GROUP ASSIGNMENT COVER SHEET

STUDENT DETAILS

Student name: Nguyen Bich Vy Student ID number: 22003388

Student name: Nguyen Huu Thang Student ID number: 23006243

Student name: Nguyen Van Anh Son Student ID number: 23005676

Student name: Nguyen Trung Kien Student ID number: 23005493

Student name: Nguyễn Nhật Huy Student ID number: 23005034

UNIT AND TUTORIAL DETAILS

Unit name: Principle of Accounting Unit number: PA-T12324PWB-3

Tutorial/Lecture: Tutorial Class day and time: Wed, 8h30-10h30
Lecturer or Tutor name: Ms. Thuy Pham
ASSIGNMENT DETAILS

Title: Bi-weekly 2 - Group 6

Length: Due date: 12/10/2023 Date submitted: 12/10/2023

DECLARATION
✓ I hold a copy of this assignment if the original is lost or damaged.
I hereby certify that no part of this assignment or product has been copied from any other student’s work or
✓
from any other source except where due acknowledgment is made in the assignment.
I hereby certify that no part of this assignment or product has been submitted by me in another
✓ (previous or current) assessment, except where appropriately referenced, and with prior permission
from the Lecturer / Tutor / Unit Coordinator for this unit.
No part of the assignment/product has been written/ produced for me by any other person except
✓
where collaboration has been authorized by the Lecturer / Tutor /Unit Coordinator concerned.

Student’s signature: Vy
Student’s signature: Thang
Student’s signature: Son
Student’s signature: Kien
Student’s signature NhatHuy
Question 1:

ADJUSTMENT
Date Account Title Debit Credit
31 Dec Insurance Expense 600
Prepaid Insurance 600
31 Dec Supplies Expense 350
Supplies 350
31 Dec Depreciation Expense 2100
Accumulated Depreciation 2100
31 Dec Salaries Expense 780
Salaries Payable 780
31 Dec Unearned Revenue 400
Service Revenue 400

PREPAID INSURANCE ACCOUNT

Dec. 31 1,400 600 Dec. 31
Bal. 800

INSURANCE EXPENSE ACCOUNT

Dec. 31 600
Bal. 600

SUPPLIES ACCOUNT
Dec. 31 700 350 Dec. 31
Bal. 350

SUPPLIES EXPENSE
Dec. 31 350
Bal. 350

DEPRECIATION EXPENSE ACCOUNT

Dec. 31 2,100
Bal. 2,100
 Accumulated Depreciation – Professional Library
Account
310,000 Dec. 31
2,100 Dec. 31
Bal. 312,100

SALARIES EXPENSE
Dec. 31 2,600 2,100 Dec. 31
Bal. 500

SALARIES PAYABLE
DEBIT CREDIT
780 Dec. 31
Bal. 780

UNEARNED REVENUE
DEBIT CREDIT
Dec. 31 400 1,600 Dec. 31
Bal. 1,200

SERVICE REVENUE
DEBIT CREDIT
16,900 Dec. 31
400 Dec. 31
Bal. 17,300
Question 2:

Closing Entries
Date Account Title Reference Dr Cr
Jun. 30 Service Revenue 403 43,800
Income Summary
43,800
(to close revenue account) 901
Income summary
Jun. 30 901 29,900

Salaries Expense 622 22,000

Insurance Expense 637 2,500
Supplies Expense 652 2,200
Rent
(To close expense 640 3,200
account)
Jun. 30 Income summary 901 13,900
Owner's Capital
(To close net income to 301 13,900
capital)
Jun. 30 Owner's Capital 301 7,000
Owner's Drawing
(To close drawings to 302 7,000
capital)

Americano Company
Post-Closing Trial Balance
June 30, 2019
Dr Cr
Cash $19,000
Supplies 11,500
Prepaid Insurance 3,000
Equipment 24,000
Account Depreciation-Equipment $3,000
Owner's Capital 54,500
Total $57,500 $57,500