ASSIGNMENT-1

PRINCIPLE ACCOUNTING 1
LECTURER : MRS. TUTUT

Name : Silva Andini Yunia

Student ID : 2210103023

1. Presented below is the basic accounting equation (in thousands).

  Assets Liabilities Equity

(a) 90,000 50,000 40,000

(b) 115,000 45,000 70,000

(c) 94,000 34,000 60,000

(a) Equity = Assets - Liabilities

90,000 - 50,000

= 40,000

(b) Assets = Liabilities + Equity

45,000 + 70,000

= 115,000

(c) Liabilities = Assets - Euqity

94,000 - 60,000

= 34,000

2. At the beginning of the year, Grizwald Company had total assets of €870,000 and total liabilities of
€500,000.

(a) total assets increased €150,000 and total liabilities decreased €80,000,
what is the amount of equity at the end of the year
870,000 + 150,000
Assets =
1,020,000

500,000 - 80,000
Liabilities =
420,000

Assets - Liabilities
Equity = 1,020,000 - 420,000
600,000

(b) During the year, total liabilities increased €100,000 and equity decreased €70,000, What is
the amount of total assets at the end of the year?
 420,000 + 100,000
Liabilities =
520,000

600,000 - 70,000
Equity =
530,000

Liabilties + Equity
Assets = 520,000 + 530,000
1,050,000

(c) If total assets decreased €80,000 and equity increased €120,000 during the year, what is the
amount of total liabilities at the end of the year?
1,050,000 - 80,000
Assets =
970,000

530,000 + 120,000
Equity =
650,000

Assets - Equity
Liabilities = 970,000 - 650,000
320,000

3. (a) Assets = Liabilities + Equity

= 90,000 + (150,000 – 40,000 + 450,000 – 320,000)

= 90,000 + 240,000

= 330,000

(b) total assets of Plantation Company are $57,000; share capital ordinary $23,000;
dividend $7,000; revenue $50,000; expenses $35,000

Liabilities = Assets – Equity

= 57,000 – (23,000 – 7,000 + 50,000 – 35,000)

= 57,000 – 31,000

= 26,000

(c) Assets = 600,000

Liabilities = 2/3 Assets

= 400,000

Equity = Assets – Liabilities

= 600,000 – 400,000

= 200,000
4. Selected transactions for Spring Green Lawn Care Company are listed below.

a) Sold ordinary shares for cash to start business

b) Paid monthly rent.
c) Purchased equipment on account
d) Billed customers for services performed
e) Paid dividends.
f) Received cash from customers billed in (4).
g) Incurred advertising expense on account.
h) Purchased additional equipment for cash
i) Received cash from customers when service was performed.

Jawab :

a. modal meningkat dan asset bertambah (kas)

b. asset berkurang (kas) dan liabilities berkurang
c. asset bertambah (peralatan) dan hutang meningkat
d. asset bertambah dan modal bertambah
e. asset berkurang dan equitas berkurang
f. asset bertambah (kas) dan asset berkurang (piutang)
g. equitas berkurang dan liabilitas bertambah
h. asset berkurang (kas) dan asset bertambah (peralatan)
i. asset bertambah (kas) equitas bertambah (peralatan)

5. Bear Park, a public camping ground near the Lake Mead National Recreation Area, has compiled
the following financial information as of December 31, 2019

Camping Fee Revenue 140,000 Notes payable 60,000

General store revenue 47,000 Expenses 2019 150,000

Account payable 11,000 Supplies 2,500

Cash on hand 20,000 Share capital ordinary 20,000

Original cost on 105,500 Retained earning ?

equipment

Fair value equipment 140,000

(a) Determine net income for 2019

Revenue = Camping Fee Revenue + General store revenue
= 140,000 + 47,000
= 187,000
Expenses = Expenses 2019
= 150,000
Net Income = revenue – expenses
= 187,000 – 150,000
= 37,000
 (b) Prepare Balance Sheet for 2019
Assets Liabilities Equity
Cash on hand 20,000 Account payable 11,000 Share capital ordinary 20,000
Original cost on equipment 105,500 Notes payable 60,000 Retained earning 37,000
Supplies 2,500
total 71,000 57,000
total assets 128,000

6. Use this information from Java Company for the year ended December 31, 2020 (amount in
thousands)

Cash received from revenue from costumers Rp 600,000

Cash received for issuance of ordinary shares 280,000
Cash paid for new equipment 100,000
Cash dividends paid 20,000
Cash paid for expenses 430,000
Cash balance at januari 1,2020 30,000

Cash In = 600,000 + 280,000

= 880,000

Cash out = 100,000 + 20,000 + 430,000

= 550,000

Cash Flow = cash in – cash out

= (880,000 – 550,000) + Cash balance at januari

= 330,000 + 30,000

= 360,000

7. Tabular Analysis:

ACCOUN ACCOU RETAINED EARNINGS 

COMM
TRANSACTI CAS TS SUPPLI EQUIPM NTS
ON
ONS H  RECEIVA ES  ENT  PAYABL REVEN EXPENS DIVIDEN
STOCK 
BLE  E  UES  ES  DS 

1.   Stockho $ $
lders 10,0 10,000 
invested 00 
$10,000
cash in the
business in
 ACCOUN ACCOU RETAINED EARNINGS 
COMM
TRANSACTI CAS TS SUPPLI EQUIPM NTS
ON
ONS H  RECEIVA ES  ENT  PAYABL REVEN EXPENS DIVIDEN
STOCK 
BLE  E  UES  ES  DS 

exchange
for
common
stock.

2.   Purchas
ed $
equipment (5,00 $ 5,000 
for $5,000 0)
cash.

3.   Paid
$400 cash $
$ 400 
for   May (400)
office rent.

4.
Paid   $500 $
$ 500 
cash for (500)
supplies.

5.   Incurre
d $250
of   advertis
ing costs in $ 250  $ 250 
the Beacon
News on
account.

6.   Receive
d $4,700
in   cash $
from 4,70 $ 4,700 
customers 0
for repair
service.

7.   Declare $ $ 1,000 
d and paid (1,00
a $1,000 0)
cash   divid
 ACCOUN ACCOU RETAINED EARNINGS 
COMM
TRANSACTI CAS TS SUPPLI EQUIPM NTS
ON
ONS H  RECEIVA ES  ENT  PAYABL REVEN EXPENS DIVIDEN
STOCK 
BLE  E  UES  ES  DS 

end.

8.
Paid   part-
$
time $
(1,00
employee 1,000 
0)
salaries
$1,000.

9.
$
Paid   utility $ 140 
(140)
bills $140.

10.   Provid
ed repair
service on
$ 980 $ 980 
account to
customers
$980.

11.   Collect
ed cash of
$120
$
for   service $ (120)
120 
s billed in
transaction
(10).

$
$ $
TOTAL 6,78 $ 860  $ 500  $ 5,000  $ 250  $ 5,680  $ 1,000 
10,000  1,790 
0 

Net Income or Loss

Net Income = Revenue - Expenses

 Revenue = $5,680

 Expenses = $1,790

Net Income = $3,890