2018 Particulars Debit

Oct 1 Cash 450,000

JM Photography, Capital
#

3 Prepaid Rent 40,500

Cash
#

5 Photography Equipment 129,000

JM Photography, Capital
#

8 Office Equipment 54,000

Cash
#

10 Photography Equipment 75,000

Cash
Received and paid for photography equipment ordered on Oct 7

12 Photography Supplies 21,000

Accounts Payable
#

13 Cash 110,400
Service Revenue
#

17 Accounts Receivable 220,500

Service Revenue
#

19 Accounts Payable 10,500

Cash
#

25 Utility Expense 3,600

Cash
#

26 Utility Expense 2,100

Cash
 #

28 Cash 7,500
Accounts Receivable
#

29 Salaries Expense 12,000

Cash
#

30 Cash 1,500
Unearned Income
#

31 JM Photography, Withdrawal 16,000

Cash
#
Credit

450,000

40,500

129,000

54,000

75,000

21,000

110,400

220,500

10,500

3,600

2,100
 7,500

12,000

1,500

16,000
 CASH JM Photography, Capital
Oct. 1 450,000 40,500 Oct.3 450,000 Oct.1
Oct.13 110,400 54,000 Oct.8 129,000 Oct.5
Oct.28 7,500 75,000 Oct.10 Bal. 579,000
Oct.30 1,500 10,500 Oct.19
3,600 Oct.25
2,100 Oct.26
12,000 Oct.29
16,000 Oct 31
Bal. 355,700

Prepaid Rent Photography Equipment

Oct.3 40,500 Oct. 5 129,000
Bal. 40,500 Oct. 10 75,000
Bal. 204,000

Office Equipment Photography Supplies

Oct. 8 54,000 Oct. 12 21,000
Bal. 54,000 Bal. 21,000

Accounts Payable Service Revenue

Oct.19 10,500 21,000 Oct 12. 110,400 Oct.13
Bal. 10,500 220,500 Oct.17
Bal. 330,900

Utility Expense Accounts Receivable

Oct. 25 3,600 Oct. 17 220,500 7,500 Oct.28
Oct. 26 2,100 Bal. 213,000
Bal. 5,700

Salaries Expense Unearned Income

Oct. 29 12,000 1,500 Oct.30
Bal. 12,000 Bal. 1,500

JM Photography, Withdrawal
Oct. 31 16,000
Bal. 16,000
 INCOME STATEMENT
For the Month Ending Oct 31, 2018
Service Revenue: 330,900
Gross Profit 330,900
Operating Expenses
Utility Expense 5,700
Salary Expense 12,000
Total Expenses 17,700
PROFIT 313,200
 JM Photography
Trial Balance
31-Oct-18
Page No. Account Titles Debit Credit
1 Cash 355,700
2 Accounts Receivable 213,000
3 Prepaid Rent 40,500
4 Photography Equipment 204,000
5 Office Equipment 54,000
6 Photography Supplies 21,000
7 JM Photography, Capital 579,000
8 JM Photography, Withdrawal 16,000
9 Accounts Payable 10,500
10 Service Revenue 330,900
11 Unearned Income 1,500
12 Utility Expense 5,700
13 Salaries Expense 12,000
921,900 921,900
 JM Photography
Balance Sheet
As of 31 October 2018
ASSETS
Current Assets:
Cash 355,700
Accounts Receivable 213,000
Photography Supplies 21,000
Prepaid Rent 40,500
Total Current Assets 630,200

Non-Current Assets:
Equipment:
Photography Equipment 204,000
Office Equipment 54,000
Total Equipment: 258,000

Total Assets 888,200

Liabilities and Owner's Equity

Liability
Current Liability:
Accounts Payable 10,500
Unearned Income 1,500
Total Current Liability 12,000

Owner's Equity
JM Photography, Capital 876,200
Total Liabilities and Owner's Equity 888,200