TUGAS SEBELUM UTS PENGANTAR AKUNTANSI II

Nama : Maria Volline E.S.N 203403416090

Muhammad Syifa Qolbi 203403416092
Nanda Nur Maulani 203403416085

E8-4
a.

b.

P8-1A
a.
Cafu Co.
Journal Entries

b.
Cafu Co.
T- Accounts
 Accounts Receivable
Bal. $960,000 (2) $50,000
(1) 3,315,000 (3) 2,810,000
(2) 29,000 (4) 90,000
(5) 29,000
Balance c/d 1,325,000
$4,304,000 $4,304,000

Accounts for Doubtful Accounts

(4) . $90,000 Bal. $70,000
(5) 29,000
Balance c/d 9,000
$99,000 $99,000

c.
Calculation of Bad Debts Expense for 2014

The Journal Entry is as follows

Account titles & Explanations Ref. Debit Credit
Bad Debts Expense $116,000
Allowance for Doubtful Accounts $116,000
(To record estimate of uncollectible Accounts)
Balance before adjustment $9,000
Balance needed 125,000
d. Adjustment Required $116,000
Net receivables
of 2013 : $960,000 - $70,000 = $890,000
Net receivables of 2014 : $1,325,000 - $125,000 = $1,200,000
Average Net receivable : ($890,000 + $1,200,000) / 2 = $1,045,000
Accounts Receivable Turnover Ratio = Net Sales / Average Net receivables
= $3,315,000 / $1,045,000
= 3.17 times

P8-3A
a.
Sycamore Company
Adjusting Entry
Date Account titles Ref Debit Credit
Dec.31,2014 Bad Debts Expense ($41,730 - $9,000) $32,730
Allowance for Doubtful Accounts $32,730

Sycamore Company
 (Ledger Accounts)
Bad Debts Expense
Date Explanation Ref Dr. Cr. Balance
Dec.31,2014 Adjusting Entry $32,730 $32,730

Allowance for Doubtful Accounts

Date Explanation Ref Dr. Cr. Balance
Dec.31,2014 Adjusting Entry $32,730 $32,730

b.
(1) .
Sycamore Company
Journal Entry
Date Account titles Ref Debit Credit
Mar.31,2015 Allowance for Doubtful Accounts $1,000
Accounts Receivable $1,000

(2)
Sycamore Company
Journal Entry
Date Account titles Ref Debit Credit
May.31,2015 Accounts Receivable $1,000
Allowance for Doubtful Accounts $1,000
Cash $1,000
Accounts Receivable $1,000

Allowance for Doubtful Accounts

Date Explanation Ref Dr. Cr. Balance
Dec.31,2014 Balance $9,000
Dec.31,2014 Adjusting Entry $32,730 $41,730
Mar.31,2015 $1,000 $40,730
May.31,2015 $1,000 $41,730

c.
Sycamore Company
Adjusting Entry
Date Account titles Ref Debit Credit
Dec.31,2015 Bad Debts Expense ($31,600 - $800) $30,800
Allowance for Doubtful Accounts $30,800

P8-3B
a.
Garry Owen Company
Adjusting Entry
 Date Account titles Ref Debit Credit
Dec.31,2014 Bad Debts Expense ($54,250 - $14,000) $40,250
Allowance for Doubtful Accounts $40,250

Garry Owen Company

(Ledger Accounts)
Bad Debts Expense
Date Explanation Ref Dr. Cr. Balance
Dec.31,2014 Adjusting Entry $40,250 $40,250

Allowance for Doubtful Accounts

Date Explanation Ref Dr. Cr. Balance
Dec.31,2014 Adjusting Entry $40,250 $40,250

b.
(1)
Garry Owen Company
Journal Entry
Date Account titles Ref Debit Credit
Mar.1,2015 Allowance for Doubtful Accounts $1,900
Accounts Receivable $1,900

(2)
Garry Owen Company
Journal Entry
Date Account titles Ref Debit Credit
May.1,2015 Accounts Receivable $1,900
Allowance for Doubtful Accounts $1,900
Cash $1,900
Accounts Receivable $1,900

Allowance for Doubtful Accounts

Date Explanation Ref Dr. Cr. Balance
Dec.31,2014 Balance $14,000
Dec.31,2014 Adjusting Entry $40,250 $54,250
Mar.1,2015 $1,900 $52,350
May.1,2015 $1,900 $54,250

c.
Garry Owen Company
Adjusting Entry
Date Account titles Ref Debit Credit
Dec.31,2015 Bad Debts Expense ($42,300 - $3,400) $38,900
Allowance for Doubtful Accounts $38,900

CP8
E9-1
(a) Under the cost principle, the acquisition cost for a plant asset includes all expenditures necessary to acquire the asset and make it
ready for its intended use. For example, the cost of factory machinery includes the purchase price, freight costs paid by the
purchaser, insurance costs during transit, and installation costs.
(b) 1. Land

EXERCISE 9-9

(a) Type of Asset Building Warehouse

Book value, 1/1/14 $648,000 $82,000
Less: Residual value 18,000 3,700
Depreciable cost $630,000 $78,300

Remaining useful life in years 42 15

Revised annual depreciation $ 15,000 $ 5,220

(b) Dec. 31 Depreciation Expense .............................. 15,000

Accumulated Depreciation—Buildings....................................... 15,000

EXERCISE 9-5
(a) Depreciation cost per unit is R$1.30 per mile
[(R$145,000 – R$15,000) ÷ 100,000].
(b) Computation End of Year
Year Units of Depreciation Annual Accumulated Book
Activity X Cost /Unit= Depreciation Expense Depreciation Value

