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    PA5 Group-5 P1

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    Phuong Nguyen Minh
    This document contains information about Group 5 members working on an exercise, financial transactions for Humble Management Services, and their trial balance as of September 30, 2021. It lists 5 members of Group 5 working on Exercise 2.1 which involves calculating net income or loss using the equation provided. It also provides the general journal, general ledger, and trial balance for Humble Management Services for the month of September 2021, which includes various revenue, expense, asset and liability accounts.

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    PA5 Group-5 P1

    Uploaded by

    Phuong Nguyen Minh
    26 views6 pages
    This document contains information about Group 5 members working on an exercise, financial transactions for Humble Management Services, and their trial balance as of September 30, 2021. It lists 5 members of Group 5 working on Exercise 2.1 which involves calculating net income or loss using the equation provided. It also provides the general journal, general ledger, and trial balance for Humble Management Services for the month of September 2021, which includes various revenue, expense, asset and liability accounts.

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    PA5_Group-5_P1

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    This document contains information about Group 5 members working on an exercise, financial transactions for Humble Management Services, and their trial balance as of September 30, 2021. It lists 5 members of Group 5 working on Exercise 2.1 which involves calculating net income or loss using the equation provided. It also provides the general journal, general ledger, and trial balance for Humble Management Services for the month of September 2021, which includes various revenue, expense, asset and liability accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    26 views6 pages

    PA5 Group-5 P1

    Uploaded by

    Phuong Nguyen Minh
    This document contains information about Group 5 members working on an exercise, financial transactions for Humble Management Services, and their trial balance as of September 30, 2021. It lists 5 members of Group 5 working on Exercise 2.1 which involves calculating net income or loss using the equation provided. It also provides the general journal, general ledger, and trial balance for Humble Management Services for the month of September 2021, which includes various revenue, expense, asset and liability accounts.

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    Group 5

    1. Bùi Huy Hoàng - 31211022625


    2. Hùng Gia Hân - 31211022004
    3. Đỗ Thị Thanh Hiền - 31211021560
    4. Đặng Quế phong - 31211021850
    5. Võ Ngọc Quỳnh Như - 31211026709
    Exercise 2.1
    Beginning equity + Owner Investment - Withdrawals + Net income/ Net loss = Ending equity

    Beginning equity = 60,000 - 20,000 = 40,000


    Ending equity = 105,000 - 36,000 = 69,000

    a) Net income: 69,000 - 40,000 = 29,000


    b) Net income: 69,000 - 40,000 + 15,000 = 44,000
    c) Net loss: 69,000 - 40,000 - 55,000= -26,000
    d) Net income: 69,000-40,000+15,000-35,000 = 9,000
    Exercise 2.2B
    Humble Management Services
    1. GENERAL JOURNAL

    GENERAL JOURNAL

    Year 2021 Account Title Ref. Debit Credit

    Month Day

    September 1 Cash 38,000


    Equipment 15,000
    Owner’s Capital 53,000
    (Owner’s investment of cash
    in business)

    2 Prepaid Rent Expense 9,000


    Cash 9,000

    4 Equipment 8,000
    Account Payable 8,000
    Office Supplies 2,400
    Account Payable 2,400
    (Payment due in 10 days)

    8 Cash 3,280
    Service Revenues 3,280

    12 Account Receivable 15,400


    Revenues 15,400
    (Customer must pay with 30
    days)

    13 Account Payable 10,400


    Cash 10,400
    (Payable created on Sept. 4)

    19 Prepaid Insurance 1,900


    Cash 1,900

    22 Cash 7,700
    Revenues 7,700

    24 Account Receivable 2,100


    Revenue 2,100

    28 Drawings 5,300
    Cash 5,300

    29 Office supplies 550


    Account Payable 550
    (Company purchases
    additional office supplies)

    30 Expenses 860
    Cash 860

    2. General Ledge
    CASH NO. 101

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sept. 1 Owner's Investment 38,000 38,000

    2 Prepaid rent 9,000 29,000

    8 Service Revenues 3,280 32,280

    13 Settle the payable 10,400 21,880


    created on Sep.4

    19 Prepaid Insurance 1,900 19,980

    22 Revenue from work 7,700 27,680


    Sep.12

    28 Owner's Drawing 5,300 22,380

    30 Utility bill 860 21,520

    Account Receivable NO. 112

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 12 Customer must pay in 15,400 15,400
    30 days
    24 2,100 17,500

    Supplies NO. 126

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 4 Payment due in 10 days 2,400 2,400

    29 Company purchases 550 2,950


    additional office supplies
    Prepaid Insurance NO. 130

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 19 18-month insurance 1,900 1,900

    Equipment NO. 157

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 1 Owner's Investment 15,000 15,000

    4 Company purchased 8,000 23,000

    Accounts Payable NO. 201

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 4 Company purchased 8,000 8,000
    equipment

    5 Company purchased 2,400 10,400


    supplies

    13 Paid for the bill create on 10,400 0


    Sep.4

    29 Purchased office 550 550


    supplies

    Owner’s Capital NO. 301

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 1 Owner’s Investment of 53,000 53,000
    cash in business
    Owner’s Drawings NO. 306

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 28 Owner's Drawing 5,300 5.300

    Service Revenue NO. 400

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 8 Service Revenue 3,280 3,280

    12 Revenue from a project 15,400 18,680

    22 Service Revenue 7,700 26,380

    24 Revenue 2,100 28,480

    Rent Expense NO. 729

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 2 9,000 9,000

    Utilities Expense NO. 732

    DATE EXPLANATION REF DEBIT CREDIT BALANCE

    2021
    Sep. 30 This month’s utility bill 860 860

    3. Trial Balance
    Humble Management Services
    Trial Balance
    September 30, 2021

    Debit Credit

    Cash $ 21,520

    Account Receivable 17,500

    Supplies 2,950

    Prepaid Insurance 1,900

    Equipment 23,000

    Account Payable $ 550

    Owner’s Capital 53,000

    Owner's Drawing 5,300

    Service Revenue 28,480

    Utilities Expense 860

    Rent Expense 9,000

    $ 82030 $ 82030
    (Tụi em không biết gạch 2 gạch ở trên word ở đâu !!!)

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