On June 1, C invested 800,000,000 VND cash in the company and received from the supplier some spare equipment worth 10,000,000 VND as a gift.
On June 1, C invested 800,000,000 VND cash in the company and received from the supplier some spare equipment worth 10,000,000 VND as a gift. The company rents a building that focuses on evaluating the operation as well as a warehouse for 350,000,000 VND per month, and the company prepaid it in cash. (1) On June 2, KCt spends 2,600,000 VND to purchase stationary equipment and paid in cash. The company provides consulting services of 28,000,000 VND and rents its test facilities for 200,000,000 VND to a podiatric services center. (3) KCt company purchased wood, paint from a supplier for 28,000,000 VND on July 3 on credit terms from PenFur Supply Company. (3) On June 4, KCt has used the housing cleaning service of Housing Services Company to clean and decorate the office for 70,000,000 VND. By prearrangement, KCt company delayed the payment in two installments, one June 12 and on June 18. (4) KCt Company purchased furniture from Furniture Company for 27,000,000 vnd on June 5 under Credit terms. (5) On June 7, in order to develop the brand more, the company hired the company to run product ads on social networks for 15,000,000 VND in cash. (6) On June 8, company paid 3,000,000 VND for electricity and 1,000,000 VND for cleaning the warehouse in cash. (7) On June 9, company paid 27,000,000 VND in cash to Furniture Company, paid 55,000,000 VND in cash to Wood Production Company, paid 10,000,000vnd in cash to Paint Company. (8) The company imported merchandise for 40,000,000 VND from Wood Production Company and paint for 13,000,000 VND from Paint Company on June 11 under Credit. The shipping cost of the company is 300,000vnd in cash. The total amount of merchandise inventory is 53,000,000 vnd. (9) KCt sold 5 meeting tables for 50,000,000 VND on June 12, known the merchandise has cost 30,000,000 VND. At the same time that day, the company pays 40,000,000 VND to the Housing Services Company in cash as agreed before. (10) On June 17, the company made a prepayment of 32,000,000 VND in cash for 4 employees. Because of wanting to promote more advertising, the company continued to spend another 2,000,000 VND on advertising in cash. (11) As agreed before, KCt company has paid the remaining 30,000,000 VND to Housing Services Company in cash on June 18. (12) Company received a turnover of 24,000,000 vnd in cash, known the merchandise inventory cost 13,000,000vnd on June 19. (13) The company purchased 70,000,000 VND of wood from the Wood Production Company and 40,000,000 VND for the Paint Company on June 20 under credit terms of 26/6. The total amount of merchandise inventory is 110,000,000 VND. (14) On June 21, due to some defective and moldy goods, using substandard products, the company returned it to the Wood Company. Merchandise was priced at 30,000,000 VND (KCt company’s total debt to Food company decreased from 70,000,000 VND to 40,000,000 VND). (15) The owner of KCt withdrew 60,000,000 VND cash for personal use on June 23. (16) KCt company has collected 22,000,000vnd in sales from Facebook sales channel, known the merchandise inventory cost 17,000,000vnd on June 25. The shipping cost of the company is 300,000 VND in cash. (17) On June 26, KCt Company paid 40,000,000 VND cash to Wood Production Company and paid 30,000,000 VND in cash to Paint Company. The total amount the company has paid in cash is 70,000,000 VND. (18) Company paid the June salary to the officers in cash for 18,000,000 VND on June 27. Because of wanting to promote more advertising, the company continued to spend another 2,000,000 VND on advertising in cash. (19) On June 29, KCt earned revenue by selling furniture cabinets to customers and collected 60,000,000 VND cash, known the merchandise inventory has cost 26,000,000 VND. (20) Due to the damaged corrugated iron roof, the company had to pay 1,000,000 VND in cash to fix the problem on June 30. In addition, the company also had to pay 400,000 VND for the telesales department’s phone. The total amount of cash the company has to pay for these 2 bills for 1,400,000 VND. At the same time, the company also achieved revenue of 45,000,000 VND and the merchandise has cost 21,000,000 VND. (21) Questions: a. Prepare income statement. b. Prepare balance sheet. c. Prepare cash flow.
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