Task 1: In January N, Rose Company has the following information: (Unit:

1.000 VND)
1. Salary payables in January N:
- Direct employees: 40.000
- Factory staffs: 2.000
- Administrative staffs: 10.000
Dr 622: 40.000
Dr 627: 2.000
Dr 642: 10.000
Cr 334: 52.000
2. Payroll related compensation is calculated according to prevail
regulations.
Company’s expenses:
Dr 622: 40.000 * 23,5% = 9.400
Dr 627: 2.000 * 23,5% = 470
Dr 642: 10.000 * 23,5% = 2.350
Cr 3382: 52.000 * 2% = 1.040
Cr 3383: 52.000 * 17,5% = 9.100
Cr 3384: 52.000 * 3% = 1.560
Cr 3386: 52.000 * 1% = 520
Deduct from payables to employees:
Dr 334: 52.000 * 10,5% = 5.460
Cr 3383: 52.000 * 8% = 4.160
Cr 3384: 52.000 * 1,5% = 780
Cr 3386: 52.000 * 1% = 520
3. Debit note No. 34 dated 31/1/2016: pay social insurance to authorities
(included payment on behalf of employees)
Dr 3383 / Cr 112: 9.100 + 4.160 = 13.260
4. Cash payment note No.65 dated 31/1/N: pay health insurance to
authorities (included payment on behalf of employees)
 Dr 3384 / Cr 111: 1.560 + 780 = 2.340
5. Debit note No.35 dated 31/1/N make payment to employees after
deducting all payroll related compensation.
Dr 334 / Cr 112: 52.000 - 5.460 = 46.540
Requirements:
1) Calculate and make journal entries for the above transactions?
2) Record the above transactions on Journal?

Task 2: In June N, TM company has the following information. (CU: 1,000d)

I. Beginning balance of some accounts are as follow:
- Acc 334 (Cr.): 30,000
- Acc 338 (Cr.): 12,000
In which: Acc 3382: 2,000;
Acc 3383: 6,000;
Acc 3384: 2,000;
Acc 3386: 2,000
II. Transactions incurred in June year N:
1. Debit note No.90 dated 1/6/N: make payment to authorities regarding
social insurance: 6,000, health insurance: 2.000; unemployment insurance:
2,000 and also withdraw cash at bank to cash treasury: 30,000
Dr 3383: 6.000
Dr 3384: 2.000
Dr 3386: 2.000
Dr 111: 30.000
Cr 112: 40.000
2. Payment note No.112 dated 2/6/N: Make salary payment to employees
for previous period: 27,000, the remaining is withheld due to employees’
absence.
Dr 334 / Cr 111: 27.000
3. Calculate salary payable incurred in the month:
- For direct labor: 600.000
 - For factory staff: equal to 5% on total direct labors’ salary
- Sale staffs: 20.000
- Administrative staffs equal to 3% on total direct labors’ salary
Dr 622: 600.000
Dr 627: 30.000 (=600.000 * 5%)
Dr 641: 20.000
Dr 642: 18.000 (=600.000 * 3%)
Cr 334: 668.000
4. Make payroll related compensation as regulated.
Company’s expenses:
Dr 622: 600.000 * 23,5% = 141.000
Dr 627: 30.000 * 23,5% = 7.050
Dr 641: 20.000 * 23,5% = 4.700
Dr 642: 18.000 * 23,5% = 4.230
Cr 3382: 668.000 * 2% = 13.360
Cr 3383: 668.000 * 17,5% = 116.900
Cr 3384: 668.000 * 3% = 20.040
Cr 3386: 668.000 * 1% = 6.680
Deduct from payables to employees:
Dr 334: 668.000 * 10,5% = 70.140
Cr 3383: 668.000 * 8% = 53.440
Cr 3384: 668.000 * 1,5% = 10.020
Cr 3386: 668.000 * 1% = 6.680
5. Debit note No.92 dated 30/6/N make payment to related authorities
Dr 3382: 668.000 * 1% = 6.680
Dr 3383: 116.900 + 53.440 = 170.340
Dr 3384: 20.040 + 10.020 = 30.060
Dr 3386: 6.680 + 6.680 = 13.360
Cr 112: 220.440
6. The following items should be deducted from employees’ payable:
 - Unspent advance: 10.000
- Compensation due to asset’s damage: 5.000
- Personal income tax: 12.500
Dr 334: 27.500
Cr 141: 10.000
Cr 138(8): 5.000
Cr 333(5): 12.500
7. Bonus based on KPI this month: for direct labour: 10.000, for factory
staffs: 4.000, for sale staffs: 1.000, and for administrative staffs: 5.000.
Dr 622: 10.000
Dr 627: 4.000
Dr 641: 1.000
Dr 642: 5.000
Cr 334: 20.000
8. Cash receipt notes No.103 dated 30/6/N, withdraw 700,000 from bank
account to cash treasury
Dr 111 / Cr 112: 700.000
9. Payment note No.08 dated 30/6/N. Make payment to employees:
- Salary: 60% salary payable after deducting related items; in which 10,000
is withheld due to employees’ absence
Dr 334 / Cr 111: 60% * (668.000 – 70.140 – 27.500) – 10.000 = …
- Payment for withheld amount in previous month: 3.000
Dr 334 / Cr 111: 3.000
- Make payment for all bonus
Dr 334 / Cr 111: 20.000
Requirement: Make journal entries and record in T accounts

