ACC101 Individual Assignment

Individual assignment
SUBJECT: Principles of Accounting (ACC101)
Lecture: Nguyễn Thanh Huyền

Name: Đôn Hồng Đăng
ID: HS180756
Class: MKT 1823
Topic: Record your transactions for the month ended October 31,2023
PART 1: Analyze all transactions following steps of the accounting

cycle (record in General Journal and Ledger)
Identify transactions
Date Transaction
October 1 Received from parents 5.000.000 VND
October 1 Paid 29.800 VND for milk, 19.000 for cake,

13.000 for coffee
October 1 Paid 24.545 for cabbage
October 1 Paid 11.000 for cooking spices, 2.000 for a

teaspoon, 19.000 for a small knife, 20.000
for corn
October 1 Paid 14.000 for hand wash, 18.000 for

washing powder
October 1 Paid 19.000 for milk, 11.000 for snack
October 1 Paid 12.000 for vegetable, 15.000 for

noodle
October 1 Paid 123.000 for dumplings, 25.785 for

vegetable
October 1 Paid 31.350 for milk, 15.000 for snack
October 3 Paid 1.000.000 for clothes on Shopee
October 4 Paid 26.000 for milk
October 7 Paid 400.000 for cleanser
October 9 Paid 150.000 for cinema ticket
October 10 Borrow 200.000 from a friend
October 13 Paid 100.000 for fixing the motorbike
October 15 Paid 200.000 for friend from borrowing on

October 10
October 18 Paid 550.000 for a music festival ticket
October 20 Paid 73.000 for beef, 54.000 for sausage
October 20 Paid 87.000 for pork
October 20 Paid 50.000 for spring roll
October 20 Paid 80.560 for chicken, 25.500 for snack
October 20 Paid 53.650 for pork, 4.000 for kumquat,

29.920 for chicken, 7.200 for chillies
October 20 Paid 11.000 for milk, 8.000 for cake
October 21 Paid 54.000 for cooking oil, 26.000 for

tissue, 26.000 for cake
October 21 Paid 55.000 for cake
October 21 Paid 56.000 for chocolate, 115.000 for

snacks
October 21 Paid 180.000 for rice, 86.000 for soup,

7.400 for noodle
October 21 Paid 69.000 for pork bone, 10.900 for beer
October 21 Paid 15.600 for water, 35.000 for orange

juice, 31.000 for milk, 108.000 for cookie
October 22 Paid 60.000 for snack, 14.000 for elastic

hair tie, 62.000 for cake
October 22 Paid 16.000 for tissue, 168.000 for thermal

water tank
October 22 Paid 8.400 for tea

October 22 Paid 39.890 for vegetable
October 22 Paid 24.000 for toothpick
October 22 Paid 31.400 for tea and ice cream
October 24 Paid 300.000 for medicine
October 26 Lent a friend 500.000
October 27 Paid 100.000 for a book
October 28 Paid 400.000 for a new schoolbag
October 29 Received 500,000 from a friend for the

borrowing on October 26
October 30 Paid 400.000 for a new laptop charge
October 31 Received 2.000.000 salary from work
Depreciation:
- My laptop: (20.000.000-2.000.000)/(3 year x 12 month)= 500.000/month
- My phone: (12.000.000-0)/(4 year x 12 month)= 250.000/month
- My motorbike: (16.000.000-4.000.000)/(4 year x 12 month)=250.000/month
General Journal
Date Description Debit Credit
October 1 Cash 5.000.000

Family contributions 5.000.000
(Received cash from parents)
October 1 Food and drinks expense 61.800

Cash 61.800
(Paid for milk, cake and coffee)

Cash 24.545
(Bought cabbage)
October 1 Personal shopping expense 32.000

Cash 32.000
( Paid for daily shopping: cooking spices,
teaspoon, small knife)
Food and drinks expense 20.000

Cash 20.000
(Bought corn)

