Professional Documents
Culture Documents
Assignment FINAL
Assignment FINAL
Required
a. Journal all transactions.
b. Post into ledger
c. Prepare trial balance
d. Prepare income statement
e. Prepare balance sheet
P 2-The following transactions were completed by Ethiopian Hair Dressing for the month of
December 2018.
1- Hair dressing supplies were purchased on account for 12500
2- Mr. Seville invested 200000 of cash.
3- Rent was paid for December and January, 3000.
4- 5000 was borrowed as a loan from bank .
5- Performed hair styling for 22500 on credit and 31500 on cash.
6: performed hair styling for 2000$ on cash.
7: Telephone bill was paid, 600
8- Salaries were paid, 8000.
9- Collected receivables for 15000
Required
Dec. 31 the balance in un earned fees represented the dec 1 receipt in advance for services
to be provided. only 1900 of the service were provided.
Dec. 31 Wages of $650 for December will be paid in January.
Dec. 31 Services were performed for a client for $800. The client has not been billed yet.
P4:
al aqsa co
NOV 30 .2028
particular DEBIT CREDIT
CASH 3700
ACCOUNT RECEIVABLE 18900
PREPAID INSURANCE 4800
SUPPLIES 1320
LAND 75000
BUILDING 141500
ACC.DEP -BUILDING 91700
EQUIPMENT 90200
ACC.DEP -EQUIPMENT 65300
ACCOUNT PAYABLE 8100
UNEARNED FEES 4500
CAPITAL 134000
DRAWING 10000
FEES EARNED 196400
WAGES EXPENSES 95580
UTILITIES EXP 28250
ADVERTISING EXPENSES 15200
REPAIR EXPENSES 11500
MISC EXPENSES 4050
500000 500000
1: opened a business bank account with deposit of 15000$ from personal funds.
2:purchased supplies (pens, file folders, and copy paper) on account 1350.
3: received cash from fees earned for service provided 6500$ .
4:paid rent on office and equipment for the month 2500$ .
5:paid creditors on account 700$ .
6: provided service to customer on account 1250$ .
7:paid automobile expenses (including rental charges ) for month 550$ and miscellaneous
expenses
675$.
7: paid office salaries $1800.
8: with draw cash for personal use 1500$ .
A:Journal all transactions .
B:Post into ledger
C:Prepare trial balance
D:Prepare income statement .
E: owner’s equity statement .
f: Prepare balance sheet.
Q4:
A: transferred cash from a personal account to an account to be used for the business, 17500 $.
B: purchased used automobile for 15300 $, paying $ 4000 cash and giving a note payable for the
reminder.
C: paid April rent for office and workroom 2200$.
D: paid cash for supplies 660$
E: purchased office and computer equipment on account ,5200$.
F: paid cash for annual insurance policies on automobile and equipment 1200$.
G: received cash from a client for plans delivered 3725 $.
H: paid cash to creditors on account 1800$.
I: paid cash for miscellaneous expenses 235$.
J: received invoice for blue print service due in may 650$.
K: recorded fees earned on plans delivered, payment to be received in may 3500$.
L: paid salary of assistance 1300$.
M: paid cash for utilities expenses 105$.
N: paid installment due on note payable 200$.
0: paid gas ,oils, and repairs on automobiles for April 115 $
INSTRUCTIONS:
A: Journal all transactions.
B:Post into ledger
C:Prepare trial balance
D:Prepare income statement .
E: ownern’s equity statement .