KIMO HATS COMPANY

Month Date
3 1
2
2
2
3
3
3
4
4
4
4
5
5
5
5
6
6
6
7
7
7
8
9
9
9
10
10
10
10
11
11
12
12
13
14
15
16
17
18
20
21
22
23
23
24
25
26
26
27
28
28
29
29
30
31
31
HATS COMPANY
Transaction description

Period: From 01/3/2022 to 31/3/2022 (one month)

Short transaction description
Ms. Kimo invested $200,000 in Kimo Hats Company including $150000 in cash and $50,000 in land value.( 5 years
The company imports 1500 hats for $20/piece ($30000) under credit terms (FOB shipping point, 1/10, n/30)
Company buys supplies for $480 on credit
The company sells 5 hats to Maiko for $40/piece on credit
The company hires an accountant, each person is paid $120/day. (the employees are paid at the end of the month)
Company sells 7 hats to Ms. San for $40/piece on credit
The company spends $20 on cleaning fees
The company sells 6 hats to Ms. Linh for $40/piece
Company prepaid insurance for $500 for 5 month
Company sells 5 hats to Ms. Haho for $40/piece on credit
Company pays $200 for advertising costs
The company returned 100 hats imported on March 2 due to faulty hats
Maiko pays for the hat purchased on March 2
Company prepaid $1500 for 2 months rent.
The company borrowed a long-term loan of $2300 from the bank with an interest rate of 1.3%/month
Ms. San returned 2 hats bought on March 3
The company sold Ms. Chinh 20 hats at $40/piece on credit
The company pays for the import of the hat on March 2
The company paid for the goods on March 2.
The company pays for supplies on March 2
Ms. San paid for the hat on March 3
Ms. Haha paid for the hat on March 4
Mrs. Kimo added capital $3000
Company purchases additional supplies for $420 on credit
The company provides a service to repair hats for $30 for Ms. Thoanh
After negotiating, the company reduced Chinh $50 to buy a hat on March 6
The company sells Loto 22 hats for $40/piece on credit
The company sells Thuna 10 hats for $40/piece on credit
The company hires 2 sales staff, each person is paid 100$/day, receive salary at the end of the month.
Machine repair company runs out of $360, records an invoice
The company purchases $3000 worth of equipment, which is valid for 3 years on credit
Company buys additional supplies for $100
Mrs. Kimo withdraws $1000 of capital for personal reasons
The company pays for supplies on March 9
Ms. Chinh pays for her hat on March 6
Ms. Loto paid for the hat on March 10
Ms. Thuna paid for the hat on March 10
The company paid for the repair of the machine on March 11
The company buys equipment worth $200, valid for 4 months on credit
Company sells 40 hats to Ms. Sun for $40/piece on credit
Company sells 30 hats to Miho retail store for $40/piece on credit
After negotiation, the company reduced her by $20 for Ms. Sun (purchased on March 18).
Company buys a car for commuting worth $450
Company buys extra supplies worth $300 on credit
The company sold Ms. Lesi 20 hats
The company sponsors the contest "Sentalo" 20 hats for $40 each
The company imported 500 more hats for $20
Kimo withdraws $200 for personal reasons
The company paid for the purchase of eqiupment on March 18
Company pays for supplies purchased on March 23
Ms. Sun pays for 40 hats purchased on March 18
Ms Miho pays for 30 hats purchased on March 21
The company sells 14 hats to Ms. Dina for $40/piece
The company pays the bank interest in March
The company pays salaries for sales staff, accounting staff
Company pays taxes $150 for the month of March
Gốc : $20 bán $40
Bà Kimo đầu tư $200000 vào công ty Kimo Hats Company bao goomr $150000 tiền mặt
và $50000 giấ trị đất.( 5 năm)
Công ty nhập khẩu 1500 chiếc mũ với giá $20/chiếc ($30000) dưới điều khoản tín dụng
(FOB shipping point, 1/10, n/30)
Công ty mua supplies với giá $480 trong tín dụng
Công
Công ty
ty bán
thuê51chiếc
nhân mũ
viêncho
kế chị
toán,Maiko với giáđược
mỗi người $40/chiếc trênngày.(
trả $120/ tín dụng
các nhân viên được
