Soal TM 2 Pertemuan 9 dan 10
Soal-soal
REVIEW CLASS
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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 9
P11-6 The following are selected transactions of Talley Company.
Talley prepares financial statement quarterly:
Jan. 2 Purchased merchandise on account from Jones Company,
$20,000; terms 2/10, n/30
Feb. 1 Issued a 9%, 2 month, $20,000 note to Jones in payment of
account.
Mar. 31 Accrued interest for 2 months on Jones note.
Apr. 1 Paid in face value and interest on Jones note.
July 1 Purchased equipment from Seguin Equipment paying
$11,000 in cash and signing a 10%, 3 month, $30,000 note.
Sept. 30 Accrued interest for 3 months on Seguin note.
Oct. 1 Paid face value and interest on Seguin note.
Dec. 1 Borrowed $15,000 from Otago Bank by issuing a 3-month,
8% interest-bearing note with a face value of $15,000.
Dec. 31 Recognized interest expense for 1 month on Otago Bank
note.
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Instruction:
• Prepare journal entries for the above
transaction and event.
• Post to the accounts Notes Payable,
Interest Payable, and Interest Expense.
• Show the balance sheet presentation of
notes payable at December 31.
• What is total interest expense for the
year.
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SOAL TUGAS MANDIRI 9
P12-5B Presented below are assumption, principles, and
constraints used in this chapter.
1.
2.
3.
4.
5.
Economic entity assumption
Going concern assumption
Monetary unit assumption
Time period assumption
Full disclosure principle.
6.
7.
8.
9.
10.
Revenue recognition principle
Matching principle.
Cost principle.
Materiality
Conservatism
Instruction
Identify by number the accounting assumption, principle, or
constrain that describes each situation below. Do not use a
number more than once.
a) All important information related to inventories is
presented in the financial statements or the footnotes. 5
b) Assets are not stated at their liquidation value. (Do not
use the cost principle.)
c) The death of the president is not recorded in the
accounts
d) Pencil sharpeners are expensed when purchased.
e) An allowance for doubtful accounts is established. (Do
not use conservatism.)
f) Each entity is kept as a unit distinct from its owner or
owners.
g) Reporting must be done at defined intervals.
h) Revenue is recorded at the point of sale.
i) When in doubt, it is better to understate rather than
overstate net income.
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SOAL TUGAS MANDIRI 9
E13-9 B. Arete, V. Circe, and S. Medusa have capital
balances of $50,000; $40,000; and $30,000 respectively.
Their income ratios are 5:3:2. Medusa withdrawals from the
partnership under each of the following independent
conditions.
1. Arete and Circe agree to purchases Medusa’s equity by
paying $17,000 each from their personal assets. Each
purchaser receives 50% of Medusa’s equity.
2. Circe agrees to purchase all of Medusa’s equity by
paying $22,000 cash from her personal assets.
3. Arete agrees to purchase all of Medusa’s equity by
paying $26,000 cash from her personal assets.
Instructions: Journalize the withdrawal of Medusa under
each of the assumption above.
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SOAL TUGAS MANDIRI 10
P11-1B On January 1, 2005, the ledger of Zaur Company contains the
following liability accounts.
Accounts Payable
$52,000
Sales Taxes Payable
7,700
Unearned Service Revenue
16,000
During January the following selected transactions occurred.
Jan. 5 Sold merchandise for cash totaling $17,280, which includes
8% sales taxes.
12 Provide services for customers who had made advance
payments of $10,000. (Credit Service Revenue.)
14 Paid state revenue department for sales taxes collected in
December 2004 ($7,700).
20 Sold 600 units of a new product on credit at $50 per unit, plus
8% sales tax. This new product is subject to a 1-year warranty.
21 Borrowed $18,000 from UCLA Bank on a 3-mont, 9%, $18,000
note.
25 Sold merchandise for cash totaling $12,420, which includes 8%
sales taxes.
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Instructions
(a) Journalize the January transactions.
(b) Journalize the adjusting entries at January 31
for (1) the outstanding notes payable, and (2)
estimated warranty liability, assuming warranty
cost are expected to equal 7% of sales of the
new product. (Hint: Use one-third of a month
for the UCLA Bank note.)
(c) Prepare the current liabilities section of the
balance sheet at January 31, 2005. Assume no
change in accounts payable.
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SOAL TUGAS MANDIRI 10
E12-6
Milton Company sold equipment for
$300,000 in 2004. Collections on the sale were as
follows: 2004, $70,000; 2005, $190,000; 2006,
$40,000. Milton’s cost of goods sold is typically
70% of sales.
Instructions
a) Determine Milton’s gross profit for 2004,2005,
and 2006, assuming that Milton recognizes
revenue under installment method.
b) Determine Milton’s gross profit for 2004,2005,
and 2006, assuming that Milton recognizes
revenue under the point-of-sale basis.
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SOAL TUGAS MANDIRI 10
E14-2 Garza Co. had the following transactions during
the current period.
Mar. 2 Issued 5,000 shares of $1 par value common
stock to attorneys in payment of a bill for $30,000
for services provided in helping the company to
incorporate.
June12 Issued 60,000 shares of $1 par value common
stock for cash of $375,000.
July 11 Issued 1,000 shares of $100 par value preferred
stock for cash at $110 per share.
Nov. 28 Purchased 2,000 shares of treasury stock
$80,000
Instructions
Journalize the transactions.
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