Accounting Cycle of Service
Company
CREATED BY
DIARSONO SIHOTANG
2
INTRODUCTION
A. Description Of Module
This Module’s Title is “Accounting Cycle Of Service Company“ and have study before
about general journal, posting to ledger and arrange trial balance. In this module will discussed
about arrange trial balance, adjusting entries, work sheet, financial report, post closing trial balance,
and reversing entry. With study this module, student hoped can finished the accounting cycles for
service company special for basic of service company.
B. Area of Space
Area of Space this module are : making adjusting entries, arrange financial report, making
closing entries, post closing trial balance and reversing entries.
C. Prerequisite
For studing this module, the student expectable domineered the materials before likes : General
Journal, Posting to Ledger, and arrange Trial Balance.
D. Instruction for Using The Module
1. Reading with thrifty instruction of using this module, before studing module because can
help in using this module.
2. Reading with scrupulous information of sheet available in this module, before beginning on
task in this module.
3. Request assistance of teacher if in working the task in this module get the trouble.
4. Request assistance of teacher if get a problem in working the task in this module.
E. End Purpose
In The end learn, the student can working accounting cycle of serive company beginning of
general journal until composing financial statement. Therefore, for adding the comprehension and
skill of students, this module made for to help student for studing the accounting cycle of service
company and completed with examples for task in this module.
3
F. Glosarry
Account Interest
: Bunga yang akan diterima
Adjusted Balance
: Saldo setelah penyesuaian
Adjusted Entries
: Ayat jurnal penyesuaian
Adjusted trial balance
: Neraca saldo penyesuaian
Adjustment
: Penyesuaian
Beginning balance
: Saldo awal
Balance sheet
: Neraca
Building depreciation
: Penyusutan bangunan
Capital statement
: Laporan perubahan modal
Closing entries
: Jurnal penutup
Cash basic
: Dasar tunai kas
Costumer
: Nasabah
Current asset
: Aktiva lancar
Cash flow
: Arus kas
Capital stock
: Modal saham
Credit sales
: Penjualan kredit
Current liabilities
:Hutang lancar
Cost of good sold
: Harga pokok penjualan
Direct cost
: Biaya langsung
Depreciation
: Penyusutan
Direct material
: Bahan langsung
Equipment
: Peralatan
Equity
: Modal sendiri
Fixed asset
: Harta tetap
Income statement
: Ikhtisar laba rugi
Interest income
: Pendapatan bunga
Interest payable
: Hutang bunga
Interest receivable
: Piutang bunga
Inventory
: Persediaan
Journal entry
: Ayat-ayat jurnal
Liabilities
: Kewajiban
Miscellaneous expense
: Biaya lain-lain
4
Note payable
: Wesel bayar
Note receivable
: Wesel tagih
Office supplies
: Perlengkapan kantor
Other asset
: Harta lainnya
Other expense
: Biaya lain-lain
Other income
: Pendapatan lain-lain
Payable
: Hutang
Payment
: Pembayaran
Petty cash
: Kas kecil
Prepaid insurance
: Pembayaran asuransi dimuka
Prepaid expense
: Biaya di bayar dimuka
Raw material
: Bahan baku
Receivable
: Piutang
Salary expense
: Biaya gaji
Sales
: Penjualan
Total cost
: Total biaya
ACTIVITY CHART I
A. INFORMATION SHEET : ELEMENT / SUB KOMPETENSI
1. The student could mention recording system in accounting of service company.
2. The student could mention recording system implemented by manufacture company.
3. The student can explain difference of recording system accrual basic and cash basic.
4. The student can explain need adjusting entries.
5. The student could mention two group of post adjusting.
6. The student could difference of differal posts and accrual posts.
7. The student could recording journal entries in differal posts.
8. The student could recording journal entries in accrual posts.
5
B. DEFINITION AND CHARACTERISTICS OF SERVICE COMPANY
Service Company is Company which its business activity addressed to obtain get the result
of service. So in this case pertinent company have the individuality commercialized by non real
goods or merchandise. Service Company only providing the form of supply and equipments to
serve the side to need. Production of service company is the form of acceptance from other, as of
reward or payment to the service delivered by company. The Including service company for
example : service company of transportation, consultan, cleaning service, taylor, etc.
