Problem Topik 4
Penyesuaian Terhadap Perkiraan
P4-1 Salzer Grafics Company was organized on January 1, 2005,
by Jill Salzer. At the end of first 6 months of operations,
the trial balance contained the following account.
Debits
Cash
Accounts Receivable
Equipment
Insurance Expense
Salaries Expense
Supplies Expense
Advertising Expense
Rent Expense
Utilities Expense
Credits
$ 9,500
14,000
45,000
1,800
30,000
3,700
1,900
1,500
1,700
$109,100
Notes Payable
Account Payable
Jill Salzer, Capital
Graphic Revenue
Consulting Revenue
$ 20,000
9,000
22,000
52,100
6,000
$109,100
Analysis reveals the following additional data.
•
The $3,700 balance in Supplies Expense represent
supplies –purchased in January. At June 30, $1,300 of
supplies was on hand.
•
The note payable was issued on February 1. It is a
12%, 6-month note.
•
The balance in Insurance Expense in the premium on
a one-year policy, dated March 1, 2005.
•
Consulting fees are credited to revenue when
received. At June 30, consulting fees of $1,100 are
unearned.
•
Graphic revenue earned but unrecorded at June 30
totals $2,000
•
Depreciation is $3,000 per year.
Instruction
a) Journalize the adjusting entries at June
30. (Assume adjustment are recorded
every 6 months.)
b) Prepare an adjusted trial balance.
c) Prepare an income statement and
owner’s equity statement for the 6
months ended June 30 and a balance
sheet at June 30.
Solution 4-1
(a)
1.
2.
3.
4.
5.
6.
June 30
30
30
30
30
30
Supplies ...................................................
Supplies Expense ...........................
1,300
Interest Expense .....................................
($20,000 X 12% X 5/12)
Interest Payable ..............................
1,000
Prepaid Insurance ..................................
[($1,800 ÷ 12) X 8]
Insurance Expense.........................
1,200
Consulting Revenue...............................
Unearned Consulting Revenue .....
1,100
Accounts Receivable .............................
Graphic Revenue ............................
2,000
Depreciation Expense............................
($3,000 ÷ 2)
Accumulated Depreciation—
Equipment ...................................
1,500
1,300
1,000
1,200
1,100
2,000
1,500
(b)
SALZER GRAPHICS COMPANY
Adjusted Trial Balance
June 30, 2005
Cash.......................................................................
Accounts Receivable ($14,000 + $2,000) ..........
Supplies ................................................................
Prepaid Insurance................................................
Equipment.............................................................
Accumulated Depreciation .................................
Notes Payable ......................................................
Accounts Payable ................................................
Interest Payable ...................................................
Unearned Consulting Revenue ..........................
Jill Salzer, Capital ................................................
Graphic Revenue ($52,100 + $2,000) .................
Consulting Revenue ($6,000 – $1,100) ..............
Salaries Expense .................................................
Supplies Expense ($3,700 – $1,300) ..................
Advertising Expense ...........................................
Rent Expense .......................................................
Utilities Expense ..................................................
Depreciation Expense .........................................
Insurance Expense ($1,800 – $1,200) ................
Interest Expense ..................................................
Debit
$ 9,500
16,000
1,300
1,200
45,000
Credit
$
30,000
2,400
1,900
1,500
1,700
1,500
600
1,000
$113,600
1,500
20,000
9,000
1,000
1,100
22,000
54,100
4,900
$113,600
(c)
SALZER GRAPHICS COMPANY
Income Statement
For the Six Months Ended June 30, 2005
Revenues
Graphic revenue..............................................
Consulting revenue ........................................
Total revenues.........................................
Expenses
Salaries expense.............................................
Supplies expense............................................
Advertising expense.......................................
Utilities expense..............................................
Rent expense...................................................
Depreciation expense.....................................
Interest expense..............................................
Insurance expense..........................................
Total expenses ........................................
