BUSINESS ADMINISTRATION DEPARTMENT

PRINCIPLES OF ACCOUNTING – ACC101

INDIVIDUAL ASSIGNMENT

Student Name :
Student ID :
Class :
Lecturer :
Course :
Date :

1. My transactions in a month
- On June 1st : My parent gave 3,000,000 VND in cash
+ I bought 2 Thien Long pen for 11,000 VND in cash
- On June 2nd : I paid 260,800 VND in cash for buy fastfood and drink
+ I paid 29,000 VND in cash for drink
- On June 3rd : I paid 50,000 VND in cash for drink
 + I bought a new chair for 960,000 VND in cash
+ I received 1,500,000 VND in cash from tutoring
- On June 4th : I paid 55,000 VND in cash for drink
+ I paid 70,000 VND in cash for food
- On June 6th : I paid 70,000 VND in cash for my food and my friend
+ I bought drink and noodles for 85,300 VND in cash
- On June 8th : I paid 100,000 VND in cash for my food and personal items
- On June 9th : I paid 145,800 VND in cash for my drink and fastfood
+ I paid 103,400 VND in cash for my bread, noodles and snacks
+ I paid 102,000 VND in cash for my snacks
- On Jund 12th : I bought cookies and drinks for 124,800 VND in cash
+ I paid 44,000 VND for bread and tissue
- On June 16th : I bought bread and drinks for 102,500 VND in cash
- On June 18th : I paid 110,000 VND in cash for fruit
- On June 22nd : I paid 700,000 VND in cash for shirt and hat
+ I bought personal items for 120,900 VND in cash
- On June 25th : I paid 38,000 VND in cash for garbage bags
- On June 27th : I paid 40,000 VND for meal

A.c estimates that the chair has a useful life of 4 years and no salvage value.
 Depreciation:
 My chair: 960,000 / ( 4 x 12 ) = 20,000 VND / month

2. Record in general journal and ledger

2.1. General Journal

Date Description Debit Credit

Jun.1 Cash   3,000,000  
  Parent contribution revenue   3,000,000
  (Receive cash from mom)    
  Supplier expense   11,000  
  Cash   11,000
  (Buy pen)    
Jun.2 Food expense   260,800  
  Cash   260,800
  (Buy fastfood)    
Drink expense   29,000  
  Cash   29,000
  (Buy drink)    
Jun.3 Drink expense   50,000  
  Cash   50,000
  (Buy drink)    
 
Equipment expense 960,000 
Cash 960,000 
(Buy new chair)    
Revenue ( Salary ) 1,500,000
Cash 1,500,000
(Tutoring)
Jun.4 Drink expense   55,000  
  Cash   55,000
  (Buy Highland Coffee)    
Food expense   70,000  
  Cash   70,000
  (Pay for dinner)    
Jun.6 Food expense   70,000  
  Cash   70,000
  (Pay for my and my friend's food)    
Food expense 85,300
Cash 85,300
(Buy noodles)
Personal item
Jun.8 expense   100,000  
  Cash   100,000
  (Personal items)    
Jun.9 Food expense   100,000  
  Cash   100,000
  (Buy fastfood)  
Food expense 103,400 
Cash 103,400 
(Buy bread, noodles and snacks)
102,000
Food expense
102,000
Cash
(Buy snacks)
Jun.1
2 Food expense   124,800  
  Cash   124,800
  (Buy cookies)    
  Supplier expense   44,000  
  Cash   44,000
 

(Pay for tissue)    

Jun.1
6 Drink expense   102,500  
  Cash   102,500
(Pay for drink)

     
Jun.1
8 Fruit expense   110,000  
  Cash   110,000
  (Pay for Orange and Joy)    
Jun.2
2 Fashion expenses   700,000  
  Cash   700,000
  (Buy shirt and hat)    
Personal items
  expense   120,900  
  Cash   120,900
  (Pay for items)    
Jun.2 Garbage bags
5 expense   38,000  
  Cash   38,000
  (Buy Garbage bags)    
Jun.2
7 Food expense   40,000  
  Cash   40,000
  (Pay for meal)    
Depreciation expense
20,000
Accumulated Depreciation - Equip. 20,000
(Record monthly chair depreciation)