C. ACCOUNTING CYCLE
Accounting cycle is recuring activity phase each for every periode, beginning from
document record-keeping into journal and ledger,summarization into trial balance and then make
the financial statement. Final process of accountancy activity is presentation of financial report,
consisted by the balance and balance report.
.
D. DISSERTATION AND EXAMPLE
1. Recording System “ accrual Basic an Cash Basic”
Every company in applying system and accounting procedure have to berpedoman
of standard which have been specified by accountancy association in State of each.
Standard of financial accounting published by IAI (Ikatan Akuntansi Indonesia), system
record-keeping which must be applied in Indonesia is " akrual Basic". This System is
recognized with the title elementary system of time. From other side this system is we also
recognize the other system record-keeping that is " Cash Basic " or referred by ordinary of
elementary system cash.
According to accrual system, earnings confessed at the time of the happening of
goods delivery (product/service) to costumers without of regardless of moment the
happening of cash inflow from product delivery / service. And also with the expenses
confessed at the time of the happening of the burden regardless of when fare expenditure
paid. Become the accrual basic orient at the time of the happening of receive or cash
payment.
6
While according to " Cash Basic ", earnings confessed at the time of accepting of
cash. Non at the time of goods delivery / service of the costumers. Also burden confessed at
the time of the happening of payment, non at the time of the happening of.
2. Needed Make Adjusting Entries
a. Is needed by every compilation of financial statement for assuring of that every
balance in general ledger have describe condition which real and real correct.
b. Needed to to guarantee that me to the earnings and burden have applied the
assumption / principal of guide and revenue recognition. Become with the existence
of good post penyesuaian,laporan finance [of] balance and also profit report / lossy
have describe of real situation at the time of report compiled ( balance sheet) and in
the period (profit report/loss), The fungtion of adjustment journal is to accomodate the
balance from akun-akun account of which is on final moment period not yet and not
true.
3. Category/type of adjusting posts
There are two category of adjusting entries of adjusting posts namely : Defferal and
Accruals.
a. Defferal
Defferal happened because recording transaction delaying confession of expenses or
revenue. Eg:
1. Prepaid Expense
At the time payment of expenses recorded as assets, indirectly confessed as
expenses.
2
Defferal Income
At the time receiving revenue recorded as liabilities, indirectly confessed as
revenues.
b. Accrual
Accrual happened because it is’nt recorded as expenses or revenues when heppaned.
1. Accrued Expense
Expenses happened but not yet been record.
2. Prepaid Expense
Earnings is confessed revenue and happened but not yet been accepted in the form
of money or not yet been record.
7
4. Adjusting Posts for Defferal :
a. Prepaid Expenses
Example :
A Company paid rent building at September 1, 2004 for six month Rp.600.000,00.

Journal 1 September 2004
Prepaid Rent
Rp 600.000
Cash

Rp 600.000
Journal 31 September 2004 ( Adj )
Rent Expense
Rp 400.000
Prepaid Rent
Rp 400.000
Explaination :
1 september until 31 december = four month , So expense (become due) is four month @ Rp
100.000,- (Rp 600.000,- / 6 = Rp 100.000 ) whereas for two month (januari and februari 2005) will
happened expense in 2005 and as rent receivable as (prepaid rent) in 2004.
From amount Rp600.000,- , Rp400.000 became expense and make report to income
statement as operational expense. Whereas Rp 200.000 still as assets and make report to balance
sheet as current assets.
c. Supplies
Supplies is good used up wear in operational of company. At the moment of supply
usage is not done a recording. So, happened by the postponement of confession as
expenses. Confession to the complete usage supplies done at the end period with doing
physical calculation (stock opname) to the supplies inventory.
