Soal 1

Angela Lansbury Company deposits all receipts and makes all payments by check. The
following information is available from the cash records.

Instructions
Prepare a bank reconciliation going from balance per bank and balance per book to correct
cash balance !

Soal 2

Shania Twain Company was formed on December 1, 2013. The following information is
available from Twain’s inventory records for Product BAP.

A physical inventory on March 31, 2014, shows 1,600 units on hand.

Instructions
Prepare schedules to compute the ending inventory at March 31, 2014, under Weighted-
average inventory method
Soal 3

Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2014, at 102%
(premium bond payable). Interest is payable semiannually on July 1 and January 1. Dion
Company uses the straight-line method of amortization for bond premium or discount..

Instructions
Prepare the journal entries to record the following.

a) The issuance of the bonds.

b) The payment of interest and the related amortization on July 1, 2014.
c) The accrual of interest and the related amortization on December 31, 2014

Soal 4

During 2010, George Winston Corporation spent $170,000 in research and development costs.
As a result, a new product called the New Age Piano was patented. The patent was obtained on
October 1, 2010, and had a legal life of 20 years and a useful life of 10 years. Legal costs of
$18,000 related to the patent were incurred as of October 1, 2010.

Instructions

Prepare all journal entries required in 2010 and 2011 as a result of the transactions above!