Group 7 Class 1326 S2234 Principle of Accounting FT - Tài liệu tham khảo | Đại học Hoa Sen

BỘ GIÁO D O ỤC VÀ ĐÀO TẠ
TRƯỜNG ĐẠI HỌC HOA SEN
MÔN: NGUYÊN LÝ KẾ TOÁN LỚP: 0200 NHÓM: 07
BÀI TIỂU LUẬN CUỐI KÌ 08/2023 BỘ GIÁO D O ỤC VÀ ĐÀO TẠ
TRƯỜNG ĐẠI HỌC HOA SEN
MÔN: NGUYÊN LÝ KẾ TOÁN LỚP: 0200 NHÓM: 07
BÀI TIỂU LUẬN CUỐI KÌ Thành viên MSSV Vũ Ngọc Long 22116987 Lê Nguyễn Phương Nam 2193383 Huỳnh Phước Tân 2182777 Phạm Tri Thức 22112844 Nguyễn Mai Uyên 22104873 08/2023 MỤC LỤC
MỤC LỤC ........................................................................................................................... 1
LỜI CAM KẾT .................................................................................................................... 2
LỜI CẢM ƠN ...................................................................................................................... 3
BẢNG ĐÁNH GIÁ MỨC ĐỘ HOÀN THÀNH CÔNG VIỆC .......................................... 4
I. CASES .......................................................................................................................... 5
II. INVENTORY COSTING ............................................................................................. 9
III. ACCOUNTING CYCLES ...................................................................................... 11
IV. LEARNING OUTCOME ........................................................................................ 20 1 LỜI CAM KẾT
“Chúng tôi đã đọc và hiểu các hành vi vi phạm liêm chính học thuật. Chúng tôi cam kết bằng chính danh sự c a mình r ủ
ằng đây là bài báo cáo nhóm chúng tôi tự thực hiện và không vi phạm liêm chính h c thu ọ
ật. Chúng tôi xin hoàn toàn chịu trách nhiệm trước nhà trường về s cam két ự này.” 2 LỜI CẢM ƠN
Lời đầu tiên, chúng em xin gửi lời cảm ơn đến khoa Kinh tế quản trị trường Đại học Hoa Sen đã
đưa môn học Nguyên lý kế toán vào giảng dạy. Đây là một môn học rất hay và cho chúng em
nhiều kiến thức bổ ích. Bên cạnh đó chúng em xin gửi lời cảm ơn sâu sắc nhất đến cô Lê Thị
Bích Thảo - người đã trực tiếp hướng dẫn e
chúng m hoàn thành bài tiểu luận này.
Trong quá trình làm bài, do hiểu biết của chúng em còn nhiều hạn chế nên bài làm khó tránh
khỏi những thiếu sót. Mong cô xem và góp ý thêm cho chúng i làm ngày càng hoàn em để bà thiện. Chúng e m xin chân thành cảm ơn! 3
BẢNG ĐÁNH GIÁ MỨC ĐỘ HOÀN THÀNH CÔNG VIỆC Thành viên MSSV Công việc Mức độ Vũ Ngọc Long
22116987 I (case 1, case 2 1,2,3) – 100% Lê Nguyễn Phương Nam 2193383 I (case 2 4,5,6,7,8,9,10) – 100% Huỳnh Phước Tân 2182777 II, IV 100% Phạm Tri Thức 22112844 III (a,b) 100% Nguyễn Mai Uyên 22104873 III (c,d) 100% 4 I. CASES 1. Case 1
Kathy and James Mohr, opened the Chip-Shot Driving Range Company on March 1, 20X3. They
invested $25,000 cash and received common stock in exchange for their investment. A caddy
shack was constructed for cash at a cost of $8,000, and $800 was spent on golf balls. The
company leased five acres of land at a cost of $1,000 per month and paid the first month’s rent.