Cash 32.000
( Paid for daily shopping:handwash,
washing powder)

Cash 30.000
(Bought milk and snack)

Cash 27.000
(Bought vegetable and noodle)

Cash 148.785
(Bought vegetable and dumplings)

Cash 46.350
(Bought milk and snack)
October 3 Personal shopping expense 1.000.000

Cash 1.000.000
( Paid for clothes online shopping)

Cash 26.000
(Bought milk)

Cash 400.000
(Paid for cleanser)
October 9 Entertainment expense 150.000

Cash 150.000
(Paid for a cinema ticket)
October 10 Cash 200.000

Account payable 200.000
(Borrow money from a friend)
October 13 Miscellaneous expense 100.000

Cash 100.000
(Paid for fixing the motorbike)
October 15 Account payable 200.000

Cash 200.000
(Paid for friend from borrowing on October
10)
October 18 Entertainment expense 550.000

Cash 550.000
(Paid for a music festival ticket)

Cash 127.000
(Bought beef and sausage)
Cash 87.000
(Bought pork)

Cash 50.000
(Bought spring roll)

Cash 106.060
(Bought chicken and snack)

Cash 94.770
(Bought pork, kumquat, chicken and
chilies)

Cash 19.000
(Bought milk and cake)

Cash 80.000
( Paid for cooking oil and tissue)
Food and drinks expense 26.000

Cash 26.000
(Bought cake)

Cash 55.000
(Bought cake)

Cash 171.000
(Bought chocolate and snack)

Cash 273.400
(Bought rice, soup, noodle)

Cash 79.900
(Bought pork bone and beer)

Cash 189.600
(Bought water, orange juice, milk and
cookies)

Cash 122.000
(Bought snack and cake)
Personal shopping expense 14.000

Cash 14.000
( Paid for elastic hair tie)

Cash 184.000
( Paid for tissue and thermal water tank)

Cash 8.400
(Bought tea)

Cash 39.890
(Bought vegetable)

Cash 24.000
( Paid for toothpick)

Cash 31.400
(Bought tea and ice cream)
October 24 Healthcare expense 300.000

Cash 300.000
(Bought medicine)
October 26 Account receivable 500.000

Cash 500.000
(Lent a friend money)

Cash 100.000
( Bought a book)

Cash 400.000
( Bought a schoolbag)
October 29 Cash 500.000

Account receivable 500.000
(Received money from a friend for lending
on October 26)

Cash 400.000
( Bought a new laptop charge)
October 31 Cash 2.000.000

Personal income 2.000.000
(Received salary from part-time job)
October 31 Depreciation expense - Laptop 500.000

Accumulated Depreciation - Laptop 500.000
(Depreciation of Laptop
(20.000.000-2.000.000)/(3 year x 12
month)= 500.000/month)
October 31 Depreciation expense - Phone 250.000

Accumulated Depreciation - Phone 250.000
(Depreciation of Phone
(12.000.000-0)/(4 year x 12 month)=
250.000/month)
October 31 Depreciation expense - Motorbike 250.000

Accumulated Depreciation - Motorbike 250.000
(Depreciation of Motorbike
(16.000.000-4.000.000)/(4 year x 12
month)=250.000/month)
Ledger
Cash
Debit Credit
October 1 5.000.000 61.800 October 1
October 10 200.000 24.545 October 1
October 29 500.000 32.000 October 1
October 31 2.000.000 20.000 October 1
32.000 October 1
30.000 October 1
27.000 October 1
148.785 October 1
46.350 October 1
1.000.000 October 3
26.000 October 4
400.000 October 7
150.000 October 9
100.000 October 13
200.000 October 15
550.000 October 18
127.000 October 20
87.000 October 20
50.000 October 20
106.060 October 20
94.770 October 20
19.000 October 20
80.000 October 21
26.000 October 21
55.000 October 21
171.000 October 21
273.400 October 21
79.900 October 21
189.600 October 21
122.000 October 22
14.000 October 22
184.000 October 22
8.400 October 22
39.890 October 22
24.000 October 22
31.400 October 22
300.000 October 24
500.000 October 26
100.000 October 27
400.000 October 28
400.000 October 30
Balance: 1.369.100
Account receivable
Debit Credit
October 26 500.000 500.000 October 29
Balance: 0
Account payable
Debit Credit
October 15 200.000 200.000 October 10
Balance: 0
Family contributions
Debit Credit
5.000.000 October 1
Balance: 5.000.000
Personal income
Debit Credit
2.000.000 October 31
Balance: 2.000.000
Food and drinks expense

