 COC Package

ለበለጠ የትምህርት እና የመማሪያ ቁሳቁስ እና የ COC

ጥያቄ ከዝርዝር ማብራሪያ ጋር ለማግኘት የቴሌግራም
ቻናላችንን ይቀላቀሉ ::
t.meAccounting_finanace_class

Sep, 2023
PROJECT ONE A: - PROGRESS PAYROLL
XYZ COMPANY
PAYROLL REGESTER /SHEET

N Name of Basic Over Gross Income pension Total Net

o employees salary time earning tax deduction Pay
1 TIRUSEW 2067.5
2 NIGATU 2379
3 GETASEW 943.5
4 YEMARIAM 155.4
5 NITSUH
6 TOTAL

Additional information
 TIRUSEW and NIGATU have paid same income tax for the month
 TIRUSEW pension contribution is 22.64% of her income tax
 The total employer pension contribution of NITSUH is equal to YEMARIAM
pension contribution
 GETASEW pension contribution is 28.74% of his income
 Pension contribution of employer and employees are 11% and 7%
Task 1.1 Finalizes the Incomplete Payroll Register Sheet
Task 1.2 if salary is paid in may (next month) journalize
A. salary and other benefit
B. payment of liabilities and
C. payroll tax of company pension contribution
PROJECT ONE B
Given: - different professions their name and other employment information
regarding their data for the month of April 2013.
S. Employees Basic over Gross Income Pension Total Net
N name salary time Earning tax Deduct pay
1 TIRUSEW 735
2 NIGATU 2379
3 GETASEW
4 YEMARIAM 155.4
5 NISTUH

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 1

Additional information
1, TIRUSEW and NIGATU have the same paid income tax for the month
2, GETASEW pension contribution is 150% of TIRUSEW pension contribution
3, the total (employer and employees) pension contribution of NISTUH is equal
to that of YEMERIAM pension contribution
4. Pension contribution is 7% by employee and 11% by employer
PROJECT TWO A. PREPARE FINANCIAL REPORTS
Cash 14190
Fees receivables
Prepaid insurance 3725
Supplies 675
Pre-paid advertising 1000
Salary payable
Unearned rent
Income summary
Fees earned 62250
Salaries expense 41700
Advertising expense 10340
Supplies expense
Insurance expense
Rent income 9100
Data need for the year end adjustment is as follows
 Unbilled fees on June30 birr 7750
 Insurance expired during the year birr 2100
 Supplies inventory on 30,birr 190
 Of the pre-payment if birr 1000 advertising in Ethiopian Herald
newspaper 75% has been used
 Salary accrued is birr 1140
 Rent in advance that will not be earned birr 700
Task 2.1 journalize the necessary Adjustment
Task 2.2 prepare income statement and balance sheet

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 2

PROJECT TWO B
Fees receivables
Prepaid insurance 3725
Supplies 675
Pre-paid advertising 1000
Salary payable
Unearned rent
Income summary
Fees earned 62250
Salaries expense 41700
Advertising expense 10340
Supplies expense
Insurance expense
Rent income 9100
Data need for the year end adjustment is as follows
 Unbilled fees on June30 birr 7750
 Insurance expired during the year birr 2100
 Supplies inventory on 30,birr 190
 Of the pre-payment if birr 1000 advertising in Ethiopian Herald
newspaper 75% has been used
 Salary accrued is birr 1140
 Rent in advance that will not be earned birr 700
Task 2.1 journalize the necessary Adjustment
Task 2.2 prepare income statement and balance sheet
PROJECT TWO C.
Cash 9280
Fees receivables 48,310
Prepaid insurance 3725
Supplies 675
Pre-paid advertising 3000
Salary payable 31,500
Unearned rent -
Income summary -
Fees earned 64,250
Salaries expense 31,500

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 3

 Advertising expense 11,560
Supplies expense -
Insurance expense -
Rent income 12,300
Data need for the year end adjustment is as follows
 Unbilled fees on June30 birr 9750
 Insurance expired during the year birr 2100
 Supplies inventory on 30,birr 190
 Of the pre-payment if birr 3000 advertising 2100 has been used
 Salary accrued is birr 6340
 Rent collected in advance that will not be earned birr 1200
Task 2.1 prepare the necessary journal entries
Task 2.2 prepare profit and loss statement and balance sheet
PROJECT THREE: - PREPARE OPERATIONAL BUDGET
KALITY steel factory- manufactures two products A and B
Product A Product B
Describe inventory ending for each month 20000 10000
Established beginning inventory for January 21000 9000
Selling price per unit 50 70
 Estimated sales unit
Product JANUARY FEBRUARY MARCH TOTAL
Area A 6500 6900 6600 20000
1 B 1950 1500 1500 4950
Area2 A 2500 3000 4500 10000
B 500 600 1500 2600

 For the production of A and B kiltie steel factory uses the following raw
material
Materials Unit cost A B
Sand 0.5 20 kilogram 15k.g/unit
Steel 1 10kilogram 15k.g/unit
Chemical 5 10litter 15litter /unit
Task 3.1prepare sales budget for the current quarter
Task 3.2prepare production budget for current quarter
Task 3.3 prepare raw material purchase budget for current quarter

