Problem 1.

1
Balance Shet
Asset Liabilities -1
Cash 12,000 Bank Loan 40,000
Inventory 95,000
Other Asset 13,000 Equity
Owner Equity 80,000
Total Asset 120,000 Total Lia + Equity 120,000

Problem 1.2
Year 1 Year 2 Year 3 Year 4
Current Assets 113,624 68,442 85,124 69,090
Non Curren Asset 410,976 198,014 162,011 151,021
Total Asset 524,600 266,456 247,135 220,111
Current Liabilities 56,142 40,220 15,583 -254,461
Non Current Liabilities 240,518 56,585 60,100 302,222
Paid In Capital 214,155 173,295 170,000 170,000
Retained Earning 13,785 -3,644 1,452 2,350
Total Liab + Equity 524,600 266,456 247,135 220,111

Problem 1.3 to estimate the Y-4 missing number, compte the typical percentage each expense ite of sale for Y1-Y3. Apply the percentage figure for each expense item to year 4 sales
Year 1 (%) Year 2 (%) Year 3 (%) Year 4 (%)
Sales 12,011 11,968 11,545 10,000
COGS 3,011 4 2,992 4 2,886 4 2,500
Gross Margin 9,000 1 8,976 1 8,659 1 7,500
Other Expense 6,201 1 6,429 1 6,296 1 5,329 1
Profit Before Taxes 2,799 0 2,547 0 2,363 0 2,171
Tax Expense 1,120 0 1,019 0 945 0 868
Net Income 1,679 1,528 1,418 1,303

0 0

Problem 1.4 an analysis of the transaction made by Acme Consulting for the Months of July is shown below

Cash AR Supplies Inv Equipment = AP

1 20,000
2 -5,000 7,000 2,000
3 -1,000 1,000
4 -4,500
5 5,000 5,000
+ + +
6 -1,500 -1,500
 + + +

7 1,000 -1,000
8 -750
9 -500
10 200
11 -200
12,750 0 4,000 0 800 0 7,000 0 700

b. Balance Shet
Asset Liabilities
Cash 12,750 AP 700
AR 4,000
Inventory 800 Equity
Equipment 7,000 Owner Equity 23,850
Total Asset 24,550 Total Lia + Equity 24,550

c. Income Statement
Sales (Product) / Revenue (Ser 10,000
Gross Margin 10,000
Expense:
Salaries 4,500
Rent 750
Utilities 500
Supplies 200
Travel 200
Total Expense 6,150
Profit Before Taxes 3,850
Tax Expense 0
Net Income 3,850

d. Cash Flow
Transaction Receipt Disbursement
Investment 20,000
Buy Equipment 5,000
Buy Inventory 1,000
Pay Wages 4,500
Receive Revenue 5,000
Pay AP 1,500
Receive cash from AR 1,000
Pay Rent 750
Pay Utilities 500
Total 26,000 13,250
 e. karena cash transaction gak semuanya masuk ke revenue

Problem 1.5 During the month of June, Bon Voyage Travel recorded the following transaction
1. Owners invested $25,000 in cash to start the business. They received common stock
2. The month's rent of $550 was prepaid in cash
3. Equipment costing $8,000 was bought on credit
4. $500 was paid for office supplies
5. Advertising costing $750 was paid for with cash
6. Paid $3,000 employee salaries in cash
7. Earned travel commissions of $10,000 of which $2,000 was received in cash
8. Paid $5,000 of the $8,000 owed to the equipment supplier
9. Used $100 of the office supplies
10. Charged $1,000 of miscellaneous expenses on the corporte credit card

a. Cash + Prepaid Rent + AR + Supplies Inv + Equipment =

1 25,000
2 -550 550
3 8,000
4 -500 500
5 -750
6 -3,000
7 2,000 8,000
8 -5,000
9 -100
10
17,200 0 550 0 8,000 0 400 0 8,000 0

b. Balance Sheet
Asset Liabilities
Cash 17,200 AP 4,000
AR 8,000
Inventory 400
Prepaid 550
Equity
Equipment 8,000 Owner Equity 30,150
Total Asset 34,150 Total Lia + Equity 34,150
d. Cash Flow
Transaction Receipt Disbursement
Investment 25,000
Prepaid rent 550
Buy office supply 500
Advertising 750
Pay salary 3,000
Get revenue 2,000
Paid Equipment 5,000

