No Name of Group Member ID Signature Section
1 UGR/3389/16 FOUR
RORISA TOLA
2 UGR/7369/16 FOUR
TESFAYE LEMI
3 UGR/8645/16 FOUR
TIBEBU SHIMELIS
4 UGR/ /16 FOUR
NEGASH SISAY
5 UGR//16 FOUR
MULETA NEGASA
6 FOUR
I) ANALYSIS OF TRANSACTIONS
NO NAME OF ACCOUNTS AFFECTED CLASSIFICATI EFFECT
ON
1 Cash Asset Increased by $ 20,000
Alemu Haba, Capital Capital Increased by $ 20,000
2 Furniture Asset Increased by $30,000
Alemu Haba, capital Capital Increased by $30,000
3 Supplies Asset Increased by $3000
Accounts payable Liability Increased by $3000
4 Fees earned (revenue) Revenue Increased by $20000
Cash Asset Increased by $20000
5 Advertisment expense Expense Increased by $3000
Cash Asset Decreased by$ 3000
6 None None None
None None None
7 Cash Asset Increased by $10000
Alemu Haba, capital Capital Increased by $10000
8 Accounts receivable Asset Increased by $15000
Fees earned Revenue Increased by $15000
9 Cash Asset Increased by $5000
Furniture Asset Decreased by $5000
10 Cash Asset Increased by $5000
Accounts receivable Asset Decreased by $5000
11 Accounts payable Liability Decreased by $2000
Cash Asset Decreased by $2000
12 Car Asset Increased by $8000
Cash Asset Decreased by $8000
13 Cash Asset Increased by $4000
Bank loan payable Liability Increased by $4000
14 None None None
None None None
15 Utility expense Expense Increased by $4500
Rent expense Expense Increased by $1200
Wage expense Expense Increased by $6000
Miscellaneous expense Expense Increased by $800
Cash Asset Decreased by $12500
16 Office supplies Asset Decreased by $1700
Supplies expense Expense Increased by $1700
17 Interest expense Expense Increased by $50
Cash Asset Decreased by $450
Bank loan payable Liability Decreased by $450
18 Alemu Haba, Drawing Capital Increased by $ 5,000
Cash Asset Decreased by $ 5,000
(BALANCE OF ACCOUNT) SUMMARY OF EFFECTS
TOTAL ASSET = 77350
.CASH= 20,000(1)+20,000(4)- 3,000(5)+10,000(7)+5,000(9+5,000(10)-2,000(11)-8,000(12)+4,000(13)-12,500(15)-
450(17)-5,000(18)=33,050
Furniture=30,000(2)-5,000(9)=25,000
Office Supplies=3,000(3)-1700(16)=1300
Accounts receivable=15,000(8)-5,000(10)=10,000
Car =8,000(12)
TOTAL LIABILITIES =4600
Accounts Payable=3,000(3)-2,000(11)=1000
Bank loan Payable=4,000(13)-400(17)=3,600
TOTAL OWNER'S EQUITY=72750
Fees Earned=20,000(4)+15,000(8)=35,000
Advertising Expense =3,000(5)
wage Expense =6,000(15)
Rent Expense =4,500(15)
Utilities Expense=1,200(15)
Miscellaneous Expense=800(15)
Supplies Expense =1700(16)
Interest Expense =50(17)
Alemu Haba, Drawing=5,000(18)
SO, ASSET= LIABILITY + OWNER'S EQUITY. ✓ 72750+4600=77350