East Africa University College
Department of Business Administration
Individual Assignments II: Accounting
MBA Program
BY: Haregua Gashaw EACMBA0017/12 E.C
Submitted to: - [Link]
Adama, ETHIOPIA
aug, 2020
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Date Journal Entries Debit Credit
July 1,2013 Cash 11000
Investment Capital 11000
July 2,2013 Rent Expense 800
Cash 800
July 3,2013 Equipment 3000
Account Payable 3000
July 4,2013 Cash 1500
Service Income 1500
July 10,2013 Cash 700
Note payable 700
July 20,2013 Account Receivable 2000
Service Income 2000
July 31,2013 Salary wage Expense 500
Utilities Expense 300
Supplies Expense 100
Cash 900
July 31,2013 Owners Withdrawal 1000
Cash 1000
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Account Title: Cash
Date Debit Credit Balance
July 1,2013 11000 11000
July 2,2013 800 10200
July 4,2013 1500 11700
July 10,2013 700 12400
July 31,2013 900 11500
July 31,2013 1000 10500
Account Title: Account Receivable
Date Debit Credit Balance
July 20,2013 2000 2000
Account Title: Equipment
Date Debit Credit Balance
July 3,2013 3000 3000
Account Title: Account Payable
Date Debit Credit Balance
July 3,2013 3000 3000
Account Title: Note Payable
Date Debit Credit Balance
July 10,2013 700 700
Account Title: Investment Capital
Date Debit Credit Balance
July 1,2013 11000 11000
July 31,2013 1000 10000
Account Title: Service Income
Date Debit Credit Balance
July 4,2013 1500 1500
July 20,2013 2000 3500
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Account Title: Salary Wage Expense
Date Debit Credit Balance
July 31,2013 500 500
Account Title: Utility Expense
Date Debit Credit Balance
July 31,2013 300 300
Account Title: Supplies Expense
Date Debit Credit Balance
July 31,2013 100 100
Account Title: Rent Expense
Date Debit Credit Balance
July 2,2013 800 800
Trial Balance
July 31,2013
Description Debit Credit
Cash 10500
Account receivable 2000
Equipment 3000
Account payable 3000
Note Payable 700
Capital 10000
Service income 3500
Salary wage Expense 500
Utilities expense 300
Supplies expense 100
Rent Expense 800
17200 17200
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Daniel Repair& Maintenance Work Shop
Income Statement
July 31,2013
Description
Revenue
Delivery fees 3,500
Expenses
Wages expense 500
Utilities expense 300
Supplies expense 100
Rent expense 800
Total expenses 1,700
Net income 1,800
Daniel Repair& Maintenance Work Shop
Balance Sheet
July 31,2013
Assets
Cash 10500
Account receivable 2000
Equipment 3000
Total Assets 15500
Liabilities
Account payable 3000
Note Payable 700
Total Liabilities 3700
Capital
Daniel Capital 10000
Add: Net Income 1800
Daniel Capital 11800
Total Liability Capital 15500
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Cash Flow Statement
July 31,2013
Beginning Cash Balance July 1,2020 11000
Add: Cash Inflow
From bank loan 700
From Sales 1500
Total cash inflow 2200
Less: Cash Out Flow
Administrative Expense 1700
Owner Withdrawal 1000
Total Cash Out flow 2700
Ending Cash Balance July31,2013 10500
Case study-2:
Journal Page No J .1
Date Journal Entries Debit Credit
October
1,2013 Rent Expense 2500
Cash 2500
October Advertising
3,2013 Expense 1100
Cash 1100
October
4,2013 Supplies 725
Cash 725
October Office
6,2013 equipment 7500
Account
Payable 7500
October
10,2013 Cash 3600
Account
Receivable 3600
October Account
12,2013 Payable 600
Cash 600
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October Owners
20,2013 Withdrawal 1000
Cash 1000
October
27,2013 Equipment 500
Cash 500
October Telephone
30,2013 Utility Expense 195
Cash 195
October Account
31,2013 Receivable 20150
Fees Earned 20150
October
31,2013 Utility Expense 315
Cash 315
Account Title:
Cash
Date Debit Credit Balance
October
1,2013 2500
October
3,2013 1100
October
4,2013 725
October
10,2013 3600
October
12,2013 600
October
20,2013 1000
October
27,2013 500
October
30,2013 195
October
31,2013 315
3600 6935
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Account Title: Account
Receivable
Date Debit Credit Balance
October
10,2013 3600
October
31,2013 20150 20150
Account Title: Prepaid Rent
Date Debit Credit Balance
October
1,2013 2500 2500
Account Title: Office Equipment
Date Debit Credit Balance
October
6,2013 7500 7500
Account Title: Account Payable
Date Debit Credit Balance
October
6,2013 7500 7500
October
12,2013 600 6900
Account Title:
Capital
Date Debit Credit Balance
October
20,2013 1000 1000
Account Title: Repair &ment. of
Office Equipment
Date Debit Credit Balance
October
27,2013 500 500
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Account Title:
Telephone Utility
Expense
Date Debit Credit Balance
October
30,2013 195 195
Account Title: Advertising Expense
Date Debit Credit Balance
October
3,2013 1100 1100
Account Title: Utility expense
Date Debit Credit Balance
October
31,2013 315 315
Account Title: Supplies Expense
Date Debit Credit Balance
October
4,2013 725 725
Account Title: Fees Earning
Date Debit Credit Balance
October
31,2013 20150 20150
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Boa R & M Co.
Trial Balance
October 31,2013
Description Debit Credit
Cash 3600 6935
Account Receivable 20150 3600
Prepaid rent 2500
Office Equipment 7500
Account payable 6900
Capital 1000
Repair &maintenance of Office Equipment 500
Telephone Utilities expense 195
Advertising Expense 1100
Electric expense 315
Supplies Expense 725
Fees Earning 20150
37585 37585
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