Prepare Trial Balance, BASIC income Statement, Balance Sheet, Statement of Changes in Equity.

Accounting Transactions Ludivinia Victorino, a veteran photograher, opened a studio for her professional practice on July 1. Transactions completed during the month follow: a. Deposited Php146,200.00 in a bank account in the name of the business, Victorino PhotoProfiles. b. Bought new photography equipmet on account from Canon Equipment, Php71,210.00 c. Invested personal photography equipment into the business, Php51,620.00 d. Paid office rent for the month, Php5,500.00 e. Bought photography supplies for cash, Php7,960.00 f. Paid premium for insurance cover on photography equipment, P1,240.00 g. Received Php8,960.00 as professional fees for services rendered. h. Paid salary of part-time assistant, Php6,000.00 i. Received and paid bill for telephone service, Php640.00. j. Paid Canon Equipment part of the amount owed on the purchase of photography equipment, P4,200.00 k. Received Php15,480.00 as professional fees for services rendered. I. Paid for minor repairs to photography equipment, Php760.00 m. Victorino withdrew cash for personal use, P9,600.00Victorino PhotoProfiles General Journa # Account Cod. Account Name Debit Credit Remarks Un Cash 146.200.00 301 Victorino's Capital 146.200.00 Cash invested by the owner b 03 Photography Equipment B 71,210.00 20 Accounts Payable 71,210.00 Office Equipment acquired on account 03 Photography Equipment 51,620.00 Victorino's Capital 51,620.00 Investment in kind by the owner 501 Rent Expense E 6,500.00 10 Cash 5,500.00 Paid rent for the month 04 Supplies 7960.00 107 Cash 7.960.00 Purchase photography supplies F 05 Prepaid Insurance 1,240.00 101 Cast 1,240.00 Paid Insurance Premiums U1 Cash 8,960.00 40 Professional Revenue 8,960.00 Revenues earned and cash collected h 502| Salaries Expense 6,000.00 10 Cash 6,000.00 Paid salaries of part-time assistant 603 Telecommunications Expense 640.00 101 Cash 640.00 Paid bill for telephone service incurred 207 Accounts Payable E 4,200.00 101 Cash 4.200.00 Partially paid the purchased photography equipment on account k U Cash B 15.480.00 40 Professional Revenue 15,480.00 Revenues earned and cash collected 604 Repair Expense /60.00 10 Cash 760.00 Minor repairs to photography equipment paid in cash m 302 Victorino's Drawings 9,600.00 101 Cash 3,600.00 Cash withdrawn for the monthChart of Accounts Transactions Photogra Telecom Accounts Prepaid Victorino Professio Cash phy Accounts Supplies Victorino' Rent Rreceivab nal Salaries municati Repair Insuranc Equipmen Payable s capital Expense Expense on Expense les e Drawings Revenue Expense a. Deposited Php146,200.00 in a bank account in the name of the business, 146,200 146,200 Victorino PhotoProfiles. b. Bought new photography equipmet on account from Canon Equipment, 71,210 71,210 Php71,210.00 c. Invested personal photography equipment into the business, Php51,620.00 51,620 51,620 d. Paid office rent for the month, Php5,500.00 5,500) (5,500) e. Bought photography supplies for cash, Php7,960.00 7,960) f. Paid premium for insurance cover on photography equipment, P1,240.00 (1,240) g. Received Php8,960.00 as professional fees for services rendered 8,960 h. Paid salary of part-time assistant, Php6,000.00 6,000 i. Received and paid bill for telephone service, Php640.00. 640 j. Paid Canon Equipment part of the amount owed on the purchase of (4,200) photography equipment, P4,200.00 k. Received Php15,480.00 as professional fees for services rendered 15,480 I. Paid for minor repairs to photography equipment, Php760.00 760) m. Victorino withdrew cash for personal use, P9,600.00 (9,60 134,740