Soal TM 2 Pertemuan 4
Soal-soal
Accounting Principles
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Petunjuk Pengerjaan Tugas Mandiri
Soal Tugas Mandiri (TM) dikerjakan secara berkelompok,
di tulis tangan pada kertas double folio dengan
rapi.Kelompok terdiri atas maksimal 3 orang anggota.
Dikumpulkan pada awal kuliah minggu/pertemuan
berikutnya.
Jawaban Soal TM yang sama, oleh mahasiswa secara
perorangan (individual) harus di “up load” pada forum
diskusi di binusmaya (LMS), pada kolom tugas. Up load
haryus sudah dilakukan paling lambat 7 hari setelah
pertemuan yang dimaksudkan.
Bila anda mengerjakan salah satunya saja atau tidak
keduanya maka anda dianggap tidak mengumpulkan TM
pada pertemuan yang dimaksudkan.
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SOAL TUGAS MANDIRI 4
P 12-5A
chapter:
Presented below are the assumptions, principles and constraints discussed in this
1.
Economic entity assumption
6.
Revenue recognition principle
2.
Going concern assumption
7.
Matching principle
3.
4.
Monetary unit assumption
Time period assumption
8.
9.
Cost principle
Materiality
5.
Full disclosure principle
10. Conservatism
Identify by number the accounting assumption, principle, or constraint that describes each situation
below. Do not use a number more than once.
Instructions
a.
Repair tools are expensed when purchased. These repair tools have a useful life of more than
one accounting period. (Do not use conservatism)
b.
c.
Expenses should be allocated to revenues in proper period.
The dollar is the measuring stick used to report financial information.
d.
e.
Financial information is separated into time periods for reporting purposes
Market value changes subsequent to purchase are not recorded in the accounts. (Do not use the
revenue recognition principle.)
f.
Personal and business record keeping should be separately maintained.
g.
h.
All relevant financial information should be reported.
Lower of cost or market is used to value inventories.
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SOAL TUGAS MANDIRI 4
P 12-2B
Presented below are a number of business transactions that occured during the current
for Renteria, Inc.
1. Because the general level of prices increased during the current year, Renteria, Inc. determined
that there was a $40,000 understatement of depreciation expense on its equipment and decided
to record it in its accounts. The following entry was made.
Depreciation Expense
40,000
Accumulated Depreciation
40,000
2.
Because of a “flood sale,” equipment abviously worth $300,000 was acquired at a cost of
$225,000. The following entry was made.
Equipment
300,000
Cash
225,000
Gain on Purchase of Equipment
75,000
3.
An order for $60,000 has been received from a customer for products on hand. This order is to
be shipped on January 9 next year. The following entry was made.
Accounts Receivable
Sales
60,000
60,000
4.
Land was purchased on April 30 for $200,000. This amount was entered in the Land account.
On Deceember 31, the land would have cost $240,000, so the following entry was made.
Land
40,000
Gain on Land
40,000
5.
The president of Renteria, Inc. used his expense account to purchase a pre -owned Mercedes
Benz E420 solely for personal use. The following entry was made.
Miscellaneous Expense
54,000
Cash
54,000
Instructions
In each sitiation, discuss the appropriateness of the journal entries in terms of generally accepted
accounting principles.
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SOAL TUGAS MANDIRI 4
Cosky Construction Company is involved in a long-term construction contract to build a
P 12-3B
shopping center with a total estimates cost of $20 million, and a contract price of $28 million.
Additional information follows.
Shopping Center
Actual Costs
Cash
Incurred
Collection
$ 30,000,000
$ 4,500,000
2004
9,000,000
10,000,000
2005
5,000,000
7,000,000
2006
3,000,000
6,500,000
2007
The project was completed in 2007, and all cash collections related to the contract have been
received.
Instructions
Prepare a schedule to determine the gross profit for each year for the long-term construction
contract, using the percentage-of-completion method.
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