trả lương cuối tháng)
Công ty bán 7 chiếc mũ cho chị San với giá $40/chiếc trên tín dụng
Công ty chi $20 cho phí vệ sinh
Công ty bán 6 chiếc mũ cho chị Linh với giá $40/chiếc ( đã thanh toán)
Công ty trả trước bảo hiểm với giá $500 dùng cho 5 tháng
Công ty bán 5 chiếc mũ cho chị Haho với giá $40/chiếc trên tín dụng
Công ty trả $200 cho chi phí quảng cáo ( đã thanh toán)
Công ty trả lại 100 chiếc mũ đã nhập ngày 2 tháng 3 do mũ bị lỗi
Maiko trả tiền mũ được nhập ngày 2 tháng 3
Công ty trả trước chi phí thuê nhà $1500 cho 2 tháng.
Công ty vay ngân hàng khoản vay dài hạn trị giá $2300 với lãi suất 1.3%/tháng
Sau khi đàm phán, công ty được giảm giá $400 của tiền nhập mũ ngày 2/3
Chị San trả lại 2 chiếc mũ được mua ngày 3 tháng 3
Công ty bán cho chị Chinh 20 chiếc mũ với giá $40/chiếc trên tín dụng
Công ty trả tiền nhập mũ ngày 2 tháng 3
Công ty trả tiền mua supplies ngày 2 tháng 3
CHị San trả tiền mua mũ ngày 3 tháng 3
Công ty trả tiền mua bảo hiểm ngày 4 tháng 3
Chị Haho trả tiền mua mũ ngày 4 tháng 3
bà Kimo thêm vốn $3000
Công ty mua thêm supplies với giá $420 trên tín dụng
Công ty cung cấp dịch vụ sửa chữa mũ với giá $30 cho chị Thoanh ( đã thanh toán)
Sau khi đàm phán, công ty giảm cho chị Chinh $50 mua mũ ngày 6 tháng 3
Công ty bán cho chị Loto 22 chiếc mũ với giá $40/chiếc trên tín dụng
Công ty bán cho chị Thuna 10 chiếc mũ với giá $40/chiếc trên tín dụng
Công ty thuê 2 nhân viên bán hàng , mỗi người được trả 100$/ngày, nhận lương vào cuối tháng
Công ty mua equipment trị giá $3000, có giá trị sử dụng trong vòng 3 năm trên tín dụng
Công ty mua thêm supplies với giá $100( đã thanh toán)
bà Kimo rút $1000 vốn cho lý do cá nhân
Công ty trả tiền mua supplies ngày 9 tháng 3
Chị Chinh trả tiền mua mũ vào ngày 6 tháng 3
Chị Loto trả tiền mua mũ ngày 10 tháng 3
Chị Thuna trả tiền mua mũ ngày 10 tháng 3
Công ty trả tiền sửa máy móc ngày 11 tháng 3
Công ty mua equipment trị giá $200, có giá trị sử dụng trong vòng 4 tháng trên tín dụng
Công ty bán 40 chiếc mũ cho chị Sun với giá $40/chiếc trên tín dụng
Công ty bán 30 chiếc mũ cho cửa hàng bán lẻ Miho với giá $40/chiếc trên tín dụng
Sau đàm phán, công ty giảm $20 cho chị Sun ( mua hàng ngày 18 tháng 3)
Công ty mua 1 chiếc xe phục vụ việc đi lại trị giá $450 ( đã thanh toán)
Công ty mua thêm supplies trị giá $300 trên tín dụng
CÔng ty bán cho chị Lesi 20 chiếc mũ ( đã được thanh toán)
Công ty tài trợ cuộc thi "Sentalo" 20 chiếc mũ với giá $40/chiếc
Công ty nhập thêm 500 chiếc mũ với giá $20 ( đã thanh toán)
Bà Kimo rút $200 cho lý do cá nhân
Công ty bán 15 chiếc mũ cho chị Linda với giá $40/chiếc( đã thanh toán)
CÔng ty trả tiền mua eqiupment ngày 18 tháng 3
Công ty trả tiền supplies đã mua ngày 23 tháng 3
CHị Sun trả tiền 40 chiếc mũ được mua ngày 18 tháng 3
CHị Miho trả tiền cho 30 chiếc mũ được mua ngày 21 tháng 3
Công ty bán 14 chiếc mũ cho chị Dina với giá $40/chiếc( đã thanh toán)
Công ty trả tiền lãi ngân hàng tháng 3
Công ty trả lương cho nhân viên bán hàng, nhân viên kế toán
Công ty trả tiền thuế $150 cho tháng 3
ng vào cuối tháng
Month: 3
Date Account ASSET Merchandise
Cash receivable Land Supplies Prepaid rent Inventory
1 150,000 50,000
2 30,000
2 480
2 200
-100
3 280
-140
3 -20
4 240
-120
4 -500
4 200
-100
4 -200
5 -2000
5 200 -200
5 -1500 1500
5 2300
6 -400
6 40
-80
6 -400
800
7 -29,600
7 -480
7 200 -200
8 200 -200
9 3000
9 420
9 30
10 -50
10 880
-440
10 400
-200
11
11
 12 -100 100
12 -1000
13 -420
14 750 -750
15 880 -880
16 400 -400
17 -360
18
20 1,600
-800
21 1,200
-600
22 -20
23 -450
23 300
24 800
-400
25 -400
26 -10,000 10,000
26 -200
27 -200
28 -300
28 1,600 -1,600
29 1,200 -1200
29 560
-280
30 -29,9
31 -5,680
31 -150
31
31
31
31 -82
31 -750
111,200 -20 49,918 1,300 750 33,660
Total 200,337
 Prepaid LIABILITIES
Account Capital OWNER'S EQUI
inssurance Equipment payable Loan Payable Account Revenues Expenses
200,000
30,000
480
200

