Name: Nguyen Thi Tien Tien

Instructions:

- This is an open book assignment.  

- You need to use the provided worksheet downloaded from Canvas with y

- You have 75 minutes to work on this assignment, including the submission

- The completed worksheet needs to be submitted to Canvas before the time

submissions are allowed. However, we apply the penalty of 5 points for each m

- During the exam, you are required to turn ON your CAMERA and MIC. You
to not get distracted. We apply the penalty of 5 points for each minute of cam

- We have 01 Breakout Room for questions during the exam. You can you th

question(s) then we will join the breakout room to assist you. 

Tips for Excel:

For example: To Add all values in column A, from A1 to A15 use function
"=SUM(A1:A15)". You will not be able to drag the cells due to locked cells in be
Instead, select cell A1, then press and hold  SHIFT and click  on cell A15.
ded from Canvas with your name on it.  

cluding the submission time.  

Canvas before the time ends. Multiple submissions and late

y of 5 points for each minute of late submissions.  

CAMERA and MIC. You should also turn down your speaker volume
for each minute of camera and mic turning off. 

e exam. You can you the chat box to let us know when you have
t you. 

A15 use function

due to locked cells in between.
lick  on cell A15.
No. Date Account Debit
1 1-Apr Prepaid rent 4,500
Cash

2 2-Apr Office supplies 1,000

Account payable

3 3-Apr Wage payable 2,000

Cash

4 4-Apr Cash 50,000

Common stock
Contributed Equity

5 5-Apr Cash 3,000

Unearned revenue

6 6-Apr Cash 1,000

Account receivable

7 10-Apr Advertise expense 550

Cash

8 15-Apr Cash 10,000

Debt (current)

9 18-Apr Office supplies 800

Cash
10 20-Apr Prepaid insurance 1,800
Cash

11 24-Apr Account payable 1,000

Cash

12 24-Apr Account receivable 1,150

Revenue

13 30-Apr Cash 3,295

Revenue
Revenue

14 30-Apr Utilities expense 300

Cash

15 30-Apr Cash 1,127

Sales discount 23
Account receivable

3a- 16 30-Apr Interest expense 25

Interest payable

3b - 17 30-Apr Depreciation expense 100

Accumulated depreciation

3c - 18 30-Apr Wages expense 2,100

Wages payable
3d -19 30-Apr Rental expense 750
Prepaid rent

3e -20 30-Apr Unearned revenue 500

Revenue

3f -21 30-Apr Supplies expense 500

Supplies

3g -22 30-Apr Bad dept expense 44

Allowance for doubtful account

3h - 23 30-Apr Tax expense -

Tax payable

Closing
entries- 24 30-Apr Revenue 4,945
Revenue deduction
Expense
Retained earning
Credit

4,500

1,000

2,000

20,000
30,000

3,000

1,000

550

10,000

800
1,800

1,000

1,150

3,295

300

1,150

25

100

2,100
 750

500

500

44

111

23
4,480
442
 Cash & Cash Equivalents Account Receivables

Dr Cr Dr Cr

Opening Balance $ 7,568 $ 2,452

Transactions (April 2021)

No. Date
1 $ 4,500
2
3 $ 2,000
4 $ 50,000
5 $ 3,000
6 $ 1,000 $ 1,000
7 $ 550
8 $ 10,000
9 $ 800
10 $ 1,800
11 $ 1,000
12 $ 1,150
13 $ 3,295
14 $ 300
15 $ 1,127 $ 1,150
16
17
18
19
20
21
22
23
24

Closing Balance (30/04/2021) $ 65,040 $ 1,452

 Assets
Allowance for doubtful acc. Prepaid Rent Prepaid Insurance

Dr Cr Dr Cr Dr Cr

$ 3,000 $ 1,200

$ 4,500

$ 1,800

$ 750

$ 44

$ 44 $ 6,750 $ 3,000
ssets
Office Supplies Other Current Assets PPE (at cost)

Dr Cr Dr Cr Dr Cr

$ 800 $ 2,400

$ 1,000

$ 800

$ 500

$ 2,100 $ - $ 2,400
Accumulated depreciation Other Non-Current Assets Account Payables

Dr Cr Dr Cr Dr Cr

$ 600 $ 300

$ 1,000

$ 1,000

$ 100

$ 700 $ - $ 300
 Liabilities
Tax Payable Wages Payable Current Debt Interest Payable

Dr Cr Dr Cr Dr Cr Dr

$ 2,000

$ 2,000

$ 10,000

$ 2,100

$ 111

$ 111 $ 2,100 $ 10,000

Interest Payable Other Current Liabilities Contributed Equity
Retained earnings
Cr Dr Cr Dr Cr Dr

$ 955 $ 12,000

$ 50,000
$ 3,000

$ 25

$ 500

$ 25 $ 3,455 $ 62,000
 Equity
Retained Profits/Losses
Retained earnings Service Revenues Services deduction Expenses
Cr Dr Cr Dr Cr Dr

$ 1,565

$ 550

$ 1,150
$ 3,295
$ 300
$ 23
$ 25
$ 100
$ 2,100
$ 750
$ 500
$ 500
$ 44
$ 111
$ 442 $ 4,945 $ 23

$ 2,007 $ - $ - $ -
Closing Ret. Earnings =
Expenses
Cr

$ 4,480

$ 2,007
 Nguyen & Tran Co.
Trial balance
As at 30/04/2021

Debit Credit
$ $
Cash and Cash Equivalents 65,040
Account Receivables 1,452
Allowance for doubtful account 44
Prepaid Rent 6,750
Prepaid Insurance 3,000
Office Supplies 2,100
PPE 2,400
Accumulated Depreciation 700
Other Non-current assets -
Account Payables 300
Tax Payable 111
Wages Payable 2,100
Debt (Current) 10,000
Interest Payable 25
Other Current Liabilities 3,455
Contributed equity 62,000
Retained earnings 2,007
Service Revenue 4,945
Service deduction 23
Supplies Expense 500
Wage Expenses 2,100
Rent Expenses 750
Depreciation Expenses 100
Utilities Expenses 300
Finance expenses 25
Bad debt expense 44
Advertising expense 550
Taxation Expenses 111
SUM 80,742 80,742
 Nguyen & Tran Co.
Balance Sheet
As at 30/04/2021

$
Current Assets
Cash and Cash Equivalents 65,040

Account Receivale 1,452

Allowance for Doubtful Account 44

Prepaid Rent 6,750
Prepaid Insurance 3,000
Office supplies 2,100
Total Current Assets 78,298
Non-Current Assets
PPE 2,400
Accumulated sepreciation 700
Other Non Current Assets -
Total Non-Current Assets 1,700
Total Assets 79,998

Current Liabilities
Account Payables 300
Tax Payable 111
Wages Payable 2,100
Debt (Current) 10,000
Interest Payable 25
Other Current Liabilities 3,455
Total Current Liabilities 15,991

Non-current liabilities

Total Non-Current Liabilities

Total Liabilities 15,991

Net Assets

Shareholders Equity
Contributed equity 62,000
Retained Profits/Losses 2,007
Total Shareholders Equity 64,007
Total Liabilities and Shareholders Equity 79,998
 Company Name
Income Statement
For the period ending DD/MM/YYYY

Service Revenue
Service deduction
Total Revenue

Wage Expenses
Rent Expenses
Depreciation Expenses
Utilities Expenses
Bad Debt expenses
Finance costs
Supplies Expense
Advertising Expense
Total Expenses

Profit before tax

Taxation Expenses
Net profit after tax