PART-I- Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance (20 Marks).
Abreham Zeleke practices medicine under the business title Abreham, M. D. During July 2020, the
medical practice completed the following transactions:
July 1 Abreham contributed Br.63,000 cash to the business in exchange for common stock.
5 Paid monthly rent on medical equipment, Br.510.
9 Paid Br.23,000 cash to purchase land to be used in operations.
10 Purchased office supplies on account, Br.1,600.
19 Borrowed Br.22,000 from the bank for business use.
22 Paid Br.1,100 on account.
28 The business received a bill for advertising in the daily newspaper to be paid in
August, Br.240.
31 Revenues earned during the month included Br.6,400 cash and Br.6,000 on account.
31 Paid employees’ salaries Br.2,200, office rent Br.1,900, and utilities Br.560.
31 The business received Br.1,120 for medical screening services to be performed next
month
31 Paid cash dividends of Br.7,200.
For your information; The business uses the following accounts: Cash; Accounts Receivable;
Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes
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Payable; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; Utilities
Expense; and Advertising Expense.
Requirements
1. Journalize each transaction. Explanations are not required (5 Marks).
2. Post the journal entries to the T-accounts (ledger accounts) . Label the balance of each
account Bal.(5 marks)
3. Prepare the trial balance of Abrham Zeleke, M. D., as of July 31, 2018. (10 marks)

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

2. the external environment (connect)choose whether each example belongs in the general, task, or internal environment.exampleenvironmenta worldwide recession task environment / general environment / internal environmentlocal mothers asking their community grocery store to carry no-salt cheerios-type cereal for their babies task environment / general environment / internal environmentchoose the phrase that best completes the following sentence.the relationship between the task environment and the general environment is best described as: a one-way system: changes in the task environment affect the general environment, but changes in the general environment do not affect the task environment.an open system: changes in the task environment affect the general environment, and changes in the general environment affect the task environment.a one-way system: changes in the general environment affect the task environment, but changes in the task environment do not affect the general environment.a closed system: changes in the general environment do not affect the task environment, and changes in the task environment do not affect the general environment.©bloomberg via getty imagesmanagement in the newsin april 2010, the explosion of british petroleum’s (bp) deepwater horizon oil drilling rig and the accompanying oil spill dramatically changed the external environment in which all oil companies operate. the explosion released more oil than any other accidental spill in history and had a huge impact on the waters and surrounding communities of the gulf coast. the conditions that led to the spill, the attempts to stop the spill, and the clean-up and aftermath of the spill prompted debates in the u.s. senate, concern on wall street, and attention from companies all over the world.match each oil spill event with a specific dimension of the general environment.eventgeneral environment dimensionbp stock prices falling 25% during the first month after the oil spill oil seeping into pelican nesting grounds, which will place the brown pelican back on the endangered species list people moving from louisiana to oklahoma to avoid the effects of the spill

An outside supplier has offered to sell talbot similar wheels for $1.25 per wheel. if the wheels are purchased from the outside supplier, $15,000 of annual fixed overhead could be avoided and the facilities now being used could be rented to another company for $45,000 per year. direct labor is a variable cost. if talbot chooses to buy the wheel from the outside supplier, then annual net operating income would: