Project one

Task 1.1

Fuel expense -----------------------150,000

Stationery expense -----------------10,000

Tire expense-------------------------5000

Medical expense------------------120,000

Cash at bank ------------------------------285000

1.2 cash at bank ---------------------285,000

Fund transfer--------------------------------285,000

Task 2

1,C,F 3,D,G

2,A 4, B,E

Project Two

Nehassie 12 prepaid ---------------------5000

Cash ----------------------------------------5000

12, Electric expense ----------------600

Telephone expense -----------300

Water expense -----------------300

Cash-------------------------------------------1200

15, account receivable------------------2000

Cash --------------------------------------2000

Vehicles repair--------------------------1950

Cash------------------------------------------50

A/R---------------------------------------------------------2000

20,cash at bank --------------------------20,000

Bid security payable-------------------------------------------20,000

21 perdium expense-------------------860

Gas oil expense --------------------------1910

Mis expense ---------------------------200

Petty e cash----------------------------------------------2970

Petty cash ----------------------2970

Cash at bank -----------------------2970

30, bid security payable--------------14000

Cash at bank -------------------------------------14000

Project three

Xyz international company

Income statement

For the month ended june 30,2009

Consulting fee---------------------------10500

Rent expense ----1500

Salary expense ----2000

Supplies expense ------100

Telephone expense-----200

Total expense -------------------------------(3800)

Net income --------------------------------6700

Task 2

Abebe and his family company

Income statement

For the month ended june 30,2009

Asset liability and capital

Cash ---------------6000 A/P----------------4000

A/R--------------3500 salary payable ------2000

Supplies---------2500 notes payable-------6500

Equipment ------7000 owner equity ----------11,000

Automobile--------4500

Total asset -------------23,500 total liab & cap--------23,500

Task 3

Transaction Debit Code Credit code

1 3,000 I 3,000 O
2 5,200 P 5,200 P
3 1,000 M 1,000 G
Project three

N name of basic hous over gross income credit total

O employee salary allo time earning tax pension ass deduction Net pay
 1 Asefu lemma   5000 500  500  6000  810 350  1750  2910  3090
 2 Giday hagos   650 100    750   5  41.50  150 200.50  549.50
 3  Marta alemu  2350  230  146.88  2496.88  2726.88  232.05 164.50   396.13 2330.84
 4 Kiflu kiflie   3600  400 675  4675   552.50 252     804.50 3870.50
 123
   Total  11600 0  1321.88  14151.88  1599.53  812 1900  4311.53  9840.34

Salary expense --------------14151.88

Credit association payable --------------------1900

Income tax payable----------------------------1599.53

Pension payable -------------------------------812

Net salary payable------------------------------9840.34

2, pension expense pension payable --------------------1276

Pension payable --------------------------------------------------------1276

3, net salary payable-------------------------------9840.34

Cash-------------------------------------------------------------------9840

Credit association payable----------------------1900

Cash-----------------------------------------------------------------1900

Income tax payable-------------------------------------------1599.53

Cash---------------------------------------------------------------------------1599.53

4, pension payable -----------------------------------1275

Cash---------------------------------------------------------------1275