Accounting Test

1 From the following particulars prepare a Bank Reconciliation Statement to find out the causes of difference in two balances as on 31
December 2018 for PT XYZ

(a) Check issued but not encashed by vendor during the December = Rp 2,200
(b) Dividends on shares collected by banker = Rp 2,300
(c) Interest Income for the month of December 2018, not recorded yet in the cashbook = Rp 1,500
(d) Check deposited as per Bank Statement not entered in Cash Book = Rp 3,400
(e) Bank recorded monthly charges of = Rp 300
(f) Subscription fee paid by bank as per standing instruction not recorded in Cash Book = Rp 1,200

Bank Reconciliation:

Balance per Cashbook, 31 December 2018 Rp 17,000

Add:
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Less:
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Bank Statement Amount, 31 December 2018

Accounting Test

2 PT XYZ entered into a marketing agreement with PT ABC for TV Advertisement in 1 Jul 2018.
Based on the agreement, PT ABC is obliged to air the advertisement on daily basis for the period of 3 months starting on the date of the
agreement.
PT XYZ paid the advertisement in advance on 1 Jul 2018 amounted to Rp 900,000,000

Please provide the accounting entries to be recorded by PT XYZ and PT ABC on the following date:

a. At 1 Jul 2018

PT XYZ
Advertising expense Rp 900,000,000
Cash Rp 900,000,000
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b. At 31 Jul 2018

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c. At 30 September 2018

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Accounting Test

3 On 17 Aug 2018, PT XYZ sent a purchase order to vendor to purchase the following items:
a. 50 Units of Chair for auditorium amounting to total of Rp 45,000,000
b. 3 Units of Notebook amounting to total of Rp 49,500,000 (inclusive of VAT of 10%)
c. Cables for office fit-out and servers amounting total of Rp 72,000,000

PT XYZ received all the above items on 1 September 2018, except for the chairs which is only 25 Units.
The rest of the other 25 units of the chairs was received 16 September 2018 together with the invoices of all the purchased items from the
vendor.

PT XYZ has a capitalisation policy of Rp 2,500,000 per unit independent of the item. It will compute deprecation on a monthly basis as at
end of month. Useful life of an Office Equipment is 3 years while Office Fit-Out is 5 years.

Prepare the accounting entries to be recorded on the following date:

a. At 17 Aug 2018

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b. At 1 September 2018
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c. At 16 September 2018
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d. At 30 September 2018
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Accounting Test

4 PT A and PT B is a subsidiary of PT X
a. On 1 July 2018, PT X lend money to PT A amounted to Rp 2,500,000,000 with interest of 5% per year.
b. On 25 September 2018, PT B made a payment on behalf of A amounted to Rp 15,000,000 for the marketing invoice.

c. On 30 December 2018, PT A did a bank transfer amounted to Rp 100,000,000 to which the amount is received by PT B in 2 January 2018

Prepare the accounting entries for the above transactions in each entities book at the following date:

a. At 1 July 2018

PT X Will record:
Dr. Loan receivable
Dr. Investment in subsidiary
Cr. Cash

PT A will record:
Dr. Cash
Cr. Loan payable to parent
Cr. Equity – capital contribution

b. At 25 September 2018

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c. At 30 December 2018

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d. At 31 December 2018

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