Journal Entry

Date Account Title Ref Debit Credit

Aug. 1 Cash ₱ 57,500
Photography Equipment 32,500
Hashim Khan, Capital ₱ 90,000

Aug. 4 Prepaid Insurance 3,000

Cash 3,000

Aug. 7 Account Receivable 10,000

Photographic Services 10,000

Aug. 13 Office Supplies 1,400

Cash 400
Account Payable 1,000

Aug. 20 Cash 2,000

Account Receivable 2,000

Aug. 24 Cash 15,000

Unearned Revenue 15,000

Aug. 29 Photography Equipment 100,000

Cash 25,000
Notes Payable 75,000

Total ₱ 221,400 ₱ 221,400

Ledger Account

Cash
Aug. 1 ₱ 57,500 ₱ 3,000
Aug. 19 2,000 400
Aug. 23 15,000 25,000
₱ 74,500 ₱ 28,400
Total ₱ 46,100

Hashim Khan, Capital

₱ 90,000 Aug. 1

Photographic Services
₱ 10,000 Aug. 7
Unearned Revenue
₱ 15,000 Aug. 24

Hashim Khan Photography

Trial Balance
For the Month Ended Aug. 30, 20

Account Title
Cash
Account Receivable
Office Supplies
Prepaid Insurance
Photography Equipment
Account Payable
Notes Payable
Unearned Revenue
Hashim Khan, Capital
Photographic Services

Total

Hashim Khan Photography

Income Statement
For the Month Ended Aug. 30, 20

Photographic Services
Less: Expenses
No expenses record
Profit

Hashim Khan Photography

Statement of Changes in Equ
For the Month Ended Aug. 30,

Hashim Khan, Capital, Aug. 1, 2016

Add: Additional Investment
 Profit
Total
Less: Withdrawals
Hashim Khan, Capital, Aug. 30, 2016

Hashim Khan Photography

Balance Sheet
For the Month Ended Aug. 30

Assets
Current Assets
Cash
Account Receivable
Office Supplies
Prepaid Insurance
Total Current Assets

Non-current Assets
Photography Equipment
Total Non-current Assets

Total Assets

Liabilities
Current Liabilities
Account Payable
Notes Payable
Unearned Revenue
Total Liabilities

Owner's Equity
Hashim Khan, Capital, Aug. 30, 2016

Total Liabilities and Owner's Equity

Hashim Khan Photog

Statement of Cash
For the Month Ended Au

Cash Flow from Operating Activities:

 Cash receives from customers
Payment to insurance policy
Payment for office supplies
Payment to suppliers of goods and service
Net cash provided by Operating Activities

Cash Flow from Investing Activities:

Payment to acquire photography equipment
Net cash flow used in Investing Activites

Cash Flow from Financing Activities:

Cash received as investment by the owner
Issuance of notes payable
Net cash provided by Financing Activities
Net Increase in Cash
Cash balance at the beginning of the period
Cash balance at the end of the period
 Photography Equipment
Aug. 4 Aug. 1 ₱ 32,500
Aug. 13 Aug. 29 100,000
Aug. 29
₱ 132,500

Prepaid Insurance Account Receivable

Aug.4 ₱ 3,000 Aug. 7 ₱ 10,000
₱ 8,000

Office Supplies Account Payable

Aug. 13 ₱ 1,400
 Notes Payable
₱ 75,000 Aug. 29

Hashim Khan Photography

Trial Balance
the Month Ended Aug. 30, 2016

₱ 46,100
8,000
1,400
3,000
132,500
₱ 1,000
75,000
15,000
90,000
10,000

₱ 191,000 ₱ 191,000

Hashim Khan Photography

Income Statement
the Month Ended Aug. 30, 2016

₱ 10,000

0
₱ 10,000

Hashim Khan Photography

Statement of Changes in Equity
or the Month Ended Aug. 30, 2016

₱ 90,000
₱ -
 10,000 10,000
₱ 100,000
0
₱ 100,000

Hashim Khan Photography

Balance Sheet
For the Month Ended Aug. 30, 2016

Assets

₱ 46,100
8,000
1,400
3,000
₱ 58,500

₱ 132,500
₱ 132,500

₱ 191,000

Liabilities

₱ 1,000
75,000
15,000
₱ 91,000

Owner's Equity
₱ 100,000

₱ 191,000

Hashim Khan Photography

Statement of Cash Flow
For the Month Ended Aug. 30, 2016
 ₱ 27,000
-3,000
-400
and service -10000
₱ 13,600

hy equipment -₱ 132,500
-₱ 132,500

y the owner ₱ 90,000

75,000
₱ 165,000
₱ 46,100
0
₱ 46,100
count Receivable
₱ 2,000 Aug. 20

Account Payable
₱ 1,000 Aug. 13