A Bank 25,000.

00
Investment 25,000.00
* Owner investment

B Computer 2,000.00
Bank 2,000.00
* Purchase computer, cash

C Bank 600.00
Sales 600.00
*sold singing services

D Salaries 850.00
Bank 850.00
*January salaries payment

E Furniture 2,100.00
A/P 2,100.00
*Purchase table & chair on credit (Ikea)

F A/R 1,000.00
Sales 1,000.00
*sold singing services

G Electricity 150.00
Bank 150.00
*January, electricity payment

H Withdrawal 5,000.00
Bank 5,000.00
*Owner withdrawal
I Rent 400.00
Bank 400.00
*January rent payment

J A/P 2,100.00
Bank 2,100.00
*Debt payment to Ikea store

K Bank 1,000.00
A/R 1,000.00
*Received payment from customer (see transaction F)
 ASSET LIABILITY

Bank A/P
A 25,000.00 2,000.00 B J 2,100.00 2,100.00
C 600.00 850.00 D 0.00
K 1,000.00 150.00 G
5,000.00 H
400.00 I
2,100.00 J
EB 16,100.00

Furniture
E 2,100.00

Computer
B 2,000.00

A/R
F 1,000.00 1,000.00 K
EB 0.00
 EQUITY

Investment
E 25,000.00 A
EB

Sales
600.00 C
1,000.00 F
1,600.00 EB

Electricity
G 150.00

Rent
I 400.00

Salaries
D 850.00

Withdrawal
H 5,000.00
 Celine Dion, singing school
Trial balance
Jan.31, 2020

Account Debit Credit

Bank 16,100.00
A/R 0.00
Furniture 2,100.00
Computer 2,000.00
A/P 0.00
Investment 25,000.00
Withdrawal 5,000.00
Sales 1,600.00
Electricity 150.00
Rent 400.00
Salaries 850.00

Total 26,600.00 26,600.00

 Celine Dion, singing school
Income statement
From January 1 to January 31, 2020

Revenue 1,600.00

Expense
Electricity (150.00)
Rent (400.00)
Salaries (850.00)

Net income 200.00

 Celine Dion, singing school
Statement of change of Equity
From January 1 to January 31, 2020

Capital, Celine Dion, January 1 0.00

Add :
Investment by owner 25,000.00
Profit (net income statement) 200.00

Less :
Withdrawal from owner (5,000.00)
Loss (net income statement)

Capital, Celine Dion, January 31 20,200.00

 Celine Dion, singing school
Balance sheet
January 31, 2020

Assets Liabilities
Bank 16,100 Accounts payables
Accounts Receivables - Note payable ###
Furniture 2,100 Total liabilities -
Computer 2,000
Equity
Capital, Celine Dion 20,200
Total Equity 20,200

Total Assets 20,200 Total liabilities & Equity 20,200

- ###