individual assignment subject principles of accounting acc101 record your transactions for the month ended june 30 2023

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<b>Lecturer: Ms. Nguyen Thanh Huyen</b>

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<b>Topic: Record your transacons for the month ended June 30, 2023 Submission deadline: July 6, 2023 </b>

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<b>I.Idenfy and analyze transacons (with source documents): </b>

<b>No. Transacon for the month (June 1 – June 30, 2023) Source Documents </b>

1 On June 1, I received 5,000,000 VND from my mother to use in 3 months.

2 ^{On June 2, I bought makeup remover water for 88,000 VND and}gum for 30,0000 VND.

3 ^{On June 4, paid 10,000 VND for quizlet plus account to learn for}^IJune.

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4 ^{On June 8, I and my lover went to have lunch at Com Nha and I}paid for that lunch and it was worth 70,000 VND.

5 ^{On June 10, went to the Manh Quan supermarket and paid}_{119,745 VND for ingredients to make kimbap for 119,745 VND}^I

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6

On June 11, I paid 28,000 VND for the prinng member photos at Photocopy Thanh Huong for for the project of the SSG104’s group. At the same me, I also went to print standee at Tuan Tho photoshop and paid 80,000 VND abd paid 31,200 VND for 8 card straps at Tri Tue bookstore for this group The money will be . refunded by the leader of this group on June 14.

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7

On June 12, because of the lack of items, the SSG104’s project group asked me to purchase more missing items in the upcoming Workshop and the total value of the items was 46,000 VND. The money will be refunded by the leader of this group on June 14.

8 ^{On June 13, purchased 1 box of TH True Milk at Green Mark 2}^Isupermarket near my house for 10,000 VND.

9

On June 14, the project leader of the subject SSG104 paid me 185,200 VND for my purchase of supplies and prinng for the project on June 12 and 13.

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10

On June 15, I went to lunch with my lover and paid 80,000 VND for lunch. In the evening, I went to drink milk tea with Duong, Dung and Loan. I paid 115,000 VND for 4 cups of milk tea rst (of which my milk tea cost 30,000), right aer that Duong paid me 25,000 VND for his milk tea, Dung paid 30,000 VND for me, and Loan promises to pay 30,000 VND on June 17.

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11

On June 16, I went to have lunch with Duong at Mango Food Center, I paid 70,000 VND, then, Duong gave me 35,000 VND the same day. In the aernoon, I invited Thao to drink lemon tea to talk and paid 50,000 VND for drink.

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12 On June 17, Loan paid me 30,000 VND for milk tea on June 15. 13 On June 18, I lent Chi 50,000 VND for her to ll up with gas. 14 ^{On June 19, prepaid a monthly bus cket worth 100,000 VND}^I

for July 2023.

15 ^{On June 20, I went to lunch with my lover and paid}⁷⁰^{,000 VND}for lunch.

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16 ^{On June 21, I went to have dinner with my lover at Nhat Nuong}and paid 298,000 VND.

17 On June 22, Chi paid me 50,000 for her loan on June 18.

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18 ^{On June 24, purchased 38,000 VND learning supplies at Tri Tue}^Ibookstore.

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Paid cash for 8 card straps at Tri Tue bookstore for the SSG104’s group and be refunded on June 14

<b>June 12 </b>

Paid cash for missing items of upcominng Workshop for the SSG104’s group and be refunded on June 14

<b>June 13 </b> Paid cash for 1 box of TH True Milk at

<b>June 14 </b>

Received the refunding for purchasing supplies and prinng for the project of SG104’s group on June 12 and 13 by cash

Paid for 1 cup of my milk tea and 3 cups of milk tea of Duong, Dung, Loan respectively; Duong and Dung pay immediately, Loan promises to pay on June 17

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Recorded payment received for

loans of Duong and Dung by cash ^55,000 ^4,532,255

<b>June 16 </b>

Paid the lunch for myself and Duong by cash; Duong will give back 50% money.

Recorded payment received for

Paid for drinking by cash 50,000 4,447,255

<b>June 17 </b> Recorded payment received for

loans of Loan on June 15 by cash ^30,000 ^4,477,255

<b>June 18 </b> Lent Chi for her to fill up with gas;

pay on June 22 ^50,000 ^4,427,255

<b>June 19 </b> Prepaid a monthly bus ticket worth

100,000 VND for July 2023 ^100,000 ^4,327,255

<b>June 22 </b> Recorded payment received for

loans of Chi on June 18 by cash ^50,000 ^4,009,225

<b>June 24 </b> Paid cash for learning supplies at Tri

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<b>June 25 </b> Paid cash for cake and coffee by

Paid the dinner for myself and Tuan by cash; Tuan will give back 50% money

Recorded payment received for

<b>June 27 </b> Paid cash for cotton pads by cash 43,000 3,685,355

<b>June 28 </b> Received cash from dancing for the

school's honor ceremony ^100,000 ^3,785,355Received cash for tutoring 4

sessions per month ^800,000 ^4,585,355

<b>June 30 </b> Paid a T-shirt a gift for my as

brother’ birthdays ^200,000 ^4,346,355

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<b>Loans Receivable – SG104’s group </b>

80,000 31,2000

<b>Loans Receivable – Duong </b>

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<b>Loans Receivable – Dung </b>

<b>Loans Receivable – Loan </b>

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<b>Loans Receivable – Chi </b>

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<b>Learning Supplies </b>

<b>Prepaid Monthly Bus Ticket </b>

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<b>Turtoring Revenue </b>

<b>Foood and Drink Expense </b>

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<b>June 16 </b> 35,000 50,000