Example :
Supplies in 1 january 2004 is Rp 1.000.000,- during current period buying supplies
equal to Rp 5.000.000,- after taken the stock know by that supplies is Rp 2.000.000, Journal when buying supplies
Supplies
Rp 5.000.000,-
Cash/Account Payable
Rp 5.000.000,-
 Journal 31 december 2004 ( Adj )
Supplies Expense Rp 4.000.000,Supplies
Rp 4.000.000,-
8
Explaination :
Beginning Balance of Supplies (Look at the Trial Balance) Rp 1.000.000,- and
buying supplies Rp 5.000.000,- So, Amount of Supplies before stock opname is Rp
6.000.000,- after calculated in 31 december (End Period) have residual value Rp 2.000.000,the mean that supplies used is Rp 6.000.000 – Rp 2.000.000.= Rp 4.000.000,- amount Rp
4.000.000,- this amount will record to account “Supplies Expense” and reported into income
statement, whereas Rp 2.000.000,- will reported into balance sheet as current assets.
d. Arranging Fixed Asset
Fixed Asset is assets gived profit/benefit to company operation during some years
(more than one year). Payment for buying fixed asset is prepaid payment for long term
of service/profit used for company operation. According Matching Principles that cost
price must reported as expense each period while systematic and fixed assets to
expenses while aging of fixed assets. The Alocation of Cost become Expense Company
for each year must be record into account “Depreciation Expense”.
Example :
A company buying equipment on cash Rp 10.000.000,- At the beginning in 2004.
Aging economic of equipment estimated for 5 years.
 Journal when buying equipment :
Equipment
Rp 10.000.000,-
Cash
Rp 10.000.000,-
 Journal 31 december 2004 ( Adj)
Depreciation Expense of Equipment
Rp 2.000.000,-
Accumulated Dep. Of Equipment
Rp 2.000.000,-
Explaination :
In Accounting there is depreciation metod. One of them is Straight Line Method for
determine amount of depreciation according to this metod is :
Fungtion = Cost – Residual Value
Aging Economic
9
= Rp 10.000.000 – ( deemed be no use )
5
= Rp 2.000.000,- ( depreciation per years)
Fungtion : Search tarif with presentege :
= 100% = 20%
5
= 20 % x Rp 10.000.000,= Rp 20.000.000,So, confession expense at the end period is depreciation expense recorded as “Depreciation
Expense” when bought and reported into income statement. Whereas “Accumulated Depretioan”
reported into Balance Sheet as Less Fixed Asset.
e. Unearned Revenues
Unearned Revenues is amount money received as liabilities/Payable before
revenue/income confessed because there is gave service or thing have delayed as revenue.
Example :
A Company in 1 november 2004 receiving rent building for six month equal Rp
6.000.000, Journal in 1 novembe 2004
Cash
Rp 6.000.000,-
Prepaid Rent
Rp 6.000.000,-
 Journal in 31 november 2004
Unearned Rent
Rent Revenue
Rp2.000.000,Rp 2.000.000,-
10
Explaination :
In 1 November until 31 december = 2 month, So become Revenue namely :
2 x Rp 1.000.000,- = Rp 2.000.000,- Rp 1.000.000,- procurable of Rp 6.000.000,- : 6 month.
Whereas 4 month will become revenue in 2005 and accrued as liabilities in 2004. ”Rent Expense”
reported into income statement equal Rp2.000.000,- , Whereas “Unearned Rent“ reported as
“Current Liabilities” into Balance Sheet Rp 4.000.000,-
5 . Adjusting Posts for Accrual
a. Accrual Expense
Accrual Expense is Expense happened but not yet record until ending period. Expense
Payable are interest expense, utilities expense, wage and salaries expense,
rent expense, etc.
Expenses must make adjustment journal/entries at the end period with confess as “Expense”
because happened. But also must be record as “Expense Payable” because not yet deposited.
 Adjustment Journal (Wage and Salaries)
Wage and Salaries Expense
Rp xxx
Wage and Salaries Payable
Rp xxx
And neither is other expenses.
b. Accrued Revenues
Accrued Revenues is earning accrued or happended but not yet record until ending period,
whereas revenue/earning happened must be make adjustment journal with confessing as not yet
receive its money.