Total 27,000 9,800

c. Income Statement
Sales (Product) / Revenue (Ser 10,000
Gross Margin 10,000
Expense:
Salaries 3,000
Office Supplies 600
Ads 750
Misc 1,000
Total Expense 5,350
Profit Before Taxes 4,650
Tax Expense 0
Net Income 4,650
expense item to year 4 sales

OE Description
20,000 Investment

-4,500 Salaries
10,000 Revenues
+
+

-750 Rent
-500 Utilities
-200 Travel
-200 *konsumsi sendiri
0 23,850
AP + OE Description
25,000 Investment
Prepaid Rent
8,000 Equipment on Credit
Office supplies
-750 Ads Expense
-3,000 Salaries
10,000 Revenue
-5,000
-100 Supplies Expense
1,000 -1,000 Miscellaneous
4,000 0 30,150
Problem 2.1 Asset Liabilities Equity
a. 95,000 40,000 55,000
b. 65,000 25,000 40,000
c. 95,000 40,000 55,000 NCA : 70000
d. 88,000 15,000 73,000
95,000 25,000 70,000
CA 35,000
CL 25,000
e. CR ====== 1.40
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Problem 2.2
Nindita Cahya
Asset Kusuma
Current Asset (2021-02-10
Cash 09:45:40) 89,000
Marketable Securities
investasi yang 379,000
gampang dijual
Account Receivable 505,000
Inventories 513,000
Total Current Asset 1,486,000
Non Current-Asset
Land (at cost) 230,000
Building (at cost) 1,120,000
Less: Acc. Dep. on -538,000
Net Building (at cost) 582,000
Equipment (at cost) 761,000
Less: Acc. Dep. o -386,000
Net Equipment (at cost) 375,000
Long term investment 320,000

Total Non-Current Asset 1,507,000

Total Asset 2,993,000

HOLD
Problem 2.3 Cash Asset Keterangan
1 100,000
2
3 -8,500 Depre
4 -15,900 15,900 Inventory
5 9,400 Inventory
+
6
7
8
 +

9
10

Account Dr Cr
1 Cash 100,000
Capital Stock 100,000
2 Bond payable 25,000
Capital Stock 25,000
3 Depreciation Expense 8,500
Accumulated Depre 8,500
4 Inventory 15,900
Cash 15,900
5 Inventory 9,400
AP 9,400
6 AR 7,200
Retained Earning 2,700
Inventory 4,500
7 Cash 3,500
AR 3,500
8 Dividend Expense 3,000
Dividen Payable 3,000
9 Cash 3,000
Dividen Payable 3,000
10

Problem 2.4

As of June 1 As of June 30
Asset
Current Asset
Cash 50,000 22,100
Inventories 50,000 58,500
Total Current Asset 100,000
Non Current-Asset
Land (at cost) 0 25,000
 Building (at cost) 0 50,000

Total Non-Current Asset 0

Total Asset 100,000 155,600

Liabilities
Current Liabilities
Notes payable 0 50,000
Total Current Liability 0 50,000

Equity
Capital stock
Carson 50,000 43,800
Leggat 50,000 46,300
Total Capital 100,000 90,100
Retainer Earning 15,500
Total Liability & Equity 100,000 0 155,600

Cash Sales 31000

COGS 15500
Net Profit 15,500

Problem 2.5 Account

January 31 4 Cash
Asset
Current Asset COGS
Cash 12,500
Marketable Securities 8 Merchandise Inv
Account Receivable 3,400
Prepaid Insurance 2,800
Inventories 46,500 11 Cash
Total Current Asset 65,200
Non Current-Asset COGS
Land (at cost) 20,000
Building (at cost) 0 16 AR

Total Non-Current Asset 20,000 COGS

 26 Wage Expense
Total Asset 85,200
29 Land
Liabilities
Current Liabilities 31 Prepaid Insurance
AP 7,000
Notes payable 20,000
Total Current Liability 0

Equity
Capital stock
Total Capital 55,000
Retainer Earning 3,200
Total Liability & Equity 85,200