Net income ..............................................................
$54,100
4,900
59,000
$30,000
2,400
1,900
1,700
1,500
1,500
1,000
600
40,600
$18,400
SALZER GRAPHICS COMPANY
Owner’s Equity Statement
For the Six Months Ended June 30, 2005
Jill Salzer Capital, January 1.....................................................
Investment by owner..................................................................
Add: Net income .......................................................................
Jill Salzer, Capital, June 30........................................................
$
0
22,000
18,400
$40,400
SALZER GRAPHICS COMPANY
Balance Sheet
June 30, 2005
Assets
Cash..........................................................................
Accounts receivable...............................................
Supplies ...................................................................
Prepaid insurance...................................................
Equipment................................................................
Less: Accumulated depreciation .........................
Total assets..............................................
$ 9,500
16,000
1,300
1,200
$45,000
1,500
43,500
$71,500
Liabilities and Owner’s Equity
Liabilities
Notes payable..................................................
Accounts payable ...........................................
Interest payable...............................................
Unearned consulting fees..............................
Total liabilities .........................................
Owner’s equity
Jill Salzer, Capital ...........................................
Total liabilities and owner’s
equity ....................................................
$20,000
9,000
1,000
1,100
31,100
40,400
$71,500
P4-2 Costello Advertising Agency was founded by John Costello in January
of 2004. Presented on the next page are both the adjusted and
unadjusted trial balances as of December 31, 2005.
Costello Advertising Agency
Trial Balance
December 31, 2005
Cash
Accounts Receivable
Art Supplies
Prepaid Insurance
Printing Equipment
Accumulated Depreciation
Accounts Payable
Interest Payable
Notes Payable
Unearned Advertising Fees
Salaries Payable
J. Costello, Capital
J. Costello, Drawing
Advertising Revenue
Salaries Expense
Insurance Expense
Interest Expense
Depreciation Expense
Art Supplies Expense
Rent Expense
Unadjusted
Dr.
Cr.
$ 11,000
20,000
8,600
3,350
60,000
$ 28,000
5,000
-05,000
7,200
-025,500
12,000
58,600
350
4,000
$129,300
$129,300
Adjusted
Dr.
$ 11,000
23,500
5,000
2,500
60,000
Cr.
$33,000
5,000
150
5,000
5,600
1,300
25,500
12,000
63,700
11,300
850
500
5,000
3,600
4,000
$139,250
$139,250
Instructions
a) Journalize the annual adjusting entries that were
made.
b) Prepare an income statement and a statement of
owner's equity for the year ending December 31, 2005,
and a balance sheet at December 31.
c) Answer the following questions.
(1) If note has been outstanding 6 months,
what is the annual interest rate on that note?
(2) If the company paid $14,500 in salaries in 2005,
what was the balance in Salaries Payable on
December 31, 2004
Solution 4-2
(a) Dec. 31
31
31
31
31
31
31
Accounts Receivable .....................................
Advertising Revenue ..............................
3,500
Unearned Advertising Fees...........................
Advertising Revenue ..............................
1,600
Art Supplies Expense.....................................
Art Supplies .............................................
3,600
Depreciation Expense ....................................
Accumulated Depreciation ....................
5,000
Interest Expense .............................................
Interest Payable ......................................
150
Insurance Expense.........................................
Prepaid Insurance...................................
850
Salaries Expense ............................................
Salaries Payable .....................................
1,300
3,500
1,600
3,600
5,000
150
850
1,300
(b)
COSTELLO ADVERTISING AGENCY
Income Statement
For the Year Ended December 31, 2005
Revenues
Advertising revenue .......................................
Expenses
Salaries expense .............................................
Depreciation expense.....................................
Rent expense...................................................
Art supplies expense......................................
Insurance expense..........................................
Interest expense..............................................
Total expenses ........................................
Net income...............................................................
