DATE TRANSACTION DESCRIPTION

1/4/2023 received money from my parents for 1,500,000vnd in cash

1/5/2023 bought lipstick for 250,000,vnd in cash
pay for bus fare in Jan for 100,000vnd in cash
pay for phone card for 100,000vnd in cash
1/6/2023 bought things on Shopee for 70,000vnd in cash
1/8/2023 pay for eating with friend for 280,000vnd in cash
1/10/2023 pay for entertainment for 240,000vnd in cash
1/11/2023 received money from my parents for 1,500,000vnd in cash
1/12/2023 bought clothes for 355,000vnd in cash
1/13/2023 received money from my brother for 300,000vnd in cash
1/14/2023 bought milk tea in Treevings for 65,000vnd in cash
bought T-shirts for 230,000vnd in cash
1/16/2023 bought food for 60,000vnd in cash
1/18/2023 received money from my father for 500,000vnd in cash
1/19/2023 bought home decorations for 400,000vnd in cash
pay for nail work for 400,000vnd in cash
1/20/2023 paying dinner with friends for 370,000vnd in cash
1/22/2023 Received Lucky Money for 4,000,000vnd in cash
1/23/2023 received Lucky Money for 2,000,000vnd in cash
1/25/2023 received Lucky Money for 1,000,000vnd in cash
1/26/2023 pay to play losing cards for 600,000vnd in cash
pay for going out for 210,000vnd in cash
1/28/2023 bought mom's birthday gift for 2,000,000vnd in cash
bought cake in Aeon mall Long Bien for 350,000vnd in cash
1/31/2023 pay for go to beauty (hair) for 200,000vnd in cash
Date Description debit credit
1/4/2023 cash 1,500,000
Revenue (money from parents) 1,500,000
1/5/2023 expense (bus fare, phone card, lip stick) 450,000
cash 450,000
1/6/2023 expense (things on shopee) 70,000
cash 70,000
1/8/2023 expense (food) 280,000
cash 280,000
1/10/2023 expense (entertainment) 240,000
cash 240,000
1/11/2023 cash 1,500,000
Revenue (money from parents) 1,500,000
1/12/2003 expense (clothes) 355,000
cash 355,000
1/13/2023 revenue (money from my brother) 300,000
cash 300,000
1/14/2023 cash 295,000
expense ( t-shirt and milk tea) 295,000
1/16/2023 cash 60,000
expense (food) 60,000
1/18/2023 revenue (money from my dad) 500,000
cash 500,000
1/19/2023 cash 800,000
expense (home decorations, nail ) 800,000
1/20/2023 cash 370,000
expense (dinner) 370,000
1/22/2023 revenue (lucky money) 4,000,000
cash 4,000,000
1/23/2023 revenue (lucky money) 2,000,000
cash 2,000,000
1/25/2023 revenue (lucky money) 1,000,000
cash 1,000,000
1/26/2023 cash 810,000
expense ( playing, going out) 810,000
1/28/2023 cash 2,350,000
expense (gift, cake) 2,350,000
1/31/2023 cash 200,000
expense (beauty) 200,000

total 17,080,000 17,080,000

ACCOUNT: Cash
date description debit credit balance
1/4/2023 received money from my parents 1,500,000 1,500,000
1/5/2023 bought lipstick 250,000 1,250,000
1/5/2023 pay for bus fare 100,000 1,150,000
1/5/2023 pay for phone card 100,000 1,050,000
1/6/2023 bought things on Shopee 70,000 980,000
1/8/2023 pay for eating with friend 280,000 700,000
1/10/2023 pay for entertainment 240,000 460,000
1/11/2023 received money from my parents 1,500,000 1,960,000
1/12/2023 bought clothes 355,000 1,605,000
1/13/2023 received money from my brother 300,000 1,905,000
1/14/2023 bought milk tea in Treevings 65,000 1,840,000
1/14/2023 bought T-shirts 230,000 1,610,000
1/15/2023 bought food 60,000 1,550,000
1/18/2023 received money from my father 500,000 2,050,000
1/19/2023 bought home decorations 400,000 1,650,000
1/19/2023 pay for nail work 400,000 1,250,000
1/20/2023 paying dinner with friends 370,000 880,000
1/22/2023 Received Lucky Money 4,000,000 4,880,000
1/22/2023 Received Lucky Money 2,000,000 6,880,000
1/22/2023 Received Lucky Money 1,000,000 7,880,000
1/26/2023 pay to play losing cards 600,000 7,280,000
1/26/2023 pay for going out 210,000 7,070,000
1/28/2023 bought mom's birthday gift 2,000,000 5,070,000
1/28/2023 bought cake in Aeon mall Long Bien 350,000 4,720,000
1/31/2023 pay for go to beauty (hair) 200,000 4,520,000
Account: Revenue
Date Description Debit Credit Balance
1/4/2023 Receive money from mother 1,500,000 1,500,000
1/11/2023 Receive money from mother 1,500,000 3,000,000
1/13/2023 Receive money from brother 300,000 3,300,000
1/18/2023 Receive money from father 500,000 3,800,000
22/01 - 25/01 Lucky money 7,000,000 10,800,000