2.2 Ledger
Ledger
  Cash
  Date Debit Credit Balance
Jun.
  1 3,000,000   3,000,000
  1   11,000 2,989,000          
 260,80
  2   0 2,728,200 Parent gave cash  
  2   29,000  2,699,200 Date Debit Credit Balance  
Jun .
  3   50,000 2,649,200 1   3,.00,000 3,000,000  
3 960,000 1,689,200
3 3,500,000 5,189,200
  4   55,000  5,134,200    
  4   70,000  5,064,200          
  6   70,000 4,994,200 Depreciation expense - Equip  
  6    85,300 4,908,900 Date Debit Credit Balance  
 100,00 Jun .
  8 0 4,808,900 27 20,000   20,000  
  9   100,000 4,708,900    
  9    103,40 4,605,500          
 0
 102,00
  9   0 4,503,500 Food expense  
  12   124,800 4,378,700 Date Debit Credit Balance  
Jun .
  12   44,000 4,334,700 2 260,800   260,800  
 102,50
  16   0 4,232,200 4 70,000   330,800  
  18   110,000 4,122,200 6 70,000   400,800  
 700,00
  22   0 3,422,200 6 85,300   486,100  
 120,90
  22   0 3,301,300 9 100,000   586,100  
  25   38,000 3,263,300 9 103,400   689,500  
  27   40,000  3,223,300 9 102,000   791,500  
12 124,800 916,300
          27 40,000   956,300  

Equipment expense Drink expense

  Date Debit Credit Balance Date Debit Credit Balance  
Jun.
  3  960,000 960,000 Jun . 2 29,000   29,000  
        3 50,000   79,000  
Garbage bag
        4 55,000   134,000  
  Date Debit Credit Balance 16 102,500   236,500  
Jun.
  25  38,000    38,000          
        Revenue Account No. 688  
        Date Debit Credit Balance  
 1,500,00
        Jun. 3  1,500,000 0  
Fashion
expense
                 
  Date Debit Credit Balance Supplier expense  
Jun.
  22  700,000    700,000 Date Debit Credit Balance  
        Jun. 1 11,000   11,000  
Fruit expense
                 
  Date Debit Credit Balance Personal item expense  
  Jun.  110,000    110,000 Date Debit Credit Balance  
 18
        Jun . 8 100,000   100,000  
        12 44,000   144,000  
 120,90
          22 0    264,900  

3. Trial Balance
Trial Balance
Unadjusted Trial Adjusted Trial
Balance Adjusments Balance
No Accout Title Debit Credit Debit Credit Debit Credit
1 Cash 3,223,300 3,223,300
Accumulated
2 Depreciation - Equip. 0 20,000 20,000
Depreciation expense -
3 Equip. 0 20,000 20,000
4 Parent gave cash 3,000,000 3,000,000
5 Equipment expense 960,000 960,000
6 Drink expense 236,500 236,500
7 Garbage bags expense 38,000 38,000
8 Fashion expense 700,000 700,000
9 Fruit expense 110,000 110,000
10 Personal item expense 264,900 264,900
11 Supplier expense 11,000 11,000
12 Revenue 3,500,000 3,500,000
13 Food expense 956,300 956,300
Total 6,500,000 6,500,000 20,000 20,000 6,520,000 6,520,000

4. Income statement

Income statement
For month ended June 27, 2023
Revenue    
VND
Salary   3,500,000
Expenses    
Depreciation expense - VND  
 Equip. 20,000
Food expense 956,300  
Supplier expense 11,000  
Personal item expense 264,900  
Fruit expense 110,000  
Equipment expense 960,000
Drink expense 236,500
Garbage bags expense 38,000
Fashion expense 700,000  
3,296,7
Total expenses   00
VND
Net income   203,300
     

5. Statement of cash flow

Statement of Cash Flows

For month ended June 27, 2023
Cash flows from operating activities:    
VND
Salary 3,500,000  
Cash paid for food 956,300  
Cash paid for Supplier 11,000  
Cash paid for Personal item 264,900  
Cash paid for Fruit 110,000  
Cash paid for Drink 236,500
Cash paid for Garbage bags 38,000
Cash paid for Fashion 700,000
Cash paid for Equipment 960,000  
Net cash provided by operating VND
activities   223,300
Cash flows from investing activities   -  
Net cash used in investing activities  0
Cash flows from financing activities:    
Withdrawal by owner  
Net cash provided by financing
activities  
VND
Net increase in cash   223,300
 Cash balance, June 1, 2023   -
VND
Cash balance, June 28, 2023   223,300
     

My comment about budget plan and how to improve next month

With my budget plan in this month, It make me feel so satisfied because I know to spend on
necessities. I mainly use it to buy food, buy water, buy personal items, clothes, fruits, as well
as some other supplies. Those are all daily expenses and I also try to choose products that are
reasonably priced.
Therefore, at the end of the month, I have a small amount of money left over from my part-
time job and the money my parents gave me at the beginning of the month I don't need to
use. I wil save it for the next month.

So for the next month, I will try to save more money and work more hard as well as spending
more sparingly so that I can buy some more expensive and quality items or use when I’m in
bad case. In addition, next month I will make a specific budget for each necessary expense,
record my spending to avoid overspending and save the most, form a personal financial
management habit. I hope that with the above practices I can plan and manage the budget
more effectively. Moreover, If I can have enough money, I will organize to go to charity. I
know a lot of people having difficult circumstances, poverty and they need to our help. I
want to use my money to do meaningful work for my life, to see thit’s more wonderful.