 Adjustment Journal (Interest)
Interest Receivable
Interest Revenue
Rpxxx
Rp xxx
5. Adjusted Trial Balance
After all accounts non adjust have made adjustment journal, than need arrange a trial
balance namely “Post Adjusted trial balance” According Balance Sheet, We arrange a
Financial Statement
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E. EXERCISE 1 (EXAMPLE )
E1. Balance Sheet of “Rekapitulasi Kulkas” Company Which is established by Mr. Rio on
December 1st 2004 as follows:
“Reparasi Kulkas” Company
BALANCE SHEET
For the month end December 2004
Acc. No
Accounts
Dr
Cr
111
Cash
Rp.12.400.000
112
Account Receivable
Rp. 1.125.000
113
Supplies
Rp
350.000
114
Prepaid Rent
Rp
1.500.000
115
Office Equipment
Rp
8.250.000
211
Account Payable
213
Unearned Revenue
Rp 6.550.000
311
Rio’s Capital
Rp
312
Rio’s Drawing
Rp 15.000.000
411
Service Revenue
511
Salaries Expense
513
Utilities Expense
Total
225.000
Rp 1.600.000
Rp
Rp
3.500.000
200.000
Rp 25.900.000
Rp 25.900.000
Adjustments of “Reparasi Kulkas” Company per December 31st 2004 :
a. Rent Expense for a month Rp 500.000,
b. Supplies on hand Rp 200.000,c. Depreciation of Office Equipment is 20 % per year
d. Salaries Payable Rp 475.000,e. Accrued Income Rp 75.000,-
12
Diminta :
1. Prepare Adjusting Entries for “Reparasi Kulkas” Company per December 31st 2004
2. Prepare Adjusting Trial Balance
E2. ANSWER OF EXERCISE 1
1) Adjusting Entries
a. Rent Expense
Rp 500.000,-
Prepaid Rent
b. Office Supplies Expense
Rp 500.000,Rp 150.000,-
Supplies
c. Depreciation of Office Equipment Expense
Rp 150.000,Rp 137.500,-
Accum. Depreciation of Office Equipment Expense
d. Salaries Expense
Rp 475.000,-
Salaries Payable
e. Unearned Revenue
Service Revenue
Rp 137.500,-
Rp475.000
Rp 75.000,Rp 75.000,-
Explanation:
When Adjusting Entries is prepared, there are some new accounts which appear as Accum.
Depreciation of Office Equipment Expense, Salaries Payable, Rent Expense, Supplies Expense and
Depreciation of Office Equipment Expense.
2. Adjusted Trial Balance
Based on Balance Sheet and Adjusting Entries already been made, therefore can prepared
Adjusted Trial Balance. We should remember that after Adjusting Entries is made abd before
preparing Adjusted Trial Balance, earlier Adjusted Trial Balance can be prepared as follows:
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“Reparasi Kulkas” Company
ADJUSTED TRIAL BALANCE
For the month end December 2004
Acc. No
Accounts
Dr
111
Cash
Rp 12.400.000,-
112
Account Receivable
Rp 1.125.000,-
113
Supplies
Rp
114
Prepaid Rent
Rp 1.000.000,-
115
Office Equipment
Rp 8.250.000,-
116
Accum. Depreciation of Office
Cr
200.000,-
Rp
135.000,-
Equipment Expense
211
Account Payable
Rp 6.550.000,-
212
Salaries Payable
Rp
450.000,-
213
Unearned Revenue
Rp
150.000,-
311
Rio’s Capital
Rp 15.000.000,-
32
Rio’s Drawing
411
Service Revenue
511
Salaries Expense
Rp
900.000,-
512
Rent Expense
Rp
500.000,-
513
Utilities Expense
Rp
200.000,-
514
Supplies Expense
Rp
150.000,-
515
Depreciation
Office Rp
137.500,-
Rp 1.600.000,Rp 3.575.000,-
of
Equipment Expense
Total
Rp26.512.500,-
Rp26.512.500,-
14
E3. EXERCISES
Transactions of Laris Company on January as follows:
Jan
1
: Prepaid Insurance for January to March Rp. 300.000,-
4
: Purchase of Office Equipment for cash Rp 450.000,-
5
: Received cash for service Rp 700.000,-
8
: Paid the gas bill Rp 150.000,-
12
: Performed service on account Rp 500.000,-
13
: Purchase of Office Supplies Rp 150.000,-
28
: Received payment of service revenue on January 12th Rp 250.000,-
31
: Paid salaries expense Rp 550.000,-
31
: Paid account payable at January 14th
31
: Recording of Adjusting Entries for Insurance Expense at the beginning of month
Task
Prepare Net Profit or Net Loss for January based on each method
2). A company pay the salary of its employee Rp 3.750.000,- every Friday for five work days on a
week. Prepare adjustment pos on Journal with assumption:
a. End of period is Tuesday June 30th 2000
b. End of period is Thursday December 31st 2000
3). For the next exercise, each point is separated and no relationship absolutely.