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<b>Depreciaon Expense – Laptop </b>

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<b>IV. Prepare an unadjusted trial balance, Adjustments, Prepare adjusted trial </b>

<b>balance: </b>

HUYEN MY TRIAL BALANCE For month ended June 30, 20233

Acc. Name ^{Unadjusted Trial Balance} ^Adjustment ^{Adjustment Trial Balance}

Cash _4,346,355^VND _4,346,355^VND

Loans Receivable –

SSG104’s Group      

Loans Receivable Duong –

Loans Receivable Dung –

Loans Receivable Loan –

Loans Receivable Chi –

VND

350,000 

VND 350,000

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VND 350,000

VND 350,000

VND 6,250,000

VND 6,250,000

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HUYEN MYTRIAL BALANCEFor month ended June , 2023330

Loans Receivable – SSG104’s GroupLoans Receivable Duong –Loans Receivable Dung –Loans Receivable Loan –Loans Receivable Chi –

Prepaid Monthly Bus Ticket 100,000

Accumulated Deprecia on - Equipment VND 350,000Family Revenue VND 5,000,000

Performance Revenue 100,000Turtoring Revenue 800,000Food and Drinking Expense VND 1,074,645

Learning Expense 10,000Gi Expense 200,000Deprecia on Expense Laptop – 350,000

<b>Total VND 1,634,645 VND 5,900,000 VND 4,615,355 </b>

<b>Net income VND 4,265,355 VND 4,265,355 VND 4,615,355 VND 4,615,355 </b>

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<b>V. Prepare statement: </b>

HUYEN MY Income Statement For month ended June 30, 20233

Family Revenue VND 5,000,000 Performance Revenue 100,000 Turtoring Revenue 800,000

Total revenue <b>VND5,900,000</b>

Food and Drinking Expense VND 1,074,645 Learning Expense ,000 10 Gi Expense 200,000 Deprecia on Expense Laptop – 350,000

Total expense <b>VND 1,634,645 </b>

Net income   <b>^{VND 4,265,355}</b>

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HUYEN MY Statement of Cash Flows For Month Ended June 30, 2023

Cash received from my mother VND 5,000,000 Cash received from dancing 100,000 Cash received from turtoring _800,000  Cash paid for skincare supplies _(131,000)  Cash paid for learning supplies _(38,000)  Cash paid for monthly bus ticket _(100,000)  Cash paid for food and drinking _(1,074,645)  Cash paid for learning services (10,000)

<b> Net cash provided by opera on ac vities _{VND 4,346,355}</b>

<b>Net increase in cash VND 4,346,355 Cash balance, June 1, 2023 </b> -

<b>Cash balance, June 30, 2023 VND 4,346,355 </b>

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<b>VI. Closing: </b>

<b>June 30 </b>

Family Revenue Performance Revenue Tutoring Revenue Income summary

(To close revenue accounts to income summary account)

5,000,000 100,000 800,000

5,900,000 Income summary

Food and Drinking Expense Learning Expense

Gi Expense

Deprecia on Expense Laptop –

(To close expense accounts to income summary account)

1,634,645

1,074,645 10,000 200,000 350,000 Income summary

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<b>VII. Post-closing trial balance: </b>

HUYEN MY Post-Closing Trial Balance For month ended June 30, 20233

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<b>VIII. Self-comment about your budget plan and how to improve next month (at least </b>

I no ced significant expenses on dining out and social ac vi es. While it's essen al to enjoy me with loved ones, these costs can accumulate quickly. Se ng a monthly limit for dining out and entertainment can be bene cial. Exploring a ordable alterna ves like cooking at home or organizing inexpensive outings with friends can help. Moreover, it's crucial to manage money loaned to others. Documen ng loans and establishing clear repayment expecta ons is vital. Se ng boundaries and limits on lending, especially if it a ects my nancial stability, is advisable.

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Addi onally, the addi onal income from dancing and tutoring sessions is great. It reflects resourcefulness in supplemen ng the budget. Exploring more opportuni es like part- me work or freelancing in my exper se can provide extra cushion and exibility.

To improve nancial management for the next month, consider the following steps:

<b>1. Analyze my expenses: Take a close look at my spending habits and iden fy areas where I can cut back. Are </b>

there any unnecessary expenses that I can eliminate or reduce? By being mindful of my spending, I can ensure that my money is allocated to the things that ma er most to me.

<b>2. Create a detailed budget: Based on my analysis of expenses and income, create a comprehensive budget for </b>

the upcoming month. Allocate speci c amounts for di erent categories like groceries, transporta on, entertainment, etc. This will give me a clear roadmap to follow and help me stay on track.

<b>3. Save for emergencies: It's always wise to have an emergency fund in case unexpected expenses arise. Aim to </b>

set aside a portion of my income each month into a separate savings account speci cally designated for emergencies.

<b>4. Consider long-term goals: Take some me to think about my long-term nancial goals, such as saving for </b>

educa on, travel, or retirement. Allocate a por on of my income towards these goals each month. Crea ng a plan will give me a sense of direc on and purpose in managing my nances.

<b>5. Stay accountable: Regularly review my budget and track my expenses throughout the month. Adjust when </b>

necessary and hold myself accountable for sticking to my nancial plan. Consider involving a trusted friend or family member who can provide support and help keep me on track.

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By implemen ng these strategies and prac cing mindful spending, I can enhance budget management and make progress towards nancial goals. Remember that nancial responsibility is an ongoing process, so remain commi ed and con nually seek ways to improve nancial well-being.

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