FINANCIAL AND MANAGERIAL ACCOUNTING

Assigment 01
Course Instructor :- KIRUBEL ASEGIDEW(ASS PROF)
1
NURU MEDA GOLF AND DRIVING RANGE PLC
DATE
1 120,000.00

purchase of mechare meda

3 76,000.00 golf( land=20,000.00,
Building=44,000.00,
Equipment=12,000.00)
5 3,200.00 Advertising payment
MARCH 6 2,480.00 Insurance payment
10 5,000.00 Payable to young company
18 2,400.00 Received golf fee
25 2,000.00 Dividend
30 1,800.00 Salary and wages expense
30 5,000.00 paid to young company
31 1,500.00 Received fee

NURU MEDA GOLF AND DRIVING RANGE PLC

Date Debit Credit
1 Cash 120,000.00
Ordinary Capital 120,000.00
3 land 20,000.00
building 44,000.00
Equipment 12,000.00
Cash 76,000.00
5 Advertising expense 3,200.00
cash 3,200.00
6 Prepaid Insurance 2,480.00
Cash(insurance) 2,480.00
10 Golf Equipment 5,000.00
March
Account Payable 5,000.00
18 Cash 2,400.00
Service Revenue 2,400.00
25 Dividend 2,000.00
cash 2,000.00
30 Salary Expense 1,800.00
Cash 1,800.00
30 Account Payable 5,000.00
Cash 5,000.00
31 Cash 1,500.00
Service Revenue 1,500.00

2
a
Haile Resort Calculation
Date Debit Credit
31 Insurance expense 2,250.00 = 9,000*3/12
prepaid insurance 2,250.00
31 Supplies Expense 3,900.00 = 5,200-1300
Supplies 3,900.00
31 Depreciation expense Building 2,400.00 = 240,000*4%*3/12
Accumulated Depreciation 2,400.00
31 Depreciation expense Equipment 800.00 = 32,000*10%*3/12
Accumulated Depreciation 800.00
Aug
31 Unearned Rent 7,600.00
Rent Revenue 7,600.00
31 Salary and wages Expense 750.00
Salaries and wages payable 750.00
31 Account Receivable 1,600.00
Rent Revenue 1,600.00
31 Interest Expense 2,000.00 =100,000*8%*3/12
Interest payable 2,000.00

Haile Resort Adjusted Trial Balance Aug 31,2022

 Debit Credit
cash 39,200.00
Prepaid Insurance 6,750.00
supplies 1,300.00
Land 40,000.00
Building 240,000.00
Accumulated Depreciation 2,400.00
Equipment 32,000.00
Accumulated Depreciation 800.00
Acc. Payable 9,000.00
Unearned Rent Revenue
Mortgage Payable 100,000.00
Share Capital-Ordinary 200,000.00
Insurance Expense 2,250.00
Supply expense 3,900.00
Depreciation expense equipment 800.00
Depreciation expense Building 2,400.00
Interest Expense 2,000.00
interest Payable 2,000.00
Retained Earnings
Dividends 10,000.00
Rent Revenue 181,600.00
Salaries and wages expense 90,350.00
Salaries and wages payable 750.00
Utilities Expense 18,400.00
Mainenance and repair Expense 7,200.00
496,550.00 496,550.00 -

3
a
soft tech, consulting engineer
Date Debit Credit Calculation
31 Service Revenue 12,000.00
Unearned Service 12,000.00
31 Account Receivable 9,800.00
Service Revenue 9,800.00
31 Bad Debt Expense 2,860.00
Allowance for Doubltfull account 2,860.00
31 Insurance Expense 960.00
Prepaid Insurance 960.00
Dec 31 Depreciation Expense 5,000.00 =50,000*10%

Accumulated Depreciation Equipment 5,000.00

31 Interest Expense 120.00
Interest payable 120.00 =14,400*10%
31 Prepaid rent 1,500.00
rent expense 1,500.00
31 salary expense 5,020.00
salary payable 5,020.00

b
Soft Tech, Consulting Engineer
worksheet
Aug 31, 2022
unadjusted trial balance adjusting journal entries Adjusted Trial Balance
Debit Credit Debit Credit Debit
cash 59,000.00
accounts receivable 99,200.00
allowance for doubtful accounts 1,500.00
supplies 3,920.00
prepaid insurance 2,200.00
equipment 50,000.00
accumulated depreciation-eqmt 12,500.00
Noted payable 14,400.00
Share, Capital 104,020.00
Dividend 34,000.00
Service Revenue 197,800.00
unearned revenue 12,000.00
accounts receivable 9,800.00
Rent Expense 19,500.00
 Salaries and Wages Expense 61,000.00
Utilities Expense 2,160.00
Office Expense 1,440.00
342,220.00 342,220.00