Debit Credit
October 1 61.800
October 1 24.545
October 1 20.000
October 1 30.000
October 1 27.000
October 1 148.785
October 1 46.350
October 4 26.000
October 20 127.000
October 20 87.000
October 20 50.000
October 20 106.060
October 20 94.770
October 20 19.000
October 21 26.000
October 21 55.000
October 21 171.000
October 21 273.400
October 21 79.900
October 21 189.600
October 22 122.000
October 22 8.400
October 22 39.890
October 22 31.400
Balance: 1.864.900
Personal shopping expense

Debit Credit
October 1 32.000
October 1 32.000
October 3 1.000.000
October 7 400.000
October 21 80.000
October 22 14.000
October 22 184.000
October 22 24.000
October 27 100.000
October 28 400.000
October 30 400.000
Balance: 2.666.000
Entertainment expense
Debit Credit
October 9 150.000
October 18 550.000
Balance: 700.000
Miscellaneous expense
Debit Credit
October 13 100.000
Balance: 100.000
Healthcare expense
Debit Credit
October 24 300.000
Balance: 300.000
Depreciation expense-Laptop
Debit Credit
October 31 500.000
Balance: 500.000
Depreciation expense-Phone
Debit Credit
October 31 250.000
Balance: 250.000
Depreciation expense-Motor bike

Debit Credit
October 31 250.000
Balance: 250.000
2. Prepare the trial balance, the adjusted trial balance, the income
statement, and the statement of cash flows.
Trial Balance
Trial Balance
October 31, 2023
Account Debit Credit
Cash 1.369.100
Account receivable 0
Accumulated depreciation - Laptop 500.000
Accumulated depreciation - Phone 250.000
Accumulated depreciation - Motor bike 250.000
Account payable 0

Food and drinks expense 1.864.900
Personal shopping expense 2.666.000
Entertainment expense 700.000
Miscellaneous expense 100.000
Healthcare expense 300.000
Depreciation expense-Laptop 500.000
Depreciation expense-Phone 250.000
Depreciation expense-Motorbike 250.000
Total 8.000.000 8.000.000
Adjusted Trial Balance
Account Unadjusted Trial Adjustment Adjusted Trial Balance

Balance
Debit Credit Debit Credit Debit Credit
Cash 1.369.100 1.369.100
Account receivable 0 0
Accumulated 0 500.000 500.000

depreciation - Laptop
Accumulated 0 250.000 250.000

depreciation - Phone
Accumulated 0 250.000 250.000

depreciation - Motor bike
Account payable 0 0
Family contributions 5.000.000 5.000.000
Personal income 2.000.000 2.000.000
Food and drinks 1.864.900 1.864.900

expense
Personal shopping 2.666.000 2.666.900

expense
Entertainment expense 700.000 700.000

Miscellaneous expense 100.000 100.000
Healthcare expense 300.000 300.000
Depreciation 0 500.000 500.000

expense-Laptop

expense-Phone

expense-Motorbike
Total 7.000.000 7.000.000 1.000.000 1.000.000 8.000.000 8.000.000
Account Income statement Balance sheet & Owner’s equity
Debit Credit Debit Credit
Cash 1.369.100
Account 0
receivable
Accumulated 500.000
depreciation -
Laptop
Accumulated 250.000
depreciation -
Phone
Accumulated 250.000
depreciation -
Motor bike
Account payable 0
Family 5.000.000
contributions
Food and drinks 1.864.900

