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 2017 for PT XYZ

(a) Check issued but not encashed by vendor during the December = Rp 2,200 v
(b) Dividends on shares collected by banker = Rp 2,300 v
(c) Interest Income for the month of December 2017, not recorded yet in the cashbook = Rp 1,500 v
(d) Check deposited as per Bank Statement not entered in Cash Book = Rp 3,400 v
(e) Bank recorded monthly charges of = Rp 300 v
(f) Subscription fee paid by bank as per standing instruction not recorded in Cash Book = Rp 1,200 v
(g) Uncredited check due to outstation = Rp 3,900 v

Bank Reconciliation:

Balance per Cashbook, 31 December 2017 Rp 17,000

Add:
- Deposit in Transit 3,400
- Check issued 2,200
- Dividend on share 2,300
- Interest Income 1,500

Less:
- Outstanding check 3,900
- montly charge 300
- Subcription fee 1,200

Bank Statement Amount, 31 December 2017 21,000

Accounting Test

2 PT XYZ entered into a marketing agreement with PT ABC for TV Advertisement in 1 Jul 2017.
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 2017 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 2017
Advertising Expense 900,000,000
Cash 900,000,000

b. At 31 Jul 2017

Advertising Expense (900,000,000*1/3) 300,000,000

Prepaid Advertising 3,000,000,000

c. At 30 September 2017

Advertising Expense (900,000,000*3/3) 900,000,000

Prepaid Advertising 900,000,000
he date of the agreement.
Accounting Test

3 On 17 Aug 2017, 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 2017, except for the chairs which is only 25 Units.
The rest of the other 25 units of the chairs was received 16 September 2017 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 2017
Office Equipment 45,000,000
VAT in 4,500,000
Cash 49,500,000

b. At 1 September 2017
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c. At 16 September 2017
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d. At 30 September 2017
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ed items from the vendor.

thly basis as at end of month.

Accounting Test

4 PT A and PT B is a subsidiary of PT X
a. On 1 July 2017, PT X lend money to PT A amounted to Rp 2,500,000,000 with interest of 5% per year.
b. On 25 September 2017, PT B made a payment on behalf of A amounted to Rp 15,000,000 for the marketing invoice.

c. On 30 December 2017, 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 2017
PT X PT A
Account receivable 2.375.000.000 Cash/Bank 2.625.000.000
Investment revenue 125.000.000 Account Payable
Cash/Bank 2.500.000.000 Interest Payable

b. At 25 September 2017
PT B
Account receivable 15,000,000
Cash/Bank 15,000,000

c. At 30 December 2017
PT A
Account Receivable 100,000,000
Cash/Bank 100,000,000

d. At 31 December 2017
PT B
Cash/Bank 100,,000,000
Account Receivable 100,000,000
ce.

PT B in 2 January 2018

2.625.000.000
2.500.000.000
125.000.000
Accounting Test

5 PT A has the following history of purchases and sales for each particular products:

Purchases Report

Date Product Type Quantity Unit Purchase Price Total Amount

2 Jan 2017 Prod X1 50 Rp 1,000 Rp 50,000
7 Jan 2017 Prod X2 200 Rp 710 Rp 142,000
10 Jan 2017 Prod X2 100 Rp 700 Rp 70,000
15 Jan 2017 Prod X1 50 Rp 980 Rp 49,000

Sales Report

Date Product Type Quantity Unit Sales Price Total Amount

3 Jan 2017 Prod X2 80 Rp 1,100 Rp 88,000
7 Jan 2017 Prod X1 120 Rp 1,500 Rp 180,000
11 Jan 2017 Prod X2 150 Rp 1,100 Rp 165,000
14 Jan 2017 Prod X1 90 Rp 1,600 Rp 144,000

Inventory Balance at 1 Jan 2017

Product Type Quantity Average Price Total Amount

Prod X1 250 Rp 1,025 Rp 256,250
Prod X2 400 Rp 705 Rp 282,000

a. Prepare the journal entries for the sales and the related COGS using perpetual computation and weighted average method

b. Prepare the Inventory Balance as at 31 Jan 2017 with the same assumpation in point a

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