Task 3: MINH NGOC company pays VAT using credit-invoice method. There
were below transactions incurred in company in December 2016: (CU: 1.000
VND):
I. Opening balance on 1/12/2016: Account 334 = 0 and Account 338 = 0
II. Transactions incurred in December 2016:
1. Calculating salary payable incurred in the month: For direct labor:
560.000, for factory staff: 210.000, sale staffs: 180.000, administrative staffs:
160.000
Dr 622: 560.000
Dr 627: 210.000
Dr 641: 180.000
Dr 642: 160.000
Cr 334: 1.110.000
2. Calculating payroll related compensation according to prevail
regulations.
Company’s expenses:
Dr 622: 560.000 * 23,5% = 131.600
Dr 627: 210.000 * 23,5% = 49.350
Dr 641: 180.000 * 23,5% = 42.300
Dr 642: 160.000 * 23,5% = 37.600
Cr 3382: 1.110.000 * 2% = 22.200
Cr 3383: 1.110.000 * 17,5% = 194.250
Cr 3384: 1.110.000 * 3% = 33.300
Cr 3386: 1.110.000 * 1% = 11.100
Deduct from payables to employees:
Dr 334: 1.110.000 * 10,5% = 116.550
Cr 3383: 1.110.000 * 8% = 88.800
Cr 3384: 1.110.000 * 1,5% = 16.650
Cr 3386: 1.110.000 * 1% = 11.100
3. Calculating bonus which was funded by Bonus fund, in which, for
direct labor: 40.000, administrative staffs: 55.000
Dr 353(1) / Cr 334: 95.000
4. Salary deduction due to unspent advances: 12.000, personal income
tax: 20.000
 Dr 334: 32.000
Cr 141: 12.000
Cr 333(5): 20.000
5. Payment of social insurance to employees due to sickness in
December: 28.000 in which, for direct labor: 10.000, for factory staff: 18.000
Dr 338(3) / Cr 334: 28.000
6. On 31/12/2016, making full payment of salary and allowances via
bank.
Dr 334 / Cr 112: 1.084.450 (=1.110.000-116.550+95.000-32.000+28.000)
Required:
1. Make journal entries for above transactions
2. Prepare General Ledger for Account 334 for December 2016

Employee:
Basic salary (Gross) – SHUI – PIT = Net amount

Social Insurance
Health Insurance
Unemployment Insurance

Personal Income Tax

Employer / Company
Basic salary (gross amount) + SHUI + Trade union fee = Labor Expense

Social Insurance: 25,5%: employee: 8%, employer: 17,5%

Health Insurance: 4,5%: employee: 1,5%, employer: 3%
Unemployment Insurance: 2%: employee: 1%, employer: 1%
Trade union fee: 2% employer
TOTAL employee: 10,5%
Employer: 23,5%

Salary used to calculate insurance