PROGRAM STUDI AKUNTANSI

Fakultas Ekonomi - Universitas Sanata Dharma

Mrican Tromol Pos 29 Yogyakarta 55002

UJIAN TENGAH SEMESTER

SEMESTER GENAP T.A. 2019/2020

No. urut presensi_NIM_Nama Mahasiswa_ UTS AK 1 (Kelas….)

Jawaban Soal 1
Mei 1 Petty Cash $2,500
Cash $2,500
Mei 10 Inventory (Transportation in) $1,000
Supplies expense $350
Postage expense $430
Accounts Receivable-employees $200
Miscellaneous expense $400
Cash Over and Short $80
Cash $2,300
Mei 20 Petty Cash $500
Cash $500

Jawaban Soal 2

Date Accounts Debit Credit

July 1 Accounts Receivable $100.000
Sales Revenue $100.000
5 Cash $18.800
Loss on account receivable ($20.000 x 6%) $1.200
Accounts Receivable $19.600
Sales Discount ($20.000 x 2%) $400
20 Allowances for Doubtful Accounts $60.000
Accounts Receivable $60.000
31 Cash $6.000
Accounts Receivable ($60.000 x 10%) $6.000
Accounts Receivable [$60.000-(10% x $60.000)] $54.000
Allowances for Doubtful Accounts $54.000

Jawaban Soal 3
 a. Bad Debt Expense $43,000
Allowances for Doubtful Accounts $43,000*

* 5% or 0,05 x $800,000 = $40,000. And then $40,000 + $3,000 = $43,000

b. Bad Debt Expense $20,000

Allowances for Doubtful Accounts $20,000*
* 1% or 0,01 x $2000,000 = $20,000

Soal 4 (25):
Ripken Supply Co. has the following transactions related to notes receivable during the last 2
months of 2020.
Nov. 1 Loaned $40,000 cash to Linda Waters on a 1-year, 10% note.
Dec. 11 Sold goods to Wainwright, Inc., receiving a $10,800, 90-day, 8% note.
16 Received an $10,000, 6-month, 9% note in exchange for Don Garbo's outstanding
accounts receivable.
31 Accrued interest revenue on all notes receivable.
Instructions
(a) Journalize the transactions for Ripken Supply Co.

Nov. 1 Note Receivable $40,000

Cash $40,000
Dec. 11 Note Receivable $10,800
Sales Revenue $10,800
16 Notes Receivable $10,000
Accounts Receivable-Garbo $10,000
31 Interest Receivable $752.17
Interest Revenue $752.17

* Linda’s Note : $40,000 x 10% x 2/12 = $666.67

Wainwright’s Note : $10,800 x 8% x 20/360 = $48
Garbo’s Note : $10,000 x 9% x 15/360 = $37.5
Total accrued interest =$

(b) Determine the maturity date and journalize the collection of the Waters note at its
maturity in 2021.
Nov 1. Cash $43,666.67
Interest Receivable $666.67
Interest Revenue $3,000*
Notes Receivable $40,000
* $40,000 x 9% x 10/12 = $3,000

Jawaban Soal 5
(a) Cash $470,000
Due from factor (4% x $500,000) $20,000
Less on sales of receivables (2% x $500,000) $10,000
Accounts Receivable $500,000
(b) Account Receivable $500,000
Due to Covid Corp. $20,000
Financing Revenue $10,000
Cash $470,000

(c) Cash received (94% x 500,000) $470,000

Due from factor (4% x 500,000) $20,000
Less on sale of receivables (2% x 500,000) $10,000
Accounts Receivable $500,000