280

20
240

500
200

200
-2000

2300
-400

800
-29600
-480

3000
420
30

880

400

360 360
3000 3000
 -420

-360
200 200
1,600

1,200

450
300
800

400

-200
-300

560

29,9
5,680
150
-58 58
-23 23
-90 90
82
750
410 3,120 1,000 2,300 203,000 7,190 8,263
200,337
OWNER'S EQUITY Sale return & Cost of Good
Sale discount Allowance Sold Withdrawals

100

140

120

100

-40
80
400

50

440

200
 1000

800

600
20

400

200

280

70 80 3,540 1,200
200,337
[KIMO HATS COMPANY] Module 2: WORKSHEET (General jour

Date Account Dr Cr
Ms. Kimo invested $200,000 in Kimo Hats Company including $150000 in cash and $50,000 in land value.( 5 years
1 Cash 150000
Land 50000
Capital Account 200000
The company imports 1500 hats for $20/piece ($30000) under credit terms (FOB shipping point, 1/10, n/30)
2 Merchandise Inventory 30000
Account payable 30000
Company buys supplies for $480 on credit
2 Supplies 480
Account payable 480
The company sells 5 hats to Maiko for $40/piece on credit
2 Account receivable 200
Revenues-Maiko 200
Cost of Good Sold 100
Merchandise Inventory 100
Company sells 7 hats to Ms. San for $40/piece on credit
3 Account receivable 280
Revenues-San 280
Cost of Good Sold 140
Merchandise Inventory 140
The company spends $20 on cleaning fees
3 Expense-cleaning 20
Cash 20
The company sells 6 hats to Ms. Linh for $40/piece
4 Cash 240
Revenues-Linh 240
Cost of Good Sold 120
Merchandise Inventory 120
Company prepaid insurance for $500 for 5 month
4 Prepaid inssurance 500
Cash 500
Company sells 5 hats to Ms. Haho for $40/piece on credit
4 Account receivable 200
Revenues-Haho 200
Cost of Good Sold 100
Merchandise Inventory 100
Company pays $200 for advertising costs
4 Expense-advertising 200
 Cash 200
The company returned 100 hats imported on March 2 due to faulty hats
5 Account payable 2000
Merchandise Inventory 2000
Maiko pays for the hat purchased on March 2
5 Cash 200
Account receivable 200
Company prepaid $1500 for 2 months rent.
5 Prepaid rent 1500
Cash 1500
The company borrowed a long-term loan of $2300 from the bank with an interest rate of 1.3%/month
5 Cash 2300
Loan Payable 2300
After negotiation, the company received a $400 discount on the March 2 cap entry
6 Account payable 400
Merchandise Inventory 400
Ms. San returned 2 hats bought on March 3
6 Merchandise Inventory 40
Cost of Good Sold 40

