FPT

BUSINESS ADMINISTRATION DE

PRINCIPLES OF ACCOUNTING (ACC101) - INDIVIDUAL ASSIGNM

Issue date: 14/09/2022
Due date: 1st submission on 30/09/2022 (sheet 1 and 2) and the last submission on 31/10/2022 (on LMS).
Full name:
Class:
COMPANY'S OWNER: …………………..……………………………
Type of business: ……….……………..…….…………..
(You will determine the nature/industry of your business, for example: Merchandising business (sell decorations,
…); Service business (house cleaning, hairdressing, entertainment,…).
Your first investment on capital at 01/10/2022 is: $130,000 (included by $100,000 cash and land valued $30,00
Period: From 01/10/2022 to 31/10/2022 (only one month)
Following the on-going activites, your company has within 30 to 35 transactions for a month, including:
1. Purchasing supplies : By cash and by credit.
2. Purchasing inventories: By cash and by credit.
3. Purchasing service (ex: Repair, insurance, advertising, …): By cash and by credit.
4. Transactions of revenues : (ex: Consulting, rental, service, selling merchandises …): By cash and by receivable
5. Acquisition of non current-assets and depreciation.
6. Withdrawal capital
7. Payment of salary, bank loan or suppliers.
Your duties:
1. Analyse and summary transactions by using the accounting equation (sheet 1).
2. Record transactions in worksheet (sheet 2).
3. Post both a debit and credit to two or more general ledger accounts. You must be in balance at all times; i.e. the
debit entries should equal the sum of your credit entries (sheet 3).
3.1 Preparing Trial balance (sheet 3.1)
3.2 Preparing Closing entries (sheet 3.2)
4. Preparing Income Statement (sheet 4).
5. Preparing Owner's Equity Statement (sheet 5).
6. Preparing Balance Sheet (sheet 6).
Information on submission:
Language: Academic English.
If any students do not hand in the 1st submission on due date above, they will get zero mark with their Indi. Assig
Each day late submission will lead to one grade deduction in the assignment result. The report will get zero (0) if y
than three days.
Submission: 01 excel file and 01 word file (presented with your business plan and activities) of the assignment on
Plagiarism is not allowable.
GENERAL COMPANY INFORMATION

NAME:
TYPES OF COMPANY:
MAIN BUSINESS ACTIVITIES:

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1 Accounting method (perpetual or periodic)
2 Inventories method
3 Doubtful debts
4 Tangible/Intangible fixed assets about depreciation method
 Title
Cash
Accounts Receivable
Inventory
Equipment and Facility Expense
Accumulated Depreciation
Accounts Payable
Capital Account
Office Supplies Expense
Depreciation Expense
Tax Expense
Sales Revenue
………….
 Description
Account for the cash on hand at the bank
Account for all money owed by customers
Account for all products the business plans to sell to customers
Account for the acquisition of physical storage facilities, equipments for warehouse or production
Account for all depreciation entries associated with the warehouse facility
Account for amounts the company must pay within the current year
Account for the investments and withdrawals of money by the business owner
Account for office supplies and furnitures that are consumed
Account for the costs of the warehouse facility that is expensed
Account for state and federal taxes that must be paid on taxable income
Account for all sales revenues from customers
………………
ABB Company