a. Total of supplies bought in a period of accounting is Rp 420.000. Supplies in the beginning
of period is Rp 185.000,- while in the end of period is Rp. 210.000,-. How much the cost of
Supplies at the beginning of period?
b. Supplies in the end of period is Rp 420.000,-. Purchase of supplies bought is Rp. 345.000,and total of Supplies has been used is Rp 520.000,-. How much Supplies at the beginning of
period?
c. The value of Supplies is Rp. 337.500,-. Supplies has been used at the beginning of period
is Rp. 160.000,- while Supplies in the end of period is Rp. 90.000,-. How much the total
Supplies bought in the currently period?
d. Supplies bought in the currently period is Rp. 115.000,-. The beginning of Supplies is Rp.
32.000,- and Rp. 102.500,- is used. How much Supplies in the end of period?
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4) Prepare Adjusting Journal Entries necessary for December 31st of currently accounting period for
every case of Dian Contractor.
a. Paid salary every Friday. Total of weekly salary is Rp. 4.200.000,- for five days per week
and also daily wages with the same nominal. Current period and end of period is Monday.
b. Dian lend money and receive Note Receivable. In the current period the company admitted
the Accrued Income Rp. 1.474.000,c. Amount of beginning supplies is Rp. 3.360.000,- in the current year of accounting, the
company has bought supplies Rp. 12.350.000,-. Supplies on December 31st is Rp.
4.300.000,-.
d. Dian is making the air condition system in a building and the owner of the building pay Rp.
25.800.000,- as the annual cost. Dian records it as Unearned Revenue. She estimates that the
company has produced for a quarter of the total of current year.
e. Depreciation of current year include Office Furniture Rp. 1.300.000,-, equipment Rp.
7.700.000,- trucks Rp. 20.640.000,-. Prepare the adjusting entries!
f. Details of prepaid rent as shown at the following list: Prepaid Rent
January 1st balance
Rp 1.200.000,-
March
Rp 2.400.000,-
September
Rp 2.400.000,-
Dian paid office rent every year on March 31st and Sptember 30th. The last payment on December
31st is Rp. 1.200.000,-.
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F. SUMMARY
 Accrual Basic needs adjusting process in the end of accounting period to compare
expenses and incomes constantly.
 Premium types of adjusting pos are the expense is prepaid expenses and unearned
revenue, unearned expense and account receivable.
 Payment adjustment / early income in the end of period to record earlier payment which
is become expense and earlier income which becomes income.
 Adjusted Trial Balance presents balances of Ledger Accounts include the record of
adjustment in the end of period. The purpose of Adjusted Trial Balance is presents the
influence of financial transaction happen during current year of accounting.
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G. FORMATIF TEST
Balance Sheet before adjustment of “ Agen Perjalanan Wisata” in the end of its operation
moth as follows:
Agen Perjalanan Wisata
Balance Sheet
Per June 30th 2000
Cash
Prepaid Insurance
Office Equipment
Bus
Notes Payable
Prepaid Income
Susi’s Capital
Service Revenue
Salaries Expense
Advertising Expense
Bus Supplies Expense
Rp 6.000.000,Rp 14.000.000,Rp 3.000.000,Rp 280.000.000,-
Total
Rp 325.800.000,-
Rp 124.000.000,Rp 30.000.000,Rp 140.000.000,Rp 31.800.000,Rp 18.000.000,Rp 1.600.000,Rp 2.200.000,-
Rp 325.800.000,-
Beside the accounts of that Balance Sheet, there are also another accounts in “ Agen
Perjalanan Wisata “ as: Accumulated Depreciation of Bus, Accumulated Depreciation of
Office Equipment, Depreciation of Bus Expense, Depreciation of Office Equipment, Interest
Expense, Salaries Payable, Account Receivable and Interest Payable.
