SET 1

QUESTION 1: (2 pts)
In an administrative and non-business unit, explain and give illustrative examples of calculating
the cost of raw materials purchased and how it differs when purchasing for business activities?

QUESTION 2: (2 pts)
Balance of assets and liabilities/net assets in a public unit as at 1, Jan, B: (1,000 VND)
Account 3371 38,000 Account 111 21,000 Account 334 20,000
Account 141 Y Account 112 50,000 Account 138 3,000
Account 152 85,000 Account 36611 4,600,000 Account 331 5,000
Account 153 Account 36612 95,000 Account 214 X
10,000
Account 211 11,000,000 Account 431 20,000 Account 333 2,000

Requirement: Find missing value X, Y and arrange those items in order of a balance sheet structure?

QUESTION 3: (2 pts)
In school A, for the year N, there are activities:
1. Received the approval of assigned budget estimates for the year 850,000
2. Withdrawal from budget estimates of 90,000 cash on hand and 760,000 cash at bank
3. Collected 80,000 tuition fees by cash on hand and deposited it into the State treasury
4. Calculating salary payable to employees 280,000
5. Calculating salary deductions based on current deduction regulations
6. Paid salary and deductions by cash at bank
7. Expenses for non-business activities 120,000 by cash at bank and 80,000 from direct withdrawal
8. In July, N, purchased the machinery for 380,000; useful life of 10 years, bank transfer
9. Purchased office supplies 80,000 and paid by cash on hand
Requirements: Making journal entries?

QUESTION 4: (2 pts)
From question 3, calculate the wear-out value and year-end adjustment entries for fixed
assets for the year N? At the end of year N+9, how to record if the school changes the function of
the machinery, uses as tools?

QUESTION 5: (2 pts)
From question 3:
1. Making year-end adjustments, given that closing balance of raw materials is 21,000?
2. Define Deficit/Surplus from non-business activities for the year N?

Note: Online test