Month Date
10 1
10 2
10 3
10 4
10 5
10 6
10 7
10 8
10 9
10 10
10 11
10 12
10 13
10 14
10 15
10 16
10 17
10 18
10 19
10 20
10 21
10 22
10 23
10 24
10 25
10 26
10 27
10 28
10 29
10 30
Transaction description
Period: From 01/10/2022 to 31/10/2022 (only one month)
Short transaction description
Began a financial services practice by investing $100,000 cash
Receives $1,000 cash in advance from a customer.
Paid $5,000 on 5 computers in the office by cash.
Paid $500 cash for an insurance premium covering the next 12 months.
Purchased office supplies on account, $500.
Completed a work for a client on October 2 .
Completed a work for a customer and collected $1,000 cash.
Completed a work for HJ Co. on credit $2,000.
Provides $1,000 in services to a customer who asks to be billed for the services.
Paid cash for the office supplies purchased on October 5.
Paid $2,000 for July's rent.
Will withdrew $1000 cash to pay personal expenses.
Paid $100 on hiring a parking lot
Recceived payment in full from HJ Co. for the work Completed on October 8.
Received cash payment in full from the customer on the October 9.
Paid $2,500 cash for the secretary's salary.
Completed work for a client and received $1,500 cash in full payment.
Paid $500 cash for this month’s utility bill.
Completed a $10,500 project for a client, who must pay within 7 days.
Will invested $100,000 cash.
Received $5,500 cash as partial payment for the work completed on October 19.
Purchased office supplies on account, $1,000
Purchases for equipment for $5,000. Payment is due within 3 days.
Purchased $500 of additional office supplies on credit.
Paid $5,000 cash to settle the account payable created on October 23.
Received $5,000 cash payment in full for the work completed on October 19.
Paid salaries for 3 employees, $1,000/employee
Paid $2,000 for September's rent.
Paid for advertising $10,000 by cash.
Will withdrew $20,000 cash from the company for personal use.
[Company Name]

ASSETS
Cash Account receivable Land Supplies
1 $100,000
2 $1,000
3 -$5,000
4 -$500
5 $500
6
7 $1,000
8 $2,000
9 $1,000
10 -$500
11 -$2,000
12 -$3,000
13 -$100
14 $2,000 -$2,000
15 $1,000 -$1,000
16 -$2,500
17 $1,500
18 -$500
19 $10,500
20 $100,000
21 $5,500 -$5,500
22 $1,000
23
24 $500
25 -$5,000
26 $5,000 -$5,000
27 -$3,000
28 -$2,000
29 ($10,000)
30 -$20,000
Total $162,900 $0 $0 $2,000
 Module 1: ACCOUNTING EQUATION
Period: From 01/10/2022 to 31/10/2022 (only one month)
ASSETS = LIABILITIES
Equipment Inventory Account payable Unearned Revenue

$1,000
$5,000

$500
-$1,000

-$500

$1,000
$5,000 $5,000
$500
$10,000 $0 = $6,500 $0
$174,900 $174,900
TIES OWNER'S EQUITY
Capital Account Revenues Expenses Withdrawals
$100,000

