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Accounting Assignment - Docx 1

Accounting assignment.

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27 views3 pages

Accounting Assignment - Docx 1

Accounting assignment.

Uploaded by

sososoverymuch
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ADDIS ABABA UNIVERSITY

COLLEGE OF BUSINESS & ECONOMICS

Fundamentals of Accounting I
Assignment
(AcFn2011)

Group Assignment

No Name of Group Member ID Signature Section


1 Mehret Samson UGR/9577/15 4
2 Mulugeta Fekadu UGR/4027/15 4
3 Mesfin Tiki UGR/4048/15 4
4 Mercy Selamu UGR/2017/15 4
5 Mahlet Fisshaye UGR/4453/15 4
6 Nathnael Tesfaye UGR/2523/15 4

Submission date: Tuesday, November 7, 2023

Submitted to: Instructor Kassaye Tuji


Analysis of Transactions

No. Name of Accounts Affected Classifications Effect


1 Cash Asset Increased by $ 20,000
Alemu Haba, Capital Capital Increased by $ 20,000

2 AH, Furniture Asset Increased by $ 30,000


Personal Furniture Asset Decreased by $ 30,000

3 Supplies Asset Increased by $ 3,000


Account payable Liability Increased by $ 3,000

4 Cash Asset Increased by $ 20,000


Service revenue Capital Increased by $ 20,000

5 Cash Asset Decreased by $ 3,000


Advertising expense Capital Decreased by $ 3,000

6 None None None


None None None

7 Cash Asset Increased by $ 10,000


Alemu Haba, Capital Capital Increased by $ 10,000
(Investment)

8 Account receivable Asset Increased by $ 15,000


Service Revenue Equity Increased by $ 15,000

9 Cash Asset Increased by $ 5,000


Sales revenue Capital Increased by $ 5,000

10 Cash Asset Increased by $ 5,000


Account receivable Asset Decreased by $ 5,000

11 Cash Asset Decreased by $ 2,000


Account payable Liability Decreased by $ 2,000

12 Cash Asset Decreased by $ 8,000


Car Asset Increased by $ 8,000

13 Cash Asset Increased by $ 4,000


Dashen bank payable Liability Increased by $ 4,000

14 None None None


None None None

15 Cash Asset Decreased by $ 12,500


Wage expense Capital Decreased by $ 6,000
Rent expense Capital Decreased by $ 4,500
Utility expense Capital Decreased by $ 1,200
Others expense Capital Decreased by $ 800

16 Supplies Asset Decreased by $ 1,700


Supplies expense Capital Decreased by $ 1,700

17 Cash Asset Decreased by $ 450


Dashen bank payable Liability Decreased by $ 400
Interest expense Capital Decreased by $ 50

18 Cash Asset Decreased by $ 5,000


Alemu Haba, Drawing Capital Increased by $ 5,000

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