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Date Particulars/Transactions Assets

Manohar invested 30,000 cash to start a photography business. He bought equipment for 12,000 and supplies on credit. By month end, he had 19,000 in accounts receivables from services and 9,000 in supplies. His assets of equipment and receivables totaled 31,000 and his capital remained at 30,000 as the business broke even in its first month.

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Thanuja Bhaskar
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28 views3 pages

Date Particulars/Transactions Assets

Manohar invested 30,000 cash to start a photography business. He bought equipment for 12,000 and supplies on credit. By month end, he had 19,000 in accounts receivables from services and 9,000 in supplies. His assets of equipment and receivables totaled 31,000 and his capital remained at 30,000 as the business broke even in its first month.

Uploaded by

Thanuja Bhaskar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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DATE PARTICULARS/TRANSACTIONS ASSETS

EQUIPMENT ACCOUNTS RECEIVABLES


1-Jan Manohar invested30,000 cash
2-Jan Bought supplies of photo materials on credit
5-Jan Bought photographic equipment 12,000
7-Jan Received fees for photographic services
13-Jan Paid creditor for supplies
18-Jan Invested cash in company share capital
22-Jan Billed customer for service 19,000
27-Jan paid office rent and electricity charges
30-Jan paid dividends
31-Jan Prepared monthly payroll to be paid on feb 1
TOTAL 12,000 19,000
ASSETS = LIABILITIES + CAPITAL
CURRENT ASSETS CURRENT LIABILITIES
SUPPLIES CASH LOAN ACCOUNTS PAYABLE + EQUITY DRAWINGS
30,000 = + 30,000
9000 = 9,000 +
-12,000 = +
15,000 = +
-5000 = -5000 +
12,000 = + 12,000
= + 19,000
-3700 = +
-4000 = +
11500 +
9000 32,300 = 0 15,500 + 61,000 0
CAPITAL
P/L ACCOUNT
REVENUE EXPENSES

15,000

-3700
-4000
-11500
15,000 -19200

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