-$500

$1,000
$1,000
$2,000
$1,000

-$2,000
($3,000)
-$100

-$2,500
$1,500
-$500
$10,500
$100,000

-$5,000

-$3,000
-$2,000
-$10,000
-20000
$0 $200,000 $17,000 -$25,600 -$23,000
[Company Name] Module 2: WORKSHEET (General journal)
Period: From 01/10/2022 to 31/10/2022 (only one month)
Entry Date Account Title
Entry 1 - Owner invests own money and assets to get the business started on October, 1, 2022 in the amount of
1 1/10/2022 Began a financial services practice by investing $100,000 cash
Cash
Capital Account
2 2/10/2022 Receives $1,000 cash in advance from a customer.
Cash
Unearned Revenue
3 3/10/2022 Paid $5,000 on 5 computers in the office by cash.
Equipment
Cash
4 4/10/2022 Paid $500 cash for an insurance premium covering the next 12 months.
Prepaid Insurance
Expenses
5 5/10/2022 Purchased office supplies on account, $500.
Supplies
Account payable
6 6/10/2022 Completed work for a client on October 2 .
Unearned Revenue
Revenues
7 7/10/2022 Completed a work for a customer and collected $1,000 cash.
Cash
Revenues
8 8/10/2022 Completed work for HJ Co. on credit $2,000.
Account receivable
Revenues
9 9/10/2022 Provides $1,000 in services to a customer who asks to be billed for the services.
Account receivable
Revenues
10 10/10/2022 Paid cash for the office supplies purchased on October 5.
Account payable
Cash
11 11/10/2022 Paid $2,000 for July's rent.
Expenses
Cash
12 12/10/2022 Will withdrew $1000 cash to pay personal expenses.
Withdrawals
Cash
13 13/10/2022 Paid $100 on hiring a parking lot
Expenses
Cash
14 14/10/2022 Recceived payment in full from HJ Co. for the work Completed on October 8.
Cash
Account receivable
15 15/10/2022 Received cash payment in full from the customer on the October 10
 Cash
Account receivable
16 16/10/2022 Paid $2,500 cash for the secretary's salary.
Expenses
Cash
17 17/10/2022 Completed work for a client and received $1,500 cash in full payment.
Cash
Revenues
18 18/10/2022 Paid $500 cash for this month’s utility bill.
Expenses
Cash
19 19/10/2022 Completed a $10,500 project for a client, who must pay within 7 days.
Account receivable
Revenues
20 20/10/2022 Will invested $100,000 cash.
Cash
Capital Account
21 21/10/2022 Received $5,500 cash as partial payment for the work completed on October 19.
Cash
Account receivable
22 22/10/2022 Purchased office supplies on account, $1,000
Supplies
Accounts Payable
23 23/10/2022 Purchases for equipment for $5,000. Payment is due within 3 days.
Equipment
Accounts Payable
24 24/10/2022 Purchased $500 of additional office supplies on credit.
Supplies
Accounts Payable
25 25/10/2022 Paid $5,000 cash to settle the account payable created on October 23.
Expenses
Cash
26 26/10/2022 Received $5,000 cash payment in full for the work completed on October 19.
Cash
Account receivable
27 27/10/2022 Paid salaries for 3 employees, $1,000/employee
Expenses
Cash
28 28/10/2022 Paid $2,000 for September's rent.
Expenses
Cash
29 29/10/2022 Paid for advertising $10,000 by cash.
Expenses
Cash
30 30/10/2022 Will withdrew $20,000 cash from the company for personal use.
Withdrawals
Cash
neral journal)
y one month)
Debit Credit
1, 2022 in the amount of $ 174,900

$ 100,000
$ 100,000

$ 1,000
$ 1,000

$ 5,000
$ 5,000
xt 12 months.
$ 500
$ 500

$ 500
$ 500

$ 1,000
$ 1,000

$ 1,000
$ 1,000

$ 2,000
$ 2,000
billed for the services.
$ 1,000
$ 1,000

$ 500
$ 500

$ 2,000
$ 2,000

$ 20,000
$ 20,000

$ 100
$ 100
pleted on October 8. $ 2,000
$ 2,000
$ 300
 $ 1,000
$ 1,000

$ 2,500
$ 2,500
ull payment.
$ 1,500
$ 1,500

$ 500
$ 500
ithin 7 days.
$ 10,500
$ 10,500

$ 100,000
$ 100,000
mpleted on October 19.
$ 5,500
$ 5,500

$ 1,000
$ 1,000

$ 5,000
$ 5,000

$ 500
$ 500
October 23.
$ 5,000
$ 5,000
eted on October 19.
$ 5,000
$ 5,000

$ 3,000
$ 3,000

$ 2,000
$ 2,000

$ 10,000
$ 10,000

$ 20,000
$ 20,000
[Company Name] Module 3: GENERAL LEDGER
Period: From 01/10/2022 to 31/10/2022 (only one month)

Cash
Opening Balance $100,000
$1,000 $5,000
$1,000 $500
$2,000 $500
$1,000 $2,000
$1,500 $3,000
$100,000 $100
$5,500 $2,500
$5,000 $500
$5,000
$3,000
$2,000
$10,000
$20,000
Total $217,000 $54,100
Closing Balance
$162,900

