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    Date Particulars/Transactions Assets

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    Thanuja Bhaskar
    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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    Date Particulars/Transactions Assets

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    Thanuja Bhaskar
    19 views3 pages
    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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    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    19 views3 pages

    Date Particulars/Transactions Assets

    Uploaded by

    Thanuja Bhaskar
    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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    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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