Question PART A X1 X2 X3 5500 5000 10000 Voucher Explanation No Date Mar-02 Purchased merchandise from Tuan Company Freight charges 2.200 (exclusive of VAT 10%) paid Mar-02 cash in bank Prepaid by cash in bank for import entrustment Mar-04 contract to Lux to open L/C Mar-05 Sold merchandise to T&T Corp Account Amount Debit Credit 1561 22,000 1331 2,200 331 (Tuan Company) 24,200 1562 1331 1122 331 515 1122 632 1561 131 (T&T Corp) 511 3331 2,200 220 2,420 115,000 500 114,500 30,000 30,000 52,800 48,000 4,800 Paid by cash in bank for shipping charges related to the Mar-12 Mar sale to T&T Corp Import tax = X1x23.1x30% VAT tax = [X1x23.1 + X1x23.1x30%] x 10% Total value of import goods Received import entrustment goods with total value of X1 Mar-13 delivered by Lux (import trustee) Lux paid on behalf of the import truster all kind of tax payable to the government budget by VND in bank Mar-15 T&T returned merchandise from the Mar sale The import entrustment fee to Lux was credited on Mar-17 account 641 1331 1121 8,000 800 8,800 38,115 16,517 127,000 1561 1331 331 3333 33312 165,115 16,517 3333 33312 3388 (Lux) 1561 632 5212 3331 131 (T&T Corp) 38,115 16,517 1562 133 331 (Lux) 1270 127 127,000 38,115 16,517 54,632 500 500 700 70 770 1,397 10 11 12 After negotiations with Tuan Corporation, received a Mar-18 credit memorandum from Tuan Paid the amount due Tuan Corporation for the Mar Mar-22 purchase less the price reduction granted Received balance due from T&T Corp for the Mar sale Mar-25 less the return on Mar 15 Received the notice about the consigment goods that had Mar-28 been sold from the AA Agent Commission fee 4.000 (exclusive of VAT 10%) 13 14 Received the balance due from AA Agent for the Mar-30 consigment goods less the commisson fee Paid the rest of the payment for Lux by USD in bank on Mar-30 Mar 13 331 (Tuan Company) 1561 1331 880 331 (Tuan Company) 1121 515 23,320 1121 131 (T&T Corp) 52,030 632 157 131 511 3331 641 133 131 25,000 1121 131 39,600 331 1122 515 3388 1121 11,550 800 80 23,087 233 52,030 25,000 44,000 40,000 4,000 4,000 400 4,400 39,600 11,500 50 56,029 56,029 15 Accrued salary for administration component X2 and Mar-30 selling component X3 642 641 335 5,000 10,000 15,000 PART B Mar-4 Dr Acc 1122 Cr Acc 3388 115,000 Mar-13 Dr Acc 1388 Cr Acc 331 54,632 Dr Acc 331 Cr Acc 1121 54,632 115,000 54,632 54,632 Mar-29 Dr Acc 131 (Dutch Co.) Cr Acc 3331 Dr Acc 511 1,397 Mar-30 Dr Acc 1122 Cr Acc 3388 Dr Acc 3388 Cr Acc 244 Cr Acc 1122 Dr Acc 1121 Cr Acc 1388 (Dutch Co) 11,500 127 1,270 11,500 126,000 114,500 11,500 57,299 56,029 Cr Acc 131 (Dutch Co) 1,270