Equipment
……….
Opening Balance $5,000
$5,000

Total $10,000
Closing Balance
$10,000
Supplies

Opening Balance $500

$1,000
$500
Total $2,000
Closing Balance
$2,000
Account receivable

Opening Balance $2,000

$1,000 $2,000
 $10,500 $1,000
$5,500
$5,000
Total $13,500 $13,500
Closing Balance
$0

Withdrawals

Opening Balance $3,000

$20,000

Total $23,000
Closing Balance
$23,000
EDGER
2022 (only one month)

Capital Account
Opening Balance $100,000
$100,000

Total $0 $100,000
Closing Balance $200,000

Account payable

Opening Balance $500

$500 $1,000
$5,000
$500
Total $500 $6,500
Closing Balance $6,500

nt Unearned Revenue

Opening Balance $1,000

1000

Total $1,000 $1,000

Closing Balance $0
Revenues

Opening Balance $1,000

$1,000
$2,000
$1,000
$1,500
Total $0 $10,500
vable Closing Balance $17,000
Expenses

Opening Balance $500

 $2,000
$100
$2,500
$500
$5,000
$3,000
$2,000
als $10,000
Total $25,600
Closing Balance $25,600
[Company Name] Module 3.1: TRIAL BALANCE
Period: From 01/10/2022 to 31/10/2022 (only one month)

Unadjusted Adjusted
Adjustments
Account Trial Balance Trial Balance
Dr Cr Dr Cr Dr
Cash 162,900 162,900
Account receivable
Supplies 2000 2000
Equipment 10,000 10,000
Account payable 6500
Unearned Revenue
Capital Account 200,000
Revenues 17,000
Expenses 25,600 25,600
Withdrawals 23,000 23,000
Total: 223,500 223,500 223,500
LANCE
2022 (only one month)

Adjusted
Trial Balance
Cr

6,500

200,000
17,000

223,500
[Company Name Module 3.2: CLOSING ENTRIES
Period: From 01/10/2022 to 31/10/2022 (only one month)

Date CLOSING ENTRIES Debit Credit

[Company Name] Module 4: INCOME STATEMENT
Period: From 01/10/2022 to 31/10/2022 (only one month)

Revenues
Service for customers

Total Revenues

Expenses
Rent Expense
Hiring a parking lot
Salaries expense
Utility expense
Equipment expense
Supplies expense
Advertising expense
Total Expenses

Net Income/
Net Loss
$ 17,000

$ 17,000

$ 4,000
$ 100
$ 5,500
$ 500
$ 10,000
$ 2,000
$ 10,000
$ 32,100

₫ (15,100.00)
[Company Name] Module 5: OWNER'S EQUITY
Period: From 01/10/2022 to 31/10/2022 (only one month)

ABC, Capital 01/10/2022

Investment by owner $100,000

Add: Net income -$15,100

Total $84,900

Less: Withdrawal by owner $21,000

ABC, Capital 31/10/2022 $63,900

[Company Name] Module 6: BALANCE SHEET
Period: From 01/10/2022 to 31/10/2022 (onl

Assets
Current Assets
Cash
Prepaid expenses
Total current assets
Fixed (Long-Term) Assets
Supplies
Equipment
Total fixed assets
Other Assets

Total Other Assets

Total Assets

Liabilities and Owner's Equity

Current Liabilities
Accounts payable
Total current liabilities
Long-Term Liabilities
Total long-term liabilities
Owner's Equity
Owner's investment
Revenues
Expenses
Withdrawals
Total owner's equity

Total Liabilities and Owner's Equity

e 6: BALANCE SHEET
om 01/10/2022 to 31/10/2022 (only one month)

$162,400
$500
$162,900

$10,000
$2,000
$12,000

$0

$174,900

$6,500
$6,500

$200,000
$17,000
$25,600
$23,000
$168,400

$174,900
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