During the first month, advertising costs totaled $750, of which $150 was unpaid at March 31,
and $1,340 was paid to members of the golf team for retrieving golf balls. All revenues from
customers were deposited in the company’s bank account. On March 15, Kathy and James
received a dividend of $1,000. A $100 utility bill was received on March 31 but was not paid. On
March 31, the balance in the company’s bank account was $18,900.
Required. How much Revenue and net income (or profit) that the company has in the business
operated? Calculate and specific explanations. Answer:
Investment and Capital Stock: Kathy and James invested $25,000 cash and received common
stock in exchange. => This does not af
fect revenue or expenses since it's an investment by the owners. (Owner’s capital) Expenses: - Caddy shack: $8,000 - Golf balls: $800
- Lease: $1,000 (for the first month)
- Advertising: $750 (total), of which $150 is unpaid - Golf team payment: $1,340
Total expenses: $8,000 + $800 + $1,000 + $750 - $150 + $1,340 = $11,740
Revenue: The revenue generated from customers isn't explicitly provided in the scenario. It's
important to note that revenue is typically earned from services provided to customers. Since the
exact revenue amount isn't given, we'll assume a revenue value.
Dividend: A dividend of $1,000 was paid to Kathy and James on March 15. Dividends are not
considered expenses; they are distributions of profits to the owners.
Utility Bill: A utility bill of $100 was received but not paid. This unpaid bill will be recorded
as a liability but won't impact revenue or expenses directly.
Ending Bank Balance: The ending bank balance on March 31 was $18,900. This is not directly
relevant to revenue or expenses
Net Income = Revenue - Expenses 5
Since the exact revenue is not given, we assume a hypothetical revenue of $30,000 for the first month.
Net Income = $15,000 - $11,740 = $3,260
(Please note that this calculation is based on the assumptions made regarding the revenue
amount. Additionally, this calculation does not take into account other potential expenses
such as the unpaid advertising cost and the unpaid utility bill, as they are not specified to impact the revenue directly). 6 2. Case 2
Tom Parkey has prepared the following list of statements about depreciation
1. Depreciation is a process of asset valuation, not cost allocation
2. Depreciation provides for the proper matching of expenses with revenues
3. The book value (carrying amount) of a plant asset should approximate its fair value
4. Depreciation applies to three classes of plant assets: land, buildings, and equipment
5. Depreciation does not apply to a building because its usefulness and revenue-producing
ability generally remain intact over time
6. The revenue-producing ability of a depreciable asset will decline due to wear and tear and to obsolescence
7. Recognizing depreciation on an asset results in an accumulation of cash for replacement of the asset
8. The balance in accumulated depreciation represents the total cost of asset that has been charged to expense
9. Depreciation expense and accumulated depreciation are reported on the income statement
10. Four factors affect the computation of depreciation: cost, useful life, salvage value, and residual value
Required: Identify each statement as true or false. If false, indicate how to correct the statement
1. False: Depreciation is a process of cost allocation, where the cost of an asset is allocated over its useful life.
2. True: Depreciation helps in matching the expenses of an asset with the revenues it generates.
3. False: The book value (carrying amount) of a plant asset may not necessarily
approximate its fair value. Fair value is determined based on market conditions and may differ from the book value.
4. True: Depreciation applies to three classes of plant assets: land, buildings, and equipment.
5. False: Buildings can also be subject to depreciation as their useful life and revenue-
producing ability may decrease over time.
6. True: The revenue-producing ability of a depreciable asset will decline due to wear and
tear and obsolescence over its useful life.
7. False: Recognizing depreciation on an asset does not result in an accumulation of cash
for replacement. Depreciation is a non-cash expense.
8. False: The balance in accumulated depreciation represents the accumulated amount of
depreciation charged to the asset over its useful life, not the total cost of the asset that has been charged to expense.
9. False: Depreciation expense is reported on the income statement, but accumulated
depreciation is reported on the balance sheet as a contra-asset account. 7
10. True: The four factors that affect the computation of depreciation are cost, useful life,
salvage value (sometimes referred to as residual value), and estimated residual value. 8