Question

Individual Assiment Journalize the following tran- 1. Ato yimer took Birr 450,000 from his personal savings and deposited it i ansport. y 2. Bati Transport purchased two used trucks for Birr 150,000 each, on cash.. ary 4. Bati Transport received a check for Birr 650 for services given to Alem Trading. mary 4, Received an invoice for truck expenses Birr 90. uary 11. Paid Birr 600 for Awash Insurance Company to buy an insuran trucks. nuary 16. Ato Yimer issued a check for Birr 9,400 to the workers as a salary for two weeks. anuary 20. Bati trading Billed Muradu Supermarket for goods transported from Djibouti to Gondar Birr 7,550 aanuary 21. Ato Yimer wrote a check for birr 450 to have one of the trucks repainte nuary 21. Bati trading purchased stationary materials and other supplies of Birr account muary 22. Office equipment of Birr 11,600 is bought on account. nuary 23. Purchased an additional truck for Birr 250,000 paying birr 100,000 in and issuing a note for the difference. uary 23. Recorded services billed to customers on account birr 14,600. muary 25. Received cash from customers on account Birr 15,000. ary 27. The owner withdrew Birr 500 in cash for his personal use. ary 28. Paid Birr 9,400 to workers as a salary for the last two weeks of the mary 30. Paid telephone expense of Birr 95 and electric expenses of Birr 12 month. ary 30. Paid other miscellaneous expenses Birr 50. ary 31. Paid Birr 4,000 as a rent or a building used for office space.​

Answer 1

Here is the journalized version of the transactions:

January 4:

Cash (150,000 x 2) + 300,000

Trucks 300,000

January 4:

Cash 650

Service revenue 650

January 5:

Truck expenses 90

Cash 90

January 11:

Insurance expense 600

Cash 600

January 16:

Salaries expense 9,400

Cash 9,400

January 20:

Accounts Receivable 7,550

Service revenue 7,550

January 21:

Repairs expense 450

Cash 450

January 21:

Office supplies expense xxx

Accounts Payable xxx

January 22:

Office equipment xxx

Accounts Payable xxx

January 23:

Trucks 250,000

Notes Payable 150,000

Cash 100,000

January 23:

Service revenue 14,600

Accounts Receivable 14,600

January 25:

Accounts Receivable 15,000

Cash 15,000

January 27:

Owner's Drawing 500

Cash 500

January 28:

Salaries expense 9,400

Cash 9,400

January 30:

Telephone expense 95

Electricity expense 12

Miscellaneous expense 50

Cash 157

January 30:

Rent expense 4,000

Cash 4,000