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 4

PROJECT FOUR BANK RECONCILIATION
Printer corporation employees the voucher system in controlling expenditures
and disbursements all cash receipts are deposited each Wednesday & Friday in
night depository after bank hours. Various document and records and are
reproduced as follows.
1. CASH IN BANK ACCOUNT
Balance as of april1--------------------------------------7817.40
CASH RECIEPTS JOURNAL
Total cash in bank debt column for April -----------7829.58
2. DUPLICATEDEPOSIT TICKETS Data and amount of each issued in April
Data Amount Date Amount Date Amount
April 1 848.63 April 10 971.71 Aprill22 897.34
Aprill3 914.04 April 15 957.85 Aprill24 942.71
Aprill8 840.5 April 17 946.74 Aprill29 510.06
3. CHECK REGISTER :- Number and amount of each check issued in April
Check No Amount Check no Amount check no amount
740 287.50 747 void 754 249.75
741 555.15 748 490.90 755 172.75
742 501.90 749 640.13 756 113.95
743 671.30 750 376.77 757 907.95
744 506.88 751 299.37 758 359.60
745 117.25 752 537.01 759 601.50
746 298.66 753 380.95 760 486.39
Total amount of checks issued in April 8555.66
4. APRIL BANK STATMENT
Balance as of aprill1 7947.20
Deposits and other credits 10562.77
Checks and other debits (8232.21)
Balance as of April 30 10,367.76
5. DATE AND AMOUNT OF EACH DPOSIT IN APRIL
Date Amount Date Amount Date Amount
April1 690.25 april9 840.5 april18 946.74
April2 848.63 april11 971.71 april23 897.34
April4 914.04 aprill16 975.85 april25 942.71
6. Checking accompanying April bank statement , Name and amount of each
check rearranged in numerical

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 5

 Check no amount check no amount check no amount
731 162.15 744 506.88 751 299.37
738 251.4 745 117.25 752 537.01
739 60.55 746 298.66 753 380.95
740 287.5 748 490.90 754 249.75
741 555.15 749 640.13 756 113.95
742 501.90 750 376.77 757 907.95
743 671.30 760 486.39
7. BANK MEMORANDOMS ACCOMPNYIGY APRIL BANK STATEMENT
Date description and amount of each memorandum.
Date description amount
April 4 bank credit memo from note collected
Principal › 2500
Interest 125
April 24 bank debit memo for each check returned because of
Insufficient fund 311.80
April 30 bank debit memo service changes 24.50
8. BANK RECONCILATION FOR PRECEDING MONTH
PRINTER CORPORATION
BANK RECONCILATION
MARCH 31,2015
Balance per bank statement 7947.20
+deposit for march 31, not recorded by bank 690.25
Deduct outstanding check
No. 731 162.15
No. 736 345.95
No. 738 251.40
No. 739 60.55------(820.05)
Adjusted balance 7817.40
Balance per depositor 7832.50
deducted service charge (15.10)

adjusted balance 7817.40

Task4.1. prepare bank reconciliation for the month of April 30, 2015
Task4.2. record the necessary journal entries

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 6

PROJECT FIVE፡ JOB ORDER COSTING
1. Material purchase on account
Sand 500
Steel 790
Chemical 4500
2. direct material issued &factory labor cost
Material direct labor cost
Job#1 277.5 160
Job#2 780 210
Job#3 3900 175
3. factory overhead is 60% of direct labor cost
4. finished goods sold for birr 7200
Task5.1. Record journal entries
Task 5.2 calculate each job cost
Task 5.3 calculate gross profit
PROJECT SIX A
The following were selected from amount the transaction completed by DATA a
vat register merchandising from during January of the current year
1. received cash from sales of furniture br. 250000
2. paid entertainment expense br. 5000
3. purchase raw material for br. 49000 for cash
4. paid utility expense br. 20000
5. sales of furniture on account br. 80000
6. paid salary expense br. 28000
7. paid supplies expense br. 20000
8. doubtful account expense br. 8000

Task6.1. record the necessary journal entries related to transactions

Task6.2. determine the amount of VAT payable/receivable from/to ERCA

Task6.3. prepare income statement for the month of January for tax purpose
and calculate profit tax liability (business profit tax is 30%)

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 7

PROJECT SIX B

The following were selected from amount the transaction completed by DATA a
vat register merchandising from during January of the current year

1. received cash from sales of furniture br. 300000

2. paid entertainment expense br. 6000
3. purchase raw material for br. 50000 for cash
4. paid salary expense br. 50000
5. sales of Office Equipment on account br. 90000
6. paid utility expense br. 30000
7. Supplies expense during the month br. 25000
8. Doubtful Account Expense For The Period br. 10000
Task6.1. record the necessary journal entries related to transactions
Task6.2. determine the amount of VAT payable/receivable from/to ERCA
Task6.3. prepare income statement for the month of January for tax purpose
and calculate profit tax liability (business profit tax is 30%)
PROJECT SEVEN
Fir tax manufacturing is the following information in relation to commodity
July inventory 15 unit @ 30
July for sales 5unit @ 35
July 10 purchase 10 units @ 32
July 11 sales 12 unit @ 39
July 22 sales 3 unit @ 40
July 30 purchase 10 units @ 33
Task 7.1 if the company used perpetual inventory system & FIFO costing
method
A. determine cost of goods sold
B. determine ending inventory on hand at the end of year
C. determine amount of gross profit
Task 7.2 if the company used periodic system & LIFO costing method
A. profit determine cost of goods sold

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 8

 B. determine ending inventory on hand at the end of year
C. determine amount of gross profit

Prepared by instr. BINIYAM

For COC training purpose contact
Me phone No: +251945240346
E-mail address: [email protected]

IF IT’S FEEL GOOD JUST DO IT!!!!!!!! Page 9