Solution to transaction

Journal entry for Mekelle university

Account code Description Debit credit
1. 4103 Cash at bank 1,800,000
4003 Transfer from MoFED 1,350,000
4004 Transfer from MoFED 450,000

2. 4103 Cash at bank 1,200,000

4001 Transfer from MoFED 624,000
4002 Transfer from MoFED 576,000

3. 6311 Motor vehicle 750,000

4054 Transfer from MoFED 750,000

4. 4103 Cash at bank 1,000,000

4009 Transfer from MOH 1,000,000

5. 4101 Cash at bank 250,000

4103 Cash in safe 250,000

6.
6111 Salary expense 4,800,000
6131 Payroll expense 400,000
5004 Salary payable 4,000,000
1101 Income tax 500,000
5003 Pension payable 700,000

7. 5003 Pension payable 700,000

4001 Transfer from MoFED 700,000

10. 4103 Cash at bank 4,000,000

4001 Transfer from MoFED 4,000,000

11. 4103 Cash in safe 4,000,000

4101 Cash at bank 4,000,000
OR
Salary payable 4,000,000
Cash at bank 4,000,000

12. 5004 Salary payable 3,400,000

4103 Cash at bank 3,400,000

13. 4103 Cash at bank 500,000

4101 Cash in safe 500,000
14. 4001 Transfer to MoFED 500,000
4103 Cash at bank 500,000

5004 Salary payable 500,000

6111 Salary expense 500,000

15. 6212 Office supplies 250,000

6214 Medical supplies 300,000
6215 Educational supplies 450,000
4103 Cash at bank 850,000
1104 Tax withholding rev 150,000

16. 4009 Transfer to MoFED 150,000

4103 Cash at bank 150,000

17. 6212 Office supplies 25,000

6213 Printing 35,000
6218 Other materials 15,000
5001 Grace period payable 75,000

18. 5001 GPP 75,000

4103 Cash at bank 75,0000

19. 6212 Office supplies 480,000

5002 Sundry creditors 480,000

20. 4103 Cash at bank 500,000

5054 Bid security deposit 500,000

5054 Bid security deposit 500,000

4103 Cash at bank 500,000

21. 4103 Cash at bank 500,000

5054 Bid security deposit 500,000

22. 5054 Bid security deposit 500,000

4103 Cash at bank 500,000

23. 4253 Advance to supplier 480,000

4103 Cash at bank 480,000

6212 Office supplies 500,000

4253 Advance to supplies 480,000
 4103 Cash at bank 20,000

25. 6311 Motor vehicle 1,500,000

2084 Assistance 1,500,000

26. 6111 Salary expense 600,000

6131 Payroll expense 48,000
5004 Salary payable 510,000
1101 Income tax 60,000
5003 Pension payable 78,000

27. 5004 Pension payable 78,000

4009 Transfer from MoFED 78,000

30. 4103 Cash at bank 510,000

4001 Transfer from MoFED 510,000

31. 4103 Cash in safe 510,000

4101 Cash at bank 510,000

32. 5004 Salary payable 510,000

4101 Cash in safe 510,000

33. 4103 Cash at bank 5,000

4101 Cash in safe 5,000

34. 4009 Transfer to MoFED 5,000

4103 Cash at bank 5,000
Table 1
 Journal entry for MoFED

Number Account code Description Debit credit

1. 4003 Transfer to MU 1,350,000
4004 Transfer to MU 450,000
4105 Cash at bank 1,800,000

2. 4001 Transfer to MU 624,000

4002 Transfer to MU 576,000
4105 Cash at bank 1,200,000

3. 4054 Transfer to MU 750,000

4054 Transfer from CA 750,000

6. 4001 Transfer to MU 4,000,000

4105 Cash at bank 4,000,000

8. 4001 Transfer to MU 700,000

5003 Pension payable 700,000

9. 5003 Pension payable 700,000

4105 Cash at bank 7,00,000

10. 4001 Transfer to MoFED 4,000,000

4105 Cash at bank 4,000,000

14. 4105 Cash at bank 500,000

4001 Transfer from MU 500,000

16. 4009 Transfer to MoFED 150,000

4105 Cash at bank 150,000

27. 4001 Transfer to MoFED 90,000

5003 Pension payable 90,000

28. 5003 Pension payable 90,000

4105 Cash at bank 90,000

30. 4001 Transfer to MU 510,000

4105 Cash at bank 510,000

31. 4105 Cash at bank 5,000

4001 Transfer from MU 5,000

Table 2
 TRANSFER
Debit Credit
1. 500,000 1,800,000
2. 150,000 1,200,000
3. 5,000 750,000
4. 1,000,000
5. 700,000
6. 4,000,000
7. 78,000
8. 510,000
Total 655,000 10,038,000
Table 3