non-current Assets
Total Expenses 8,900 Total Assets

Net Income 4,525 Liabilities

Current Liabilities
Accounts Payable 1,000
Salaries Payable 20
Total Current Liabilitiess
Unearned Revenue
Total Liabilities

Owner's Equity
Jill, Capital
Add: Net Income
Total Owner's Equity

Total Liabilities and Owner's Equity

 Illustre & Family Inc. Illustre & Family Inc.
sition Statement of Changes in Owner's Equity Statement of Cash Flows
1, 2022 For the Month Ended April 31, 2022 For the Month Ended April 31

Jill, Capital - beginning 20,250 CASH FLOW FROM OPERATING ACTIVITIES

Add: Net Income 4,525
Jill, Capital - ending 24,775 Cash Payments:

17,995

Net cash flow from operating activities

8,800
26,795 CASH FLOW FROM INVESTING ACTIVITIES

Net cash flow from investing activities

CASH FLOW FROM FINANCING ACTIVITIES

1,020
1,000
2,020 Net cash flow from financing activities

NET INCREASE IN CASH

20,250
4,525
24,775

26,795
 Illustre & Family Inc.
Statement of Cash Flows
For the Month Ended April 31, 2022

CASH FLOW FROM OPERATING ACTIVITIES

Cash receipts from customers 10,975
Cash Payments:
For salaries (5,300)
For insurance (1,800)
For supplies (2,000)
For rent (4,500)
Other Operating Expenses (450)

Cash generated from operations (3,075)

Net cash flow from operating activities (3,075)

CASH FLOW FROM INVESTING ACTIVITIES

Additions to equipment (8,300)

Net cash flow from investing activities (8,300)

CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from capital contributed 20,250

Net cash flow from financing activities 20,250

NET INCREASE IN CASH 8,875

Cash at the beginning of the period 0
Cash at the end of the period 8,875
 Illustre & Family Inc.
Post- Closing Trial Balance
For the Month Ended April 31, 2022

Debit Credit
Cash 8,875
Accounts Receivable 3,450
Prepaid Rent 3,000
Prepaid Insurance 1,650
Supplies 1,020
Office Equipment 9,300
Accumulated Depreciation, Equipment 500
Accounts Payable 1,000
Salaries Payable 20
Unearned Revenue 1,000
Jill, Capital 24,775
27,295 27,295