Question

/FMA%20assignment%202%20(2).pdf 2 / 2 100% + + Part II Work out 15% 1. Feb The following are transactions done in the month of February 2023 by Alene Insurance Agency 1. Ato Alene transferred Br. 35,000 cash from his persona bank account to the account opened in name Alene Insurance Agency 5. Paid office rent Br. 1,200 10. purchased office equipment Br. 24,500 paying 15,000 cash and the remaining on account 14. Purchased office supplies for cash Br. 1,900 15. Received commission from Awash Insurance for services delivered Br. 10,800 21. Paid creditor the full amount owed for office Equipment purchased in Feb. 10 23. Recorded services done on account for customer Br. 28,000 26. Paid maintenance Expense for Printers Br. 750 28. Paid wages of Employees Br. 4,500 28. Withdrew cash from customers on Account Br. 2,000 Required: Journalize the above transactions using two-column General journal The following is the comparative financial statements of YonAB Company ​

Answer 1

Answer:

Here's the journalization of the transactions for Alene Insurance Agency for the month of February 2023:

| Date | Accounts | Debit (Br.) | Credit (Br.) |

|------|----------|-------------|--------------|

| Feb 1 | Cash; Alene, Capital | 35,000 | 35,000 |

| Feb 5 | Rent Expense | 1,200 | Cash |

| Feb 10 | Office Equipment | 24,500 | Cash |

| | Accounts Payable | 9,500 | |

| Feb 14 | Office Supplies | 1,900 | Cash |

| Feb 15 | Cash | 10,800 | Commission Revenue |

| Feb 21 | Accounts Payable | 15,000 | Cash |

| Feb 23 | Accounts Receivable | 28,000 | Service Revenue |

| Feb 26 | Maintenance Expense | 750 | Cash |

| Feb 28 | Wages Expense | 4,500 | Cash |

| | Accounts Receivable | 2,000 | Service Revenue |