Individual Assignment

INDIVIDUAL ASSIGNMENT
Allowed weight 35%
Submitted date 21/11/2022
Out of deadline automatically unacceptable
Copy form other student are directly zero
Dear student use book
Warren Reeve Duchac
Accounting 23e
Page – 40
Pr 1-1B
Page- 83
Ex 2-13
Page – 87 – 88
Pr 2 – 3A
Page – 194 – 195
Pr 4 – 6B
Project Two: Process Business Documents and Financial Report
July 01: Bacha invested Br 40,000 in cash to form Bacha Website Design.
July 02: Order office supplies Br 5,200.
July 03: Rent an office pays two months’ rent in advance, Br 3,200.
July 05: Received office supplies ordered on July 2 and an invoice for Br
5,200.
July 09: Made a partial payment of the amount owed for the office supplies
received on July 5, Br 2,600.
July 10: Performed a service for an automobile dealer by designing a website
and collects a fee in cash Br 2,800.
July 12: Purchased Office Equipment Br 16,320 for cash.
July 15: Performed a service for a department store by designing a website

bills for the fee new but will collect the fee later, Br 9,600.
July 19: Accepted an advance fee a deposited on website to be designed, Br

1,400.
July 22: Received cash from customer previously billed on July 15, Br 5,000
July 26: Paid Employees four weeks wages, Br 4,800.
July 30: Received but doesn’t pay the utility bill that is due next month, Br
680.
July 31: Bacha withdraw, 2,800 in cash.
Instruction: record the journal entry, post to ledger and prepare unadjusted
trial Balance
Additional Information for adjustment
a. Expiration of one month’s rent Br 1,600.
b. Consumption of office supplies Br 1,540.
c. Depreciation of office equipment Br 300.
d. Accrued of unrecorded wages Br 720.
e. Performance of service for which cash was received in advance, Br

800.
f. Accrued of unrecorded revenues, Br 400.
Instruction:
1. Adjusting entry
2. Prepare income statement.
3. Prepare owner equity statement.
4. Prepare Balance sheet (ignore business profit tax).

Project One : Bank Reconciliation
Tsegay Trading has received his bank pass sheets for the year to 31, October
2015. As the date, his balance at the bank amounted to birr 14,130 whereas
his own cash book showed a balance of birr 47,330. His accountant
investigated the matter and discovered the following discrepancies:
a. Bank charges of birr 60 had not been entered in the cash book.
b. Checks drawn by Tsegay& totaling 450 had not yet been presented to
the bank.
c. Tsegay had not entered receipts of birr 530 in his cash book from
credit customer.
d. The bank had not credited Tsegay with receipts of birr 1,970 paid in
to the bank on 31st October, 2015.
e. Payments of creditors amounting to birr 1,240 had not been entered
in the cash book.
f. Tsegay had entered a payment of wages expense birr 560 in his cash
book as birr 650.
g. A check received for birr 300 from debtor had been returned by the
bank marked “refer to drawer”, but this had not been written back in
the cash book.
h. Check totaling birr 6,585 draw on 29th October for payment of notes
payable had been debited instead of credited.
i. Deposits in transit October 31, totaled birr 880.
j. Some of Tsegay’s customers had paid to settle their debts by direct
debit. Unfortunately, the bank had credited some direct debits
amounting to birr 16,650 to another customer’s account.
Required:
1. Prepare bank reconciliation for Tsegay trading at November 30, 2015.
2. Prepare the general journal entries necessary to bring the cash in bank
account into agreement the adjustment
Project two: Bank Reconciliation statement and transaction
The cash in the bank account for abay manufacturing company as June
1,2015 of the current year indicate a balance of birr 18,443.90. During June
the total cash deposited was birr 30,650.75, and check written totalled birr
31,770.25. The bank statement indicated a balance of birr 26,465.50 on
June 31.the comparison of the bank statement the collected check and the
accompanying memorandums with the record revealed the following
reconciliation item
A. Cheques outstanding totalled birr 8,003.84

B. A deposit of birr 2,148.21 representing receipts on June 31 had been
made too late to appear on the bank statement
C. The bank had collected for abay manufacturing company birr 3,650
on a note left for collection. The face of the note was birr 3,500
D. A check for birr 470 returned with the statement had been incorrectly
charged by the bank as birr 740
E. A check for birr 84.20 returned with the statement had been recorded
by abay manufacturing company as birr 8.42. the check was for the
payments of an obligation to abay manufacturing company on
accounts
F. Bank service charge for June amounted to birr 18.75
Required
Task 1 prepare a bank reconciliation as of June 31, 2015
Task 2. Journalizes the necessary entries.
Project three: Bank Reconciliation statement and transaction
The bank statement for Geda company for June 30, 2015, indicates a
balance of birr 9,143.11. All cash receipts are deposited each evening in a
night depository, after banking hours. The accounting records of the
company indicate the following summary data for each receipt and
payments for June:
Cash balance as of June 1, 2015 -----------------------------------birr 3,943.50
Total cash receipts for June 2015 ----------------------------------birr 28,971.60
Total amount of checks issued /payment/ in June 2015 ------birr 28,388.85
A. Comparing the bank statement and the company’s records the

following reconciling items were identified:
B. The bank had collected for Geda company birr 1,030 on a note left for
collection. The face amount of the note was birr 1,000
C. Deposit in transit was birr 1,852.21
D. Checks outstanding totaled birr 5,265.27
E. A check written for birr 139 had been incorrectly charged by the bank
as birr 157
F. A check for birr 30 was wrongly recorded as birr 240 by the company.
The check was for the payment of accounts payable.
G. Bank service charges for June amounted to birr 18.20
Instructions
Task 1. Prepare bank reconciliation for June 2015.
Task 2. Journalize the entries for June be made by Geda Company

Individual Assignment

Uploaded by

Individual Assignment

Uploaded by

INDIVIDUAL ASSIGNMENT

Allowed weight 35%

Submitted date 21/11/2022

Out of deadline automatically unacceptable

Copy form other student are directly zero

Dear student use book

Warren Reeve Duchac

Page – 194 – 195

Project Two: Process Business Documents and Financial Report

July 02: Order office supplies Br 5,200.

July 12: Purchased Office Equipment Br 16,320 for cash.

July 15: Performed a service for a department store by designing a website

July 19: Accepted an advance fee a deposited on website to be designed, Br

July 26: Paid Employees four weeks wages, Br 4,800.

July 31: Bacha withdraw, 2,800 in cash.

a. Expiration of one month’s rent Br 1,600.

b. Consumption of office supplies Br 1,540.

c. Depreciation of office equipment Br 300.

d. Accrued of unrecorded wages Br 720.

e. Performance of service for which cash was received in advance, Br

f. Accrued of unrecorded revenues, Br 400.

2. Prepare income statement.

3. Prepare owner equity statement.

4. Prepare Balance sheet (ignore business profit tax).

Project two: Bank Reconciliation statement and transaction

A. Cheques outstanding totalled birr 8,003.84

Task 1 prepare a bank reconciliation as of June 31, 2015

Task 2. Journalizes the necessary entries.

Project three: Bank Reconciliation statement and transaction

Cash balance as of June 1, 2015 -----------------------------------birr 3,943.50

Total cash receipts for June 2015 ----------------------------------birr 28,971.60

Total amount of checks issued /payment/ in June 2015 ------birr 28,388.85

A. Comparing the bank statement and the company’s records the

Task 1. Prepare bank reconciliation for June 2015.

Task 2. Journalize the entries for June be made by Geda Company

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