Account: Expense
Date Description Debit Credit Balance
1/5/2023 bought lipstick 250,000 250,000
1/5/2023 pay for bus fare 100,000 350.00 ₫
1/5/2023 pay for phone card 100,000 450.00 ₫
1/6/2023 bought things on Shopee 70,000 520.00 ₫
1/8/2023 pay for eating with friend 280,000 800.00 ₫
1/10/2023 pay for entertainment 240,000 1,040.00 ₫
1/12/2023 bought clothes 355,000 1,395,000
1/14/2023 bought milk tea in Treevings 65,000 1,460,000
1/14/2023 bought T-shirts 230,000 1,690,000
1/15/2023 bought food 60,000 1,750,000
1/19/2023 bought home decorations 400,000 2,150,000
1/19/2023 pay for nail work 400,000 2,550,000
1/20/2023 paying dinner with friends 370,000 2,920,000
1/26/2023 pay to play losing cards 600,000 3,520,000
1/26/2023 pay for going out 210,000 3,730,000
1/28/2023 bought mom's birthday gift 2,000,000 5,730,000
1/28/2023 bought cake in Aeon mall Long Bien 350,000 6,080,000
1/31/2023 pay for go to beauty (hair) 200,000 6,280,000
 TRIAL BALANCE FROM MONTH END 31, JANUARY 2023

Unajusted trial balance Adjustment Adjusted trial balance

Account Debit Credit Debit Credit Debit Credit

Cash 4,520,000 4,520,000

Revenue 10,800,000 10,800,000
Expense
(Phone card) 100.00 ₫ 100.00 ₫
Expense
(Food) 710.00 ₫ 710.00 ₫
Expense
(Clothes) 585.00 ₫ 585.00 ₫
Expense (bus
fare) 100.00 ₫ 100.00 ₫
Expense ( milk
tea+cf) 65.00 ₫ 65.00 ₫
Expense
(things on
shopee) 70.00 ₫ 70.00 ₫
Expense (home
decorations) 400.00 ₫ 400.00 ₫
expense
(beauty) 600.00 ₫ 600.00 ₫
expense(gift) 2,350.00 ₫ 2,350.00 ₫
expense (play) 810.00 ₫ 810.00 ₫
Expense
(Entertainment) 240.00 ₫ 240.00 ₫
Expense
(lipstick) 250.00 ₫ 250.00 ₫

TOTAL 10,800,000 10,800,000 10,800,000 10,800,000

Income statement
Revenue
Total revenue 10,800,000 10,800,000
Expense
Total expense 6,280,000 6,280,000
Net Income
4,520,000
 The statement of cash flows

Statement of Cash Flows

Cash flow from operating
activities:
Cash from parent contributions 3,800,000

Cash from tet 7,000,000

Net cash provided by operating 10,800,000

activities
Cash flows from investing
activities:
Net cash used in investing 0
activities
Cash flows from financing
activities:
Net cash provided by financing 0
activities
Net increase in cash 4,520,000

Cash balance, jan 4, 2023 1,500,000

Cash balance, jan 31, 2023 6,020,000

 CLOSING ENTRIES FOR MONTH END 31 JANUARY, 2023
Date Description Debit Credit
1/31/2023 Revenue 10,800,000
Income Summary ( to close revenue account) 10,800,000
1/31/2023 Income Summary 6,280,000
Expense (Phone card) 100.00 ₫
Expense (Food) 710.00 ₫
Expense (Clothes) 585.00 ₫
Expense (bus fare) 100.00 ₫
Expense ( cf) 65.00 ₫
Expense (things on shopee) 70.00 ₫
Expense (home decorations) 400.00 ₫
expense (beauty) 600.00 ₫
expense(gift) 2,350.00 ₫
expense (play) 810.00 ₫
Expense (Entertainment) 240.00 ₫
Expense (lipstick) 250.00 ₫
1/31/2023 Income Summary 4,520,000
Retained Earnings 4,520,000
( to record the income summary to retained earnings)

Post-closing trial balance

Post-Closing Trial Balance

Cash 6,020,000
Account
0
Receivable
Account
0
payable
Hoai,
Contributed 1,500,000
Capital
Retained
4,520,000
earnings
Totals 6,020,000 6,020,000
 Shelf comment about your budget plan and how to improve next month
After completing the cost accounting from January, I was actually quite surprised. I spend money
on friend gatherings, parties, and shopping. This university costs a lot of money so I need to spend
more sparingly and my parents will have less financial pressure. Over the next month, I will initially
limit my purchases to personal preference. Secondly, I will buy home-cooked food, limit eating out
because it is both expensive and unsafe. Third, I will try to earn more from different revenues. I will
put 50% of my salary in a savings account next month. This will help me avoid overspending and
have a backup fund in case of illness, accident, etc.