expense
Personal 2.666.000
shopping
expense
Entertainment 700.000
expense
Miscellaneous 100.000
expense
Healthcare 300.000
expense
Depreciation 500.000
expense-Laptop
expense-Phone
expense-Motorbi
ke
Total 6.630.900 7.000.000 1.369.100 1.000.000
369.100 369.100
7.000.000 7.000.000 1.369.100 1.369.100
Income statement
Income Statement October 31, 2023
Revenues
Total revenues 7.000.000
Expenses
Food and drinks expense 1.864.900
Personal shopping expense 2.666.000
Miscellaneous expense 100.000
Healthcare expense 300.000

Depreciation expense-Motorbike 250.000
Total expenses 6.630.900
Net income 369.100
The statement of cash flows
The statement of cash flows

Statement of cash flows for Month Ended October 2023
Cash flow from operating activities

Cash from family contributions 5.000.000
Cash from personal income 2.000.000
Cash paid for food and drinks expenses (1.864.900)
Cash paid for personal shopping expenses (2.666.000)
Cash paid for entertainment expenses (700.000)
Cash paid for miscellaneous expenses (100.000)
Cash paid for healthcare expenses (300.000)
Net cash provided by operating activities 1.369.100
Cash flow from investing activities
Cash paid for Depreciation expense-Laptop (500.000)
Cash paid for Depreciation expense-Phone (250.000)
Cash paid for Depreciation expense-Motorbike (250.000)
Net cash used by investing activities (1.000.000)
Cash flow from financing activities

Investment by owner 0
Withdrawal by owner 0
Net cash provided by financing activities 0
Net increase in cash 369.100
Cash balance, October 1, 2023 0
Cash balance, October 31, 2023 369.100
Closing entries
Date Description Debit Credit
October 31 Family contribution 5.000.000

Income summary 7.000.000
(Close revenue accounts)
October 31 Income summary 6.630.900 1.864.900

Food and drinks expenses 2.666.000
Personal shopping expenses 700.000
Miscellaneous expenses 300.000
Healthcare expenses 500.000
Depreciation expense-Motorbike
(Close expense accounts)
October 31 Income summary 369.100

Retained earning 369.100
(To close income summary)
3. Shelf comments about your budget plan and how to improve next
month (at least 500 words).
Today, personal financial management skills are an important skill that everyone needs,
especially young people. Personal financial management skills can help people manage
their own financial funds well, helping us to be able to pay necessary expenses and not fall
into financial distress in difficult situations. Realizing the importance of budgeting, after each
month, I have the habit of looking back at my financial change per month to evaluate and
improve myself for the next month.
From the first day of the month, I have had an amount of 5,000,000 from my parents
contributions. In the first half month, I spent a lot on food and drink expenses as well as
personal shopping expenses. In the second half of the month, I also spent the most on one
type of expense: food and drink expenses and personal shopping expenses. I realize this will
be a big disadvantage if I continue to prolong this disadvantage. I spent a lot on food and
drinks during the month, specifically 1,864,900 and in the last month I did not use up 100%
of the food I bought, leading to the quality of the food going down as well as wasting money.
From next month, I will carefully consider buying food and drinks so that I can use them up
with the best quality and avoid wasting money by buying too much food. Regarding personal
shopping expenses, this is the largest expense of the month with 2,666,000. In addition to
the necessary items for daily living, I am spending a lot of money on my own clothes and
accessories. I realize this is a waste, so to balance this spending next month, I will not spend
more money on clothes or fashion accessories. An unfortunate incident happened to my
motorbike that cost me 100,000 to repair it. I will try to use my motorbike as carefully as
possible so that next month I will not spend more money on repairing it. One thing I was very
disappointed about was that I got sick and had to spend 300,000 on medicine. Surely next
time I will take good care of my health by eating and living healthily so I don't have to spend
money on medicine like this month. To reward myself for being a good student last semester,
I spent 700,000 on a movie ticket with my friends and a ticket to my favorite concert. I feel
satisfied with this expenditure because it helps me be motivated to try harder in the future.
Next month, I will try to increase my income by finding a new job, so I can pay for my own
personal purchases, and help my parents by receiving less contributions in the new month.
Next month, I will try to increase my income to help my parents as well as manage
expenses well. This will help me stay confident in my financial abilities as well as practice
self-discipline. I hope that not only me but also my friends in particular and other young
people in general can practice this habit to make ourselves better day by day.

