1. Utama Ltd issued a 20 year mortgage note payable on January 1, 2017.

At December 31, 2017,

the unpaid principal balance will be reported as :
a. A current liability
b. A non-current liability
c. Part current and part non-current liability
d. Interest payable
2. Bennie Co. has decided to sell one of its old manufacturing machines on June 30, 2017. The
machine was purchased for $80.000 on January 1, 2013, and was depreciated on a straight line
basis for 10 years assuming no residual value. If the machine was sold for $26.000, what was the
amount of the gain or loss recorded at the time of the sale?
a. $18.000
b. $54.000
c. $22.000
d. $46.000
Penjelasan :Acc depreciation as of June 30, 2017, is ($80.000/10)x4,5 years =
$36.000
The cost machine less acc depreciation = $80.000-$36.000 = $44.000
The loss recorded at the time of sale = $26.000-$44.000= -$18.000
3. Which of the following statement is false?
a. Ownership of ordinary shares gives the owner a voting right.
b. The equity section begins with a share capital section.
c. The Authorization of share capital does not result in a formal accountinh entry.
d. Par value and market price of a company’s share are always the same.
4. A Company writes a check to replenish a $100 petty cash fund when the fund contains receipts
of $94 and $4 in cash. In recording the check, the company should …
a. Debit cash over and short for $2
b. Debit petty cash $94
c. Credit cash for $94
d. Credit petty cash for $2
Penjelasan : $100-($94+$4) = $2
When this check is recorded, the company should debit Cash Over and Short for the
shortage of $2.
5. In a Bank reconciliation, deposits in transit are …
a. Deducted from the book balance
b. Added to the book balance
c. Added to the bank balance
d. Deducted from the bank balance
 IsianSingkat
1. Under the …. , companies record transactions that change a company’s financial statements in
the periods in which the events occur. (accrual basic)
2. The …. States that assets and liabilities should be reported at fair value. (fair value principle)
3. The ownership claim on a company’s total assets is called … (equity)
4. A …. Presents the revenues and expenses and resulting net income or net loss for a specific
period of time. (income statement)
5. The amount by which revenues exceed expense is called … (net income)
6. International accounting standards set by the International Accounting Standards Board (IASB)
is … (IFRS)
7. A list of accounts and their balances after the company has made all adjustment is called ….
(Adjusted Trial Balance)
8. The assumption that the company will continue in operation for the foreseeable future is called
… (going concern assumption)
9. Kewajiban yang dicatat ketika perusahaan menerima kas dari konsumen, sebelum perusahaan
melaksanakan kewajibannya untuk memberikan barang atau jasa kepada konsumen disebut ….
(Unearned revenue)
10. The process if comparing the bank’s balance of an account with the company’s balance and
explaining any differences to make them agree is called … (Bank reconciliation)