Sales 17,900
COGS 10,500
Gross Profit 7,400
Wage Expense 4,200
Net Profit 3,200

Problem 2.6
December 31 a.
Asset b.
Current Asset
Cash 2,000
Marketable Securities 3,500
Account Receivable 7,000
Total Current Asset 12,500

Non Current-Asset
Plant and equipment 8,500
Long-term investments 1,500
Total Non-Current Asset 10,000
Total Asset 22,500

Liabilities
Current Liabilities
AP 5,000
Current Portion of Bond Payable 2,000
Wages Payable 1,500
Total Current Liability 8,500
Non Current Liabilities
Bond Payable 8,000

Equity
Capital stock
Total Liability & Equity 16,500
RC 2.2
CA 33,000
CL 15,000

Balance Sheet
Liabilities
Current Liabilities
Account payable 241,000
Bonds payable 700,000
Notes payable 200,000
Estimated tax liability 125,000
Accrued Expense 107,000
Total Current Liability 1,373,000

Equity
Capital stock 1,000,000
Retained Earnings 620,000
Total Liability & Equity 2,993,000

Liability Keterangan Equity Description

100,000 Capital Stock
-25,000 Bond Payable 25,000 Capital Stock
Depreciation on plant & equipment

9,400 A/P
= +
 0
62,400 62,400
unt Dr Cr
12,000
Sales Revenue 12,000
7,000
Merchandise Inv 7,000
7,000
AP 7,000

2,500
Sales Revenue 2,500
1,500
Merchandise Inv 1,500
3,400
Sales Revenue 3,400
2,000
Merchandise Inv 2,000
 4,200
Cash 4,200
20,000
Cash 20,000
2,800

Cash 2,800

Current Ratio 1.47

1 current liability is secured by 1.47 current asset
eciation on plant & equipment
Problem 4.1

Cash Account Receivable Inventory

900 3,000 5,700
3,400 6,350 2,350
5,350 5,350
950

1,900 4,000 3,900

Account Payable Note Payable Sales Revenue

3,600 950
2,350 950
3,400

2,550 0

Problem 4.2
Entry No Account Dr. Cr
1 Prepaid Rent 14,340
Cash 14,340
2 Sales Discount and Allowance 34,150
Account Receivable 34,150
3 Interest Receivable 35
Interest Income 35
4 Depreciation Expense 13,660
Accumulated Depreciation 13,660
5 Cash 2,730
Unearned Revenue 2,730
6 Inventory of Stamps 172
Cash 172
Inventory Expense 100
Inventory 100
7 Bad Debt Expensse 1,350
Allowance for Doubtful Account 1,350

Problem 4.3
 Account Dr Cr
1
Account Payable 3,070
Account Receivable 2,160 2

4
Cash 1,440
Fixed Asset ( at cost) 6,200 5
Inventories 1,730
Note Payable (Current) 600 6
Owner Equity 4,990
7
11,530 8,660
8

10

11

Beginning

Problem 4.4 Unadjusted Journal

Account Dr Cr
Cash 119,115
Account Receivable 162,500
Merchandise Inventory 700,680
Store Equipment 215,000
 Supplies Inventory 15,475
Prepaid Insurance 38,250
Selling Expense 24,900
Sales Salaries 105,750
Misc General Expenses 31,000
Sales Discount 6,220
Interest Expense 9,300
Social Security Tax Expense 9,600
Accumulated Depreciation on store equipment 37,300
Accounts Payable 118,180
Notes Payable 143,000
Common Stock 300,000
Retained Earnings 122,375
Sales Revenue 716,935

1 COGS 302,990
Merchandise Inventory 302,990
2 Depreciation Expense 12,750
Accumulated Depreciation 12,750
3 Supplies Expense 10,265
Supplies Inventory 10,265
4 Insurance Expense 4,660
Prepaid Insurance 4,660
5 Interest Expense 3,730
Accrued Interest 3,730
6 Sale Salaries Expenses 3,575
Accrued Sale Salaries 3,575
7 Interest Receivable 390
Interest Income 390
 Inventory