Sale return & Allowance 80

Account receivable 80
The company sold Ms. Chinh 20 hats at $40/piece on credit
6 Cost of Good Sold 400
Merchandise Inventory 400
Account receivable 800
Revenues-Chinh 800
The company paid for the goods on March 2.
7 Account payable 29600
Cash 29600
The company pays for the supplies of the hat on March 2
7 Account payable 480
Cash 480
Ms. San paid for the hat on March 3
7 Cash 200
Account receivable 200
Ms. Haha paid for the hat on March 4
8 Cash 200
Account receivable 200
Mrs. Kimo added capital $3000
9 Cash 3000
 Capital Account 3000
Company purchases additional supplies for $420 on credit
9 Supplies 420
Account payable 420
The company provides a service to repair hats for $30 for Ms. Thoanh
9 Cash 30
Revenues-Thoanh 30
After negotiating, the company reduced Chinh $50 to buy a hat on March 6
10 Sale discount 50
Account receivable 50
The company sells Loto 22 hats for $40/piece on credit
10 Account receivable 880
Revenues-Loto 880
Cost of Good Sold 440
Merchandise Inventory 440
The company sells Thuna 10 hats for $40/piece on credit
10 Account receivable 400
Revenues-Thuna 400
Cost of Good Sold 200
Merchandise Inventory 200
Machine repair company runs out of $360, records an invoice
11 Expense-machine repair 360
Account payable 360
The company purchases $3000 worth of equipment, which is valid for 3 years on credit
11 Equipment 3000
Account payable 3000
Company buys additional supplies for $100
12 Supplies 100
Cash 100
Mrs. Kimo withdraws $1000 of capital for personal reasons
12 Withdrawals 1000
Cash 1000
The company pays for supplies on March 9
13 Account payable 420
Cash 420
Ms. Chinh pays for her hat on March 6
14 Cash 750
Account receivable 750
Ms. Loto paid for the hat on March 10
15 Cash 880
Account receivable 880
Ms. Thuna paid for the hat on March 10
16 Cash 400
Account receivable 400
The company paid for the repair of the machine on March 11
17 Account payable 360
Cash 360
The company buys equipment worth $200, valid for 4 months on credit
18 Equipment 200
Account payable 200
Company sells 40 hats to Ms. Sun for $40/piece on credit
20 Account receivable 1600
Revenues-Sun 1600
Cost of Good Sold 800
Merchandise Inventory 800
Company sells 30 hats to Miho retail store for $40/piece on credit
21 Account receivable 1200
Revenues-Miho 1200
Cost of Good Sold 600
Merchandise Inventory 600
After negotiation, the company reduced her by $20 for Ms. Sun (purchased on March 18).
22 Sale discount 20
Account receivable 20
Company buys a car for commuting worth $450
23 Expense-buy car 450
Cash 450
Buys extra supplies worth $300 on credit
23 Supplies 300
Account payable 300
Sold Ms. Lesi 20 hats
24 Cash 800
Revenues-Lesi 800
Cost of Good Sold 400
Merchandise Inventory 400
Sponsors the contest "Sentalo" 20 hats for $40 each
25 Expense-sponsors 400
Merchandise Inventory 400
Imported 500 more hats for $20
26 Merchandise Inventory 10000
Cash 10000
Withdraws $200 for personal reasons
26 Withdrawals 200
 Cash 200
The company paid for the purchase of eqiupment on March 18
27 Account payable 200
Cash 200
The company pays for supplies purchased on March 23
28 Account payable 300
Cash 300
Ms. Sun pays for 40 hats purchased on March 18
28 Cash 1600
Account receivable 1600
Miho pays for 30 hats purchased on March 21
29 Cash 1200
Account receivable 1200
Sells 14 hats to Ms. Dina for $40/piece
29 Cash 560
Revenues-Dina 560
Cost of Good Sold 280
Merchandise Inventory 280
The company pays the bank interest in March
30 Expense - interest 29,9
Cash 29,9
The company pays salaries for sales staff, accounting staff
31 Expense-salaries 5680
Cash 5680
The company pays taxes $150 for the month of March
31 Expense-taxes 150
Cash 150
Month-end depreciation for equiment 11/03
31 Depreciation expense 58
Equipment 58
Month-end depreciation for eqiupment 18/03
31 Expense - De Equipment 23
Equipment 23
Month-end depreciation for insurance
31 Expense - De Prepaid insuran 90
Prepaid inssurance 90
Month-end depreciation for land
31 Expense - De land 82
Land 82
Month-end depreciation for prepaid rent
31 Expense - De Prepaid rent 750
Prepaid rent 750
WORKSHEET (General journal)

ash and $50,000 in land value.( 5 years)