$63,700
$11,300
5,000
4,000
3,600
850
500
25,250
$38,450
COSTELLO ADVERTISING AGENCY
Owner’s Equity Statement
For the Year Ended December 31, 2005
J. Costello, Capital, January 1 ..................................................
Add: Net income .......................................................................
Less: Drawing ............................................................................
J. Costello, Capital, December 31.............................................
$25,500
38,450
63,950
12,000
$51,950
COSTELLO ADVERTISING AGENCY
Balance Sheet
December 31, 2005
Assets
Cash..........................................................................
Accounts receivable ...............................................
Art supplies .............................................................
Prepaid insurance...................................................
Printing equipment .................................................
Less: Accumulated depreciation—printing
equipment ............................................................
Total assets..............................................
$11,000
23,500
5,000
2,500
$60,000
33,000
27,000
$69,000
Liabilities and Owner’s Equity
Liabilities
Notes payable..................................................
Accounts payable ...........................................
Interest payable...............................................
Unearned advertising fees.............................
Salaries payable ..............................................
Total liabilities .........................................
Owner’s equity
J. Costello, Capital..........................................
Total liabilities and owner’s
equity ....................................................
$ 5,000
5,000
150
5,600
1,300
17,050
51,950
$69,000
(c)
(1)
I=PxRxT
$150 = $5,000 x R x 1/2
$150 = $2,500R
R =$150$2,500
R = 6%
(2)
Salaries Expense, $11,300 less
Salaries Payable 12/31/05,
$1,300 = $10,000. Total
payments, $14,500 – $10,000 =
$4,500 Salaries Payable 12/31/04.
P4-3 Joe Cuono started his own consulting firm, Cuono
Company, on June 1,2005. The trial balance at June is as
follows.
Cuono Company
Trial Balance
June 30, 2005
Account
Number
Debit
Credit
100
Cash
$ 7,150
110
Accounts Receivable
6,000
120
Prepaid Insurance
3,000
130
Supplies
2,000
135
Office Equipment
200
Accounts Payable
230
Unearned Service Revenue
300
J. Cuono, Capital
21,750
400
Service Revenue
7,900
510
Salaries Expense
4,000
520
Rent Expense
1,000
15,000
$4,500
4,000
$38,150
$38,150
In addition to those accounts listed on the trial balance, the chart of
accounts for Cuono Company also contains the following accounts and
account numbers: No. 136 Accumulated Depreciation-Office Equipment,
No. 210 Utilities Payable, No. 220 Salaries Payable, No. 530
Depreciation Expense, No. 540 Insurance Expense, No. 550 Utilities
Expense, and No. 560 Supplies Expense.
Other Data:
1. Supplies on hand at June 30 are $1,100.
2. A utility bill for $150 has not been recorded and will not be paid until
next month.
3. The Insurance policy is for a year.
4. $2,500 of unearned service revenue has been earned at the end of
the month.
5. Salaries of $1,500 are accrued at June 30.
6. The office equipment has a 5-year live with no salvage value. It is
being depreciated at $250 per month for 60 months.
7. Invoice representing $2,000 of service performed during the month
have not been recorded as of June 30.
Instructions
a)
b)
c)
Prepare the adjusting entries for the month of June.
Use J3 as the page number for your journal.
Post the adjusting entries to the ledger accounts. Enter
the totals from the trial balance as beginning account
balances and the place a check mark in the posting
reference column.
Prepare an adjusted trial balance at June 30, 2005
Solution 4-3
(a)
Date
2005
June 30
30
30
30
30
30
30
J3
Account Titles and Explanation
Ref.
