CHAPTER 4

Task 1:
In January N, Rose Company has the following information (Unit: 1.000 VND):
1. Salary payables in January N:
- Direct employees: 40.000
- Factory staffs: 2.000
- Administrative staffs: 10.000
2. Payroll related compensation is calculated according to prevail regulations.
3. Debit note No. 34 dated 31/1/2016: pay social insurance to authorities (included
payment on behalf of employees)
4. Cash payment note No.65 dated 31/1/N: pay health insurance to authorities (included
payment on behalf of employees)
5. Debit note No.35 dated 31/1/N make payment to employees after deducting all payroll
related compensation.
Requirements:
1) Calculate and make journal entries for the above transactions?
2) Record the above transactions on Journal?

Task 2:
In June N, TM company has the following information (CU: 1.000 VND):
I. Beginning balance of some accounts are as follow:
- Acc 334 (Cr.): 30,000
- Acc 338 (Cr.): 12,000
In which: Acc 3382: 2,000;
Acc 3383: 6,000;
Acc 3384: 2,000;
Acc 3386: 2,000
II. Transactions incurred in June year N:
1. Debit note No.90 dated 1/6/N: make payment to authorities regarding social insurance:
6,000, health insurance: 2.000; unemployment insurance: 2,000 and also withdraw cash at bank
to cash treasury: 30,000
2. Payment note No.112 dated 2/6/N: Make salary payment to employees for previous
period: 27,000, the remaining is withheld due to employees’ absence.
 3. Calculate salary payable incurred in the month:
- For direct labor: 600.000
- For factory staff: equal to 5% on total direct labors’ salary
- Sale staffs: 20.000
- Administrative staffs equal to 3% on total direct labors’ salary
4. Make payroll related compensation as regulated.
5. Debit note No.92 dated 30/6/N make payment to related authorities
6. The following items should be deducted from employees’ payable:
- Unspent advance: 10.000
- Compensation due to asset’s damage: 5.000
- Personal income tax: 12.500
7. Bonus based on KPI this month: for direct labour: 10.000, for factory staffs: 4.000, for
sale staffs: 1.000, and for administrative staffs: 5.000.
8. Cash receipt notes No.103 dated 30/6/N, withdraw 700,000 from bank account to cash
treasury
9. Payment note No.08 dated 30/6/N. Make payment to employees:
- Salary: 60% salary payable after deducting related items; in which 10,000 is withheld due
to employees’ absence
- Payment for withheld amount in previous month: 3.000
- Make payment for all bonus
Requirement: Prepare journal entries and record in T accounts

Task 3:
MINH NGOC company pays VAT using credit-invoice method. There were below transactions
incurred in company in December 2016 (CU: 1.000 VND):
I. Opening balance on 1/12/2016: Account 334 = 0 and Account 338 = 0
II. Transactions incurred in December 2016:
1. Calculating salary payable incurred in the month: For direct labor: 560.000, for factory
staff: 210.000, sale staffs: 180.000, administrative staffs: 160.000
2. Calculating payroll related compensation according to prevail regulations.
3. Calculating bonus which was funded by Bonus fund, in which, for direct labor: 40.000,
administrative staffs: 55.000
4. Salary deduction due to unspent advances: 12.000, personal income tax: 20.000
 5. Payment of social insurance to employees due to sickness in December: 28.000 in
which, for direct labor: 10.000, for factory staff: 18.000
6. On 31/12/2016, making full payment of salary and allowances via bank.
Required:
1. Prepare journal entries for above transactions
2. Prepare General Ledger for Account 334 for December 2016