4,150

Sales Revenue COGS

6,350 4,150

6,350 -4,150

11,040 12,340 Balance Sheet

 Balance Sheet
Account Dr Cr Asset
Inventory 1,300
Account Payable 1,300 Current Asset
Wage Expense 730 Cash
Cash 730 Account Receivable
Cash 1,940 Less: Allowance for
Sales Revenue 1,940 Net Account Receivale
Account Receivable 1,810 Inventory
Sales Revenue 1,810 Total Current Asset
Overhead and other expenses 900
Cash 900 Non Current-Asset
Cash 1,510 Fixed Asset
AR 1,510 Less : Accumulated D
AP 1,720 Net Fixed Asset
Cash 1,720 Total Non-Current Asset
Cash 650 Total Asset
Unearned Revenue 650
Cash 200 Liabilities
Note Payable 200 Current Liabilities
COGS 1,280 AP
Inventory 1,280 Note Payable
Depreciation Expense 300 Unearned Revenue
Accumulated Depre 300 Total Current Liability
Account Payable 3,070
Account Receivable 2,160 Non Current Liabilities
Accumulated Depreciation 2,800 Bond Payable
Allowance for Doubtful Account 70
Cash 1,440 Equity
Fixed Asset ( at cost) 6,200 Retained Earning
Inventories 1,730 Total Liability & Equity
Note Payable (Current) 600
Owner Equity 4,990

Adjusted Journal
Account Dr Cr
Cash 119,115
Account Receivable 162,500
Merchandise Inventory 397,690
Store Equipment 215,000
Supplies Inventory 5,210
Prepaid Insurance 33,590
Selling Expense 24,900
Sales Salaries 109,325
Misc General Expenses 31,000
Sales Discount 6,220
Interest Expense 13,030
Social Security Tax Expense 9,600
Accumulated Depreciation on store equipment 50,050
Accounts Payable 118,180
Notes Payable 143,000
Common Stock 300,000
Retained Earnings 122,375
Sales Revenue 716,935
Cost Of Good Sold 302,990
Depreciation Expense 12,750
Supplies Expense 10,265
Insurance Expense 4,660
Accrued Interest 3,730
Accrued Sale Salaries 3,575
Interest Receivable 390
Interest Income 390
1,458,235 1,458,235
ce Sheet Income Statement
Sales (Product) / Revenue (Service)
COGS
Gross Margin
2,390 Expense:
2,460 Wage Expense 730
70 Overhead and other 900
ccount Receivale 2,390 Depreciation Expens 300
1,750 Total Expense
6,530 Profit Before Taxes

Tax Expense
6200 Net Income
3,100
3,100
Non-Current Asset 3,100
9,630

2,650
800
650
Current Liability 4,100

Current Liabilities
0

5,530

Liability & Equity 9,630

ent
3,750
1,280
2,470

1,930
540

0
540
Problem 5.1
Assumption Yzerman's COGS is always 65% of sale, calculate how much gross
margin Yzerman will report each month (a) & revenues are recognized when the
sales is made (b) if the installment method is used
Jan Feb Mar Apr May
Sales in ($) 12,000 8,000 13,000 11,000 9,000
Collection 11,000 10,000 11,500 10,500 10,500

Problem 5.2
Giammati Construction Build House, rarely is a ahouse only partially completed as
of Dec 31. However Giamatti also build a motel, started march and expect to
complete next april. The Motel calls for a fee of $ 5 Million. Expected Total COst
$42.5 Million n $2.55 Million had been incurred as of Dec 31.

Required : Assume that, excluding the motel project, Giamatti’s income before
taxes will be $1.25 million both this year and next. What will each year’s income
before taxes be, including the motel
project, (a) if Giamatti uses the completed-contract method and (b) if it uses the
percentage-of-completion method? (Assume actual motel costs in fact turn out to
be $4.25 million.)
Which method should Giamatti use?

Problem 5.3
Alcon Company decided to write off the $3,000 Wordel Corporation receivable as
uncollectible. Subsequently, Wordel makes a $950 payment on the account.
Prepare journal
entries for these two transactions
Jun
13,500
9,500
Problem 3.1 Account Dr Cr Expense
Wages Expense 9,750 v
Cash 9,750
Obsolete Inventory 1,725 v
Allowance for Obsolete Inventory 1,725
Cash 25,000 x
Sales Revenue 25,000
Advertising expense 750 v
Cash 750
Inventory 27,000 x
Cash 27,000

Problem 3.2 Sales 275000

COGS 164000
Expenses:
Rent 3,300
Salaries 27,400
Taxes 1,375
Other 50,240
a Revenues 275,000
b Expenses: 80,940
c Net income 30,060

Problem 3.3 Purchase for the period 78,000

Beginning Inventory 27,000
Ending Inventory 31,000

COGS 74,000

Problem 3.4 Income Statement

For the Year Ended December 31
Sales Revenues 85,000
Cost of Goods Solds 45,000
Gross Margin 40,000
Expenses
Selling and Administrative Expenses 25,000
Income Before Tax 15,000
Income Taxes 6,000
Net Income 9,000

Calculate
a Gross Margin = sales-cogs 40,000
b Gross margin (%) 47.06%
 c Profit margin (%) 10.59%

Problem 3.5 Account Dr Cr

Equipment (5 year-life) 40,000
Cash 40,000
Land (at cost) 135,000
Cash 135,000
19/12 Inventory 7,000
Cash 7,000
27/12 Cash 6,000
Sales 6,000
COGS 3,500
Inventory 3,500
08/01 Cash 6,200
Sales 6,200
COGS 3,500
Inventory 3,500
01/01 Prepaid Ads 72
Cash 72

Problem 3.6
Account Dr Cr
Pre-paid insurance (October, 2 years) 30,000
Cash 30,000
31 Dec 2005 Insurance Expense 3,750
Prepaid Insurance 3,750
31 Dec 2006 Insurance Expense 15,000
Prepaid Insurance 15,000
31 Sep 2007 Insurance Expense 11,250
Prepaid Insurance 11,250

Per month 1,250

assets value as of Dec 31 2005 26,250
assets value as of Dec 31 2006 11,250
assets value as of Dec 31 2007 0

Problem 3.7 Account Dr Cr

1 Truck 19,000
Cash 19,000
2 Parts 1,600
Cash 1,600
Parts Expense 1,600
Parts Inventory 1,600
 3 Cash 20,500
AR-Service 12,900
Service Revenue 33,400
Cash 12,255
AR 12,255
Bad Debt expense 645
AR 645
4 Interest Expense 880
Interest Payable 880
5 Wages expense 10,000
Cash 8,600
Wages payable 1,400
6 Parts Expense 2,100
Parts 2,100
7 Utility expense 800
Utility Payable 700
Cash 1,500
8 Depreciation Expense 2,700
Accumulated Depreciation 2,700
9 Selling Expense 1,900
Cash 1,900
10 Tax expense 2800
Cash 2600
Tax Payable 200
11 Adm & misc. expenses 4,700
4,700

Income Statement
For the Ended April 30
Sales Revenues 33,400
Gross Margin 33,400
Expenses:
Bad debt 645
Parts expense 3,700
Wages expense 10,000
Interest expense 880
Utility expense 800
Depreciation expense 2,700
Selling expense 1,900
Adm & misc expense 4,700
Total expense 25,325
Income Before Tax 8,075
Taxes 2,800
 Net Income 5,275

Beginning Ending
Problem 3.8 Asset
Current assets
Beginning Inventory 35,000
Purchase inventory 40,000
Available Inventory 75,000
COGS 45,000
Ending Inventory 30,000
Total Current Assets 80,000
Non current assets 138,182

Total assets 218,182

Liabilities & Equity
Liabilities:
Current liabilities 50,000

Noncurrent liabilities:
Long-term debt 0 40,000
Total liabilities 0 90,000

Equity:
Owner's equity 120,000 128,182

Total liabilities & equity 218,182

Current ratio = current asset/current liability
a. Current asset: 80,000
b. Noncurrent asset: 138,182
c. Total current asset 218,182

Profit = Gross margin - expense

% = net income/sales
Gross margin = Sales - COGS
% = Gross margin/sales

45%sales = sales-45000
45000 = 55%sales
sales = 45000/55% = 81,818
Gross margin = 36,818

Statement of OE:
Cap, beginning 120,000
+profit = 10% sales 8181.82
Cap, ending 128,182