2014 26,000 R$1.30 R$33,800 R$ 33,800 R$111,200

2015 32,000 1.30 41,600 75,400 69,600
2016 25,000 1.30 32,500 107,900 37,100
2017 17,000 1.30 22,100 130,000 5,000
(a) Jan. 1 Notes Receivable ........................................... 1,500
Accounts Receivable—
Leon Company..................................... 1,500

3 Allowance for Doubtful Accounts................. 780

Accounts Receivable ............................. 780

8 Inventory ......................................................... 17,200

Accounts Payable................................... 17,200

11 Accounts Receivable ..................................... 25,000

Sales Revenue ........................................ 25,000

Cost of Goods Sold........................................ 17,500

Inventory ................................................. 17,500

15 Cash ................................................................ 1,164

Service Charge Expense ............................... 36
Sales Revenue ........................................ 1,200

Cost of Goods Sold........................................ 780

Inventory ................................................. 780

17 Cash ................................................................ 22,900

Accounts Receivable ............................. 22,900

21 Accounts Payable .......................................... 16,300

Cash......................................................... 16,300
24 Accounts Receivable ..................................... 330
Allowance for Doubtful Accounts ......... 330

Cash ................................................................ 330

Accounts Receivable ............................. 330

27 Supplies .......................................................... 1,400

Cash......................................................... 1,400

31 Other Operating Expenses ............................ 3,218

Cash......................................................... 3,218
 Adjusting Entries

Jan. 31 Interest Receivable ........................................ 10

Interest Revenue ($1,500 X 8% X 1/12) ....... 10

31 Bad Debt Expense [($19,600 X 5%) – 630

($800 – $780 + $330)] .................................. 630
Allowance for Doubtful Accounts .........

31 Supplies Expense .......................................... 930

930
Supplies ($1,400 – $470) ........................

(b) VICTORIA COMPANY

Adjusted Trial Balance
January 31, 2014

Debit Credit
Cash............................................................. $16,576
Notes Receivable........................................ 1,500
Accounts Receivable ................................. 19,600
Allowance for Doubtful Accounts............. 980
Interest Receivable..................................... 10
Inventory ..................................................... 8,320
Supplies ...................................................... 470
Accounts Payable ...................................... 9,650
Share Capital—Ordinary ........................... 20,000
Retained Earnings ...................................... 12,730
Sales Revenue ............................................ 26,200
Cost of Goods Sold .................................... 18,280
Supplies Expense....................................... 930
Bad Debt Expense ...................................... 630
Service Charge Expense ........................... 36
Other Operating Expenses ........................ 3,218
Interest Revenue ........................................ 10
$69,570 $69,570
(b) Optional T accounts for accounts with multiple transactions

Cash
1/1 Bal. 13,100 1/21 16,300 Supplies
1/15 1,164 1/27 1,400 1/27 1,400 1/31 930
1/17 22,900 1/31 3,218 1/31 Bal. 470
1/24 330
1/31 Bal. 16,576 Accounts Payable
1/21 16,300 1/1 Bal. 8,750
1/8 17,200
Accounts Receivable 1/31 Bal. 9,650
1/1 Bal. 19,780 1/1 1,500
1/11 25,000 1/3 780
1/24 330 1/17 22,900 Sales Revenue
1/24 330 1/11 25,000
1/15 1,200
1/31 Bal. 19,600
1/31 Bal. 26,200

Allowance for Doubtful Accounts Cost of Goods Sold

1/3 780 1/1 Bal. 800 1/11 17,500
1/24 330 1/15 780
1/31 630 1/31 Bal. 18,280
1/31 Bal. 980

Inventory
1/1 Bal. 9,400 1/11 17,500
1/8 17,200 1/15 780
1/31 Bal. 8,320
(c) VICTORIA COMPANY
Income Statement
For the Month Ending January 31, 2014

Sales revenue .................................................. $26,200

Cost of goods sold .......................................... 18,280
Gross profit...................................................... 7,920
Operating expenses ........................................
Other operating expenses....................... $3,218
Supplies expense..................................... 930
Bad debt expense .................................... 630
Service charge expense .......................... 36
Total operating expenses ............................... 4,814
Income from operations.................................. 3,106
Other income and expense.............................
Interest revenue ....................................... 10
Net Income ....................................................... $ 3,116
 VICTORIA COMPANY
Retained Earnings Statement
For the Month Ending January 31, 2014

Retained Earnings, January 1.......................................... $12,730

Add: Net income ............................................................... 3,116
Retained Earnings, January 31........................................ $15,846

VICTORIA COMPANY
Statement of Financial Position January
31, 2014

Assets

Current assets
Supplies ................................................... $ 470
Inventory .................................................. 8,320
Notes receivable...................................... 1,500
Accounts receivable................................ $19,600
Less: Allowance for doubtful
accounts ....................................... 980 18,620
Interest receivable ................................... 10
Cash.......................................................... 16,576
Total assets ..................................................... $45,496

Equity and Liabilities

Equity
Share capital—ordinary ......................... $20,000
Retained earnings ................................... 15,846 $ 35,846
Current liabilities
Accounts payable.................................... 9,650
Total equity and liabilities .............................. $45,496