Solution of Session 3
Solution of Session 3
-100
-3,500
7,000 Profit = Revenue - Cost of goods sold - period expenses
-2000
4,000
-1,500
3,000
-3,500
7,000
-1000
-2000
-250
0 50,000 21,000 -12,850 -1,000
57,150
generate revenue
LIABILITIES 5,000
Trade payables 5,000
EQUITY 57,150
Share capital 50,000
Retained earnings 7,150
Profit 8,150
Withdrawal -1,000
TOTAL LIABILITIES EQUITY 62,150
ASSETS
Aug-20
purchased 40 pairs of shoes VND2 million/pair
sold 30 pairs VND 3 million/pair
rent VND 20 million