4
solution
a Genaral Journal
Date Account Tittle and Explanation Debit credit
Mar Cash 35,000
Owner's Capittal 35,000
1 Equipment 6,000
Cash 2,000
Account Payable 2,000
3 Supplies 1,500
Account Payable 1,500
5 Prepaid insurance 1,200
Cash 1,200
14 Account Receivable 4,800
Service Revenue 4,800
18 Accounts Payable 2,000
Cash 2,000
20 Salaries and wages Expence 7,000
Cash 7,000
21 Cash 3,800
Account Receivable 3,800
28 Account Receivable 2,500
Service Revenue 2,500
31 Gasoline Expence 2,000
Cash 2,000
31 Owner's Drawing's 3,000
Cash 3,000

CASH
Date Debit Credit Balance
1-Mar 35,000.00 35,000
1 2000 33,000
5 1200 31,800
18 2000 29,800
20 7000 22,800
21 3,800.00 26,600
31 2000 24,600
31 3000 21,600

ACCOUNTS RECEIVABLE
Date Debit Credit Balance
14-Mar 4,800.00 4,800
21 3800 1,000
28 2,500.00 3,500
31 500 4,000

SUPPLIES
Date Debit Credit Balance
3-Mar 1,500.00 1,500
31 adjesting 950 550

PREPAID INSURANCE
Date Debit Credit Balance
5-Mar 1,200.00 1,200
31 adjusting 100 1,100

EQUIPMENT
Date Debit Credit Balance
 1-Mar 6,000.00 6,000

ACCUMULATED DEPRECIATION -Equipment

Date Debit Credit Balance
mar 1adjusting 300 300

ACCOUNT PAYABLE
Date Debit Credit Balance
1-Mar 3000 3,000
3 1200 4,200
18 2,000.00 2,200

SALARIES PAYABLE
Date Debit Credit Balance
1-Mar 550 550

ower's Capital
Date Debit Credit Balance
1-Mar 35000 35,000
31-closing 3,000 32,000

Owner's Drawing
Date Debit Credit Balance
1-Mar 3,000 3,000
31 closing 3000 -

Service Revenue
Date Debit Credit Balance
14-Mar 4800 4,800
28 2500 7,300
500 7,800
31 Closing 7,800.00 -

Gasoline Expense
Date Debit Credit Balance
1-Mar 2,000 2,000
31 closing 2,000 -

Supplies Expense
Date Debit Credit Balance
mar-1adjusting 950 950
31 closing 950 -

Depreciation Expense
Date Debit Credit Balance
Mar-1 Adjusting 200 200
31-closing 200 -

INSURANCE EXPENSE
Date Debit Credit Balance
Mar-1 3Adusting 100 100
31 closing 100 -

Salaries and wages Expense

Date Debit Credit Balance
20-Mar 7,000
31 Adjusting 550.00 7,550
31-Closing 7550 -

INCOME STATATEMENT
FOR THE MONTH ENDED MARCH31 2012
Revenues
Service revenue 7800
Expenses
Salaries and wages Expense 7550
Supplies Expense 950
Depreciation Expense 200
INSURANCE EXPENSE 100
Total expense -1000
 Net income (1,000)

Owner's Capital march-1

Add Investment 35000
net income -1000
34,000
Less drawing 2000
OWEN Capital march31 32,000

Balance sheet
Asset
property, plant,and equipment
Equipment 6000
Less Accumulated depreciation 200
Total Asset 5800

Assets
Current Assets
cash 21600
Account receivable 4,000
supplies 550
PREPAID INSURANCE 1100
Total current asset 27,250

POST CLOSING TRIAL BALANCE

DEBIT CREDIT
Cash 21600
Account receivable 4000
PREPAID INSURANCE 1100
Equipment 6000
depreciation equipment 200
ACCOUNT PAYABLE 2200
Salaries and wages Expense 7550
OWEN Capital march31 32000
74,650

STUDENT :- ENAWU DASE JUKI

ID NO :- MBAO/4668/15A
Assigment 01:- FINANCIAL AND MANAGERIAL ACCOUNTING
Adjusted Trial Balance
Credit
L ACCOUNTING