Debit
Supplies Expense
Supplies
($2,000 – $1,100)
560
130
900
Utilities Expense
Utilities Payable
550
210
150
Insurance Expense
Prepaid Insurance
($3,000 ÷ 12 months)
540
120
250
Unearned Service Revenue
Service Revenue
230
400
2,500
Salaries Expense
Salaries Payable
510
220
1,500
Depreciation Expense
Accumulated Depreciation—
Office Equipment
($15,000 ÷ 60 months)
530
250
Accounts Receivable
Service Revenue
110
400
Credit
900
150
250
2,500
1,500
136
250
2,000
2,000
Cash
Date
2005
June 30
No. 100
Explanation
Balance
Accounts Receivable
Date
Explanation
2005
June 30
Balance
30
Adjusting
Ref.
Debit
Credit
P
Ref.
P
J3
7,150
Debit
No. 110
Credit
Balance
6,000
8,000
2,000
Prepaid Insurance
Date
2005
June 30
30
Explanation
Balance
Adjusting
Balance
No. 120
Ref.
P
J3
Debit
Credit
250
Balance
3,000
2,750
Supplies
Date
2005
June 30
30
No. 130
Explanation
Ref.
Balance
Adjusting
P
J3
Debit
Credit
Balance
900
2,000
1,100
Office Equipment
Date
2005
June 30
Explanation
Balance
No. 135
Ref.
Debit
Credit
P
15,000
Accumulated Depreciation—Office Equipment
Date
2005
June 30
Explanation
Adjusting
Ref.
J3
Balance
Debit
No. 136
Credit
250
Balance
250
Accounts Payable
Date
2005
June 30
Explanation
Adjusting
No. 200
Ref.
Debit
J3
Credit
150
Salaries Payable
Date
2005
June 30
Explanation
Adjusting
Unearned Service Revenue
Date
Explanation
2005
June 30
Balance
30
Adjusting
Balance
150
No. 220
Ref.
Debit
J3
Ref.
P
J3
Debit
2,500
Credit
Balance
1,500
1,500
Credit
No. 230
Balance
4,000
1,500
J. Cuono, Capital
Date
2005
June 30
Explanation
Balance
No. 300
Ref.
Debit
Credit
P
21,750
Service Revenue
Date
2005
June 30
30
30
Explanation
Balance
Adjusting
Adjusting
No. 400
Ref.
Debit
P
J3
J3
Credit
Balance
2,500
2,000
7,900
10,400
12,400
Salaries Expense
Date
2005
June 30
30
Explanation
Balance
Adjusting
Balance
No. 510
Ref.
P
J3
Debit
1,500
Credit
Balance
4,000
5,500
Rent Expense
Date
2005
June 30
Explanation
Balance
No. 520
Ref.
Debit
Credit
P
1,000
Depreciation Expense
Date
2005
June 30
Explanation
Adjusting
No. 530
Ref.
Debit
J3
250
Credit
Explanation
Adjusting
Balance
250
Insurance Expense
Date
2005
June 30
Balance
No. 540
Ref.
Debit
J3
250
Credit
Balance
250
Utilities Expense
Date
2005
June 30
Explanation
Adjusting
No. 550
Ref.
Debit
J3
150
Credit
150
Supplies Expense
Date
2005
June 30
Explanation
Adjusting
Balance
No. 560
Ref.
Debit
J3
900
Credit
Balance
900
(c)
CUONO COMPANY
Adjusted Trial Balance
June 30, 2005
Cash.......................................................................
Accounts Receivable...........................................
Prepaid Insurance................................................
Supplies ................................................................
Office Equipment .................................................
Accumulated Depreciation—Office
Equipment ........................................................
Accounts Payable ................................................
Utilities Payable ...................................................
Salaries Payable...................................................
Unearned Service Revenue ................................
J. Cuono, Capital..................................................
Service Revenue ..................................................
Salaries Expense .................................................
Rent Expense .......................................................
Depreciation Expense .........................................
Insurance Expense ..............................................
Utilities Expense ..................................................
Supplies Expense ................................................
Debit
$ 7,150
8,000
2,750
1,100
15,000
Credit
$
5,500
1,000
250
250
150
900
$42,050
250
4,500
150
1,500
1,500
21,750
12,400
$42,050