Principles Of Accounting - Acc101 Individual Assignment.pdf

Analyze all transactions following steps of the accounting cycle record in General Journal and Ledger.Step 1: Analyze transactions 1.. My parents provided me 1,500,000 VNĐ in cash monthl

Principles of Accounting - ACC101

Table of Contents

Transactions for the month of February 28, 2023……….3

Analyze all transactions following the steps of the accounting……….3

Trial balance……….10

Adjusted trial balance……… 12

Income statement……… 13

Statement of cash flows………14

Bill………17

My budget plan and how to improve next month……… 23

Analyze all transactions following steps of the accounting cycle (record in General Journal and Ledger).

Step 1: Analyze transactions

1 My parents provided me 1,500,000 VNĐ in cash monthly living expenses.

2 My parents provided me 500,000 VNĐ on account monthly living expenses

3 On February 1, I paid 99,000 VND in cash for items.

4 On February 1, I paid 64,000 VND in cash for cooking oil.

5 On February 1, I paid 18,000 VND in cash for items.

6 On February 1, I paid 36,000 VND in cash for snacks.

7 On February 2, I paid 134,000 VND on account for food.

8 On February 3, I withdraw 150,000 VND from my account to cash.

9 On February 3, I paid 95,610 VND on account for coats.

10.On February 3, I paid 51,501 VND on account for perfume.

11.On February 7, I paid 116,000 VND on account of items.

12.On February 8, I paid 35,000 VND in cash for food service.

13.On February 8, I paid 158,000 VND in cash for items.

14.On February 10, I withdraw 50,000 VND from my account to cash.

15.On February 10, I paid 110,000 VND in cash for food service.

16.On February 10, I paid 25,000 VND in cash for food service.

17.On February 10, I received 68,000 VND in cash for food services from transactions 15 and 16

18.On February 14, I paid 22,000 VND in cash for snacks

19.On February 14, I paid 169,000 VND on account for items.

20.On February 15, My parent provided me 500,000 VNĐ on account of monthly living expenses.

21.On February 16, I paid 41,000 VND in on account for items.

22.On February 19, I paid 67,000 VND in cash for food.

23.On February 21, I paid 20,000 VND on account of a drink.

24.On February 24, I paid 75,000 VND in cash of food.

25.On February 22, I paid 150,00 VND in cash for mirror.

26.On February 22, I received 100,000 VND in cash for furniture from transactions 24

27.On February 25, I paid 90,000 VND in cash for movie watching service.

28.On February 25, I withdraw 50,000 VND from my account to cash.

29.On February 26, I paid 134,00 VND in cash for clothes racks.

30.On February 27, I paid 178,000 VND on account for jeans

(Purchased snacks for cash)

(Purchase food on account)

(Purchase perfume on account)

(Purchase of items on account)

(To record the of use food services for cash)

(Purchased items for Cash)

(Receive money from sharing food at transactions 14,15)

(Purchased snacks for cash)

(Purchase of items on account)

( Receive money from parent)

(Purchase of items on account)

(Purchased food for cash)

(To record the use of drink service on account)

Revenue 100,000(Receive money from sharing furniture at transactions 23)

(To record the use of movie-watching services for cash)

(Cash withdrawal by owner)

(Purchased clothes racks for cash)

(Purchase of jeans on account)

Step 3: Post

- Cash

Feb.1 Receive money from parent 2,000,000 1,500,000

Feb.1 Purchased cooking oil for cash 64,000 1,337,000

Feb.8 To record the of use food services for cash 35,000 1,248,000

Feb.10 To record the use of food services for cash 110,000 980,000Feb.10 To record the use of food services for cash 25,000 955,000Feb.10 Receive money from sharing food 68,000 1,023,000

Feb.21 To record the use of food services for cash 75,000 859,000

Feb.22 Receive money from sharing furniture 100,000 809,000Feb.25 To record the use of movie-watching

services for cash

90,000 719,000Feb.26 Purchased clothes racks for cash 134,000 585,000

- Furniture

Feb.22 Purchased mirror for cash 150,000 150,000

- Accounts receivable

- Account payable

Feb.7 Purchase of items on account 116,000 547,111

Feb.14 Purchase of items on account 169,000 766,111Feb.16 Purchase of items on account 41,000 807,111Feb.21 To record the use of drink service on

account

20,000 827,111

Feb.27 Purchase of jeans on account 178,000 1,055,111

- Ngoc Ha, withdrawals

- Revenue

Feb.1 Receive money from parent 1,500,000 1.500,000

Feb.10 Receive money from sharing food 68,000 2,068,000

Feb.22 Receive money from sharing furniture 100,000 2,668,000

- Items expense

Feb.1 Purchased items for cash 18,000 117,000

- Cooking expense

Feb.1 Purchased cooking oil for cash 64,000 64,000

- Food expense

Feb.8 To record the of use food services for cash 35,000 205,000Feb.10 To record the use of food services for cash 110,000 315,000Feb.10 To record the use of food services for cash 25,000 340,000

Feb.21 To record the use of food services for cash 75,000 504,000

- Personal expense

Feb.26 Purchased clothes racks for cash 134,000 281,111

- Drink expense

Feb.21 To record the use of drink service on

account

- Movie-watching expense

Feb.25 To record the use of movie-watching

services for cash

Step 4: Prepare unadjusted trial balance

Transactions for the month of February

Unadjusted trial Balance For Month Ended February 28, 2023

(to record monthly depreciation laptop)

(to record monthly depreciation phone)

Step 6: Prepare adjusted trial balance

Transactions for the month of February

Adjusted trial Balance For Month Ended February 28, 2023

Depreciation Expense- Laptop 117,000

Depreciation Expense- Phone 59,000

Income Statement For Month Ended February 28, 2023

Receive money from parent $1,500,000

Receive money from parent 500,000

Receive money from sharing food 68,000

Receive money from parent 500,000

Receive money from sharing furniture 100,000

Depreciation Expense- Laptop 117,000

Depreciation Expense- Phone 59,000

- Statement of cash flows

Transactions for the month of February

Statement of cash flows For Month Ended February 28, 2011 Cash flows from operating activities

Cash received from parent $ 1,500,000

Cash paid for personal 134,000

Cash paid for movie-watching 90,000

Net cash provided by operating activities $2,695,000

Cash flows from investing activities

Net cash used by investing activities 0

Cash flows from financing activities

Net cash provided by financing activities 0

Cash balance, February 28, 2023 $2,695,000

Feb.2

8

(To close Income Summary account)

(To close the withdrawals account)

Step 9: Prepare the post-closing trial balance

Transactions for the month of February

The post-closing trial balance For Month Ended February 28, 2023

Bill

5 6

9 1

0

11

1 2

3

1 4

1

5

1 6

8

1 9

2

1

2 2

3

2 4

7

My budget plan and how to improve next month