Data for June 30th 2000 as follows:
1.
Pay Insurance for 1 year, from June 1st 1999 to March 31st 2000
2.
Monthly depreciation of Office Equipment is Rp. 100.000 and Rp. 4.000.000,- fo bus
3.
Interest of Notes Payable for June is Rp 1.400.000,-
4.
Receive down payment Rp 10.000.000,- from customers who orders the trip on cash, the trip
has been done.
Task:
1. Prepare Adjusting Entries per June 30th 2000.
2. Post Adjusting Entries to Ledger.
3. Prepare Adjusted Trial Balance.
18
LEARNING ACTIVITY 2
REPORTING AND ACCOUNTING CYCLE WORKING OUT
A. INFORMATION SHEET: ELEMENTS
1. Explain steps of arranging Work Sheet
2. Arrange Work Sheet
3. Using Work Sheet to arrange Financial Report
4. Using Work Sheet to record Adjustments
5. Using Work Sheet to Record Closing Entries
6. Arrange Work Sheet for Adjusting Entries
7. Identifying adjusting entries necessary Reversing Entries
B. EXPLANATION
Financial statement thus principally being arranged bases data or information that exists in
ledger accounts. Direct financial statement collation from ledger accounts will so elaborate if in the
ledger there are so many type of accounts. To water down and avoids fault may happen to need is
arranged working paper beforehand or work sheet the so called. Work sheet only a tool and not
form a part of accounting cycle.
Accounting cycle is thread procedure in accounting. Smith and Schouser divides accounting
cycle become two phases which is:
1. Recording phase consisting of:
a. Recording in documents transactions
b. Recording in journal
c. Posting to Ledger
2. Overview phase consisting of
a. Trial balance collation
b. Financial statement collation
c. Adjusted Entries record into journal and posting to ledger
d. Closing Entries record into journal and posting to ledger
e. Arranging balance after closing
In phase work through this unit overviesw in accounting cycle and gives operation on
reversing entries record.
19
a.
Work Sheet
Thus principally, financial statement shall arrange to base balance or information that
include in ledger accounts. Presented information in financial statement shall get to trace back
or proved its truth with information that exists in ledger. So also contrariwise information
which is kept book into ledger account shall get to proved its truth via transactions proofs.
Work sheet only working paper is not form a part of accounting record process as journal
and ledger. Besides water down accounting cycle working out, work sheet can also minimizing
fault may happen.
Work sheet in a general way has 10 columns which is 5 main columns those are subdivided
in debit side and credit, which is:
a. Work Sheet column
b. Adjusted Entries column
c. Adjusted Trial Balance column
d. Profit or Loss overview column
e. Balance column
Work sheet form is as follows:
Acc.
Account
No
Name
b.
Balance Sheet
Dr
Cr
Adjusting
Adjusted Trial
Profit/loss
Entries
Balance
overview
Dr
Cr
Dr
Cr
Dr
Cr
Balance
Dr
Cr
Steps of Work Sheet collation
Steps of Work Sheet collation as follows :
1. Preparing / arranges Balance Sheet. Account name of rest point that haven't adjusted in
trial balance column and adds that point.
2. Record Adjusted entry into Adjustment column and adds the value. Before recording the
adjustment data, analyze first adjustment data that available on period, what is its
influence to account whatever available.
3. Count point which available in account balance already adjusted with merge assesses
trial balance with adjusment. Insert point already adjusted, then adds to prove its
adjustment.
20
4. Move balance accounts (assets, liabilities, owner’s equity) of balance that adjusted to