FOB shipping point, 1/10, n/30)

erest rate of 1.3%/month
on March 18).
[KIMO HATS COMPANY] Module 7: CLOSING ENTRIES

Date CLOSING ENTRIES

31/3/2022 Income Summary (Revenue)
Revenue-Maiko
Revenue-San
Revenue-Linh
Revenue-Haho
Revenue-Chinh
Revenue-Thoanh
Revenue-Loto
Revenue-Thuna
Revenue-Sun
Revenue-Miho
Revenue-Lesi
Revenue-Dina

31/3/2022 Income Summary (Expense)

Cost of good sold
Expenses-cleaning
Expenses-advertising
Expenses-machine repair
Expense-buy car
Expense-sponsors
Expense- interest
Expense-salaries
Expenses-taxes
Depreciation expense
31/3/2022 Income Summary
Retained earnings
31/3/2022 Kumo Hats Capital
Kumo Hats, withdrawals
TRIES

Debit Credit
7190
200
280
240
200
800
30
880
400
1,600
1,200
800
560

11,803
3,540
20
200
chine repair 360
450
400
29,9
5,680
150
1,003
-4,613 Net Loss
-4,613
1200
withdrawals 1200
[KIMO HATS COMPANY] Module 4: INCOME STATEMENT

Revenues
Revenue-Maiko
Revenue-San
Revenue-Linh
Revenue-Haho
Revenue-Chinh
Revenue-Thoanh
Revenue-Loto
Revenue-Thuna
Revenue-Sun
Revenue-Miho
Revenue-Lesi
Revenue-Dina
Total Revenues
Sale discount
Sale Return & Allowance

Net sales
COGS
Gross profit

Expenses
Expenses-cleaning
Expenses-advertising
Expenses-machine repair
Expense-buy car
Expense-sponsors
Expense- interest
Expense-salaries
Expenses-taxes
Depreciation expense
Total Expenses

Net income
TEMENT

200
280
240
200
800
30
880
400
1,600
1,200
800
560
tal Revenues 7190
70
80

7040
3,540
3,500

20
200
360
450
400
29,9
5,680
150
1,003
tal Expenses 8263

-4,763
[KIMO HATS COMPANY Module 5: OWNER'S EQUITY

KIMO HATS COMPANY, Capital 01/12/2022

Investment by owner 203,000
Plus: Net income -4763
Total Withdrawal
Less: 198,237
by owner 1,200
KIMO, Capital 31/3/2022 197,037
[Kimo Hats Company] Module 6: BALANCE SHEET

Assets Liabilities and Owner's Equ

Current Assets Current Liabilities
Cash $111,200
Accounts receivable -$20
Supplies $1,300 Total curren
Inventory $33,660 Long-Term Liabilities
Prepaid rent $750
Prepaid inssurance 410 Total long-term
Total current assets $147,300 Owner's Equity
Fixed (Long-Term) Assets
Equipment $3,120
Land $49,917
Total fixed assets $57,037 Total ow
Total Assets $200,337 Total Liabilities and Owner

{42}
NCE SHEET

abilities and Owner's Equity

rrent Liabilities
Accounts payable $1,000

Total current liabilities $1,000

ng-Term Liabilities
Loan Payable $2,300
Total long-term liabilities $2,300
wner's Equity
Ower capital $203,000
Net income -$4,763
Withdrawals $1,200
Total owner's equity $197,037
otal Liabilities and Owner's Equity $200337
 Cash flow Statement
Cash flow fromCash
Operating activities
received from
customer
Cash recieved from repair 6280
service 20
Cash paid to supplies 1300
Cash paid to insurance 500
Cash paid to cleaning 20
Cash paid to inventory 39600
Cash paid to advertising cost 200
Cash paid to tax 150
Cash paid for wage 5680
Cash paid to prepaid rent 1500
Cash paid to repair machine 360
Cash paid to buy car 450
Cash paid to interest 29.9
Net Cash flow from Operating Activities -43489.9
Cash flow from Investing activities
Addition to equipment 200
Net Cash flow from Investing Activities 200
Cash flow from Financing activities
Proceed from capital
Proceed from loan 2300
contribited 151,800

Net Cash flow from Financing Activities 154,100

Net increase in cash 111,200