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Individual assignment

SUBJECT: Principles of Accounting (ACC101)

Lecture: Nguyễn Thanh Huyền

PART 1: Analyze all transactions following steps of the accounting

October 1 Received from parents 5.000.000 VND

October 1 Paid 29.800 VND for milk, 19.000 for cake,

October 1 Paid 24.545 for cabbage

October 1 Paid 11.000 for cooking spices, 2.000 for a

October 1 Paid 14.000 for hand wash, 18.000 for

October 1 Paid 19.000 for milk, 11.000 for snack

October 1 Paid 12.000 for vegetable, 15.000 for

October 1 Paid 123.000 for dumplings, 25.785 for

October 3 Paid 1.000.000 for clothes on Shopee

October 4 Paid 26.000 for milk

October 7 Paid 400.000 for cleanser

October 9 Paid 150.000 for cinema ticket

October 10 Borrow 200.000 from a friend

October 13 Paid 100.000 for fixing the motorbike

October 15 Paid 200.000 for friend from borrowing on

October 18 Paid 550.000 for a music festival ticket

October 20 Paid 73.000 for beef, 54.000 for sausage

October 20 Paid 87.000 for pork

October 20 Paid 50.000 for spring roll

October 20 Paid 80.560 for chicken, 25.500 for snack

October 20 Paid 53.650 for pork, 4.000 for kumquat,

October 20 Paid 11.000 for milk, 8.000 for cake

October 21 Paid 54.000 for cooking oil, 26.000 for

October 21 Paid 55.000 for cake

October 21 Paid 56.000 for chocolate, 115.000 for

October 21 Paid 180.000 for rice, 86.000 for soup,

October 21 Paid 69.000 for pork bone, 10.900 for beer

October 21 Paid 15.600 for water, 35.000 for orange

October 22 Paid 60.000 for snack, 14.000 for elastic

October 22 Paid 16.000 for tissue, 168.000 for thermal

October 22 Paid 8.400 for tea

October 22 Paid 24.000 for toothpick

October 22 Paid 31.400 for tea and ice cream

October 24 Paid 300.000 for medicine

October 26 Lent a friend 500.000

October 27 Paid 100.000 for a book

October 28 Paid 400.000 for a new schoolbag

October 29 Received 500,000 from a friend for the

October 30 Paid 400.000 for a new laptop charge

October 31 Received 2.000.000 salary from work

Date Description Debit Credit

October 1 Cash 5.000.000

October 1 Food and drinks expense 61.800

October 1 Food and drinks expense 24.545

October 1 Personal shopping expense 32.000

Food and drinks expense 20.000

October 1 Personal shopping expense 32.000

October 1 Food and drinks expense 30.000

October 1 Food and drinks expense 27.000

October 1 Food and drinks expense 148.785

October 1 Food and drinks expense 46.350

October 3 Personal shopping expense 1.000.000

October 4 Food and drinks expense 26.000

October 7 Personal shopping expense 400.000

October 9 Entertainment expense 150.000

October 10 Cash 200.000

October 13 Miscellaneous expense 100.000

October 15 Account payable 200.000

October 18 Entertainment expense 550.000

October 20 Food and drinks expense 127.000