Quiz PENGANTAR AKUNTANSI 1

Suci Holy Company was started on August 1, 2015. The following transactions
occurred during August 2015.
Aug 01
Aug 02

Shareholders invested $100,000 cash in exchange for ordinary shares.

Paid $6,000 cash for one year insurance policy (record as expense).

Aug 07
Hired four employees to begin work on August 10. Each employee
receive a weekly salary of $250 for a 5-day work week, payable every two weeks.
First payment made on August 21.
Aug 09 Purchased office supplies costing $4,000 from Langgeng Company. Half of it
was paid on account and the remaining was paid by cash.
Aug 10
Received $6,000 cash in advance from a client for services that are
expected to be completed by January 31.
Aug 13

Buy a machine for $10,000 cash.

Aug 17
August 09)

Paid $1,000 to Langgeng Company. (refer to transaction ocurred on

Aug 21

Paid employee salaries in cash.

Aug 27

Paid $4,000 for electricity.

Aug 30

Declared and paid $100 dividend.

1. Journalize the transactions occurred in August.

2. Journalize the following adjustments on December 31, 2015.
a. Adjust the insurance.
b. Supplies were $2,000 on hand.
c. Service provided but unbilled at December 31 was $5,000.
d. Completed 5/6 of service for a client (refer to Aug 10).
e. Depreciation of equipment was $200 per month.
3. Complete the worksheet.

Suci Holy Company

DATE
2015
Aug 01

General Journal
For the Month Ended August 31, 2015
ACCOUNT TITLE
DEBIT
Cash
Share Capital-Ordinary

$ 100,000

Insurance Expense
Cash

$ 6,000

Aug 07

NO ENTRY

Aug 09

Supplies
Cash
Account Payable

$ 4,000

Cash
Unearned Service Revenue

$ 6,000

Equipment
Cash

$ 10,000

Account Payable
Cash

$ 1,000

Salaries and Wages Expense

Cash
(4 employees x 2 weeks x
$250)

$ 2,000

Utilities Expense
Cash

$ 4,000

Dividend
Cash

$ 100

Aug 02

Aug 10
Aug 13
Aug 17
Aug 21

Aug 27
Aug 30

NO.
1
2

CREDIT
$ 100,000
$ 6,000
$ 2,000
$ 2,000
$ 6,000
$ 10,000
$ 1,000
$ 2,000

$ 4,000
$ 100

Suci Holy Company

Adjusting Entries
For the Month Year Ended December 31, 2015
ACCOUNT TITLE
DEBIT
CREDIT
Prepaid Insurance
$ 2,500
Insurance Expense
$ 2,500
Supplies Expense
Supplies

$ 2,000
$ 2,000

3
4
5

Account Receivable
Service Revenue

$ 5,000

Unearned Service Revenue

Service Revenue

$ 5,000

Depreciation Expense
Accumulated DepreciationEquipment

$ 5,000
$ 5,000
$ 1,000
$ 1,000