Final Answer:
Here is the journal entry in English for the given transactions:
I. Beginning of the Month Balance (as of March 1): Account 333
Debit: $2,000,000 (Specifically, Account 33311: $2,000,000)
II. Transactions During the Month:
- Cash payment of property tax for the year:
Debit: Property Tax Expense: $3,000,000
Credit: Cash: $3,000,000
- Receipt of notice for land tax during the period:
Debit: Land Tax Expense: $2,000,000
Credit: Accounts Payable: $2,000,000
- Payroll expenses during the period:
Debit: Sales Department Salary: $550,000
Debit: Management Salary: $60,000
Credit: Accounts Payable: $610,000
- Purchase of a used car, paid registration fee:
Debit: Vehicle Registration Cost: $6,000,000
Credit: Cash: $6,000,000
- Receipt of notice for provisional quarterly corporate income tax:
Debit: Corporate Income Tax Expense: $10,000,000
Credit: Accounts Payable: $10,000,000
- Sales of products during the month:
Debit: Sales Revenue: $100,000,000
Credit: Gross Sales (excluding tax): $90,909,090
Credit: Uncollected VAT: $9,090,909
Credit: Accounts Payable (uncollected from customers): $50,000,000
Credit: Receivable by TGNH: $30,000,000
Credit: Cash Sales: $20,000,000
- Return of products from customers, entry into inventory, and reduction of accounts receivable:
Debit: Inventory: $800,000
Credit: Accounts Payable (reduction of customer debt): $800,000
- Deduction of input VAT for the month:
Debit: Deductible Input VAT: $12,000,000
Credit: Accounts Payable: $12,000,000
- Transfer of provisional payment for taxes:
Debit: Pay VAT: $2,000,000
Debit: Pay Corporate Income Tax: $22,500,000
Debit: Pay Provisional Corporate Income Tax: (amount not specified)
Debit: Pay Personal Income Tax for Employees: (amount not specified)
Credit: Bank: (amount not specified)
Note: The exact amounts for the provisional corporate income tax and personal income tax for employees need to be provided or estimated to complete the entries accurately.
Step-by-step explanation:
Beginning of the Month Balance:
The company starts the month with a balance in Account 333, specifically in Account 33311.
Transactions During the Month:
The company incurs various expenses and pays taxes throughout the month.
Notable transactions include:
Cash payment for property tax.
Receipt of notice for land tax.
Payroll expenses for different departments.
Purchase of a used car with registration fee.
Receipt of notice for provisional quarterly corporate income tax.
Sales of products with different payment methods (cash, credit, etc.).
Return of products from customers, adjusting inventory and accounts receivable.
Deduction of input VAT for the month.
Transfer of provisional payments for various taxes.
Each transaction involves debits and credits to different accounts based on the nature of the transaction. These entries are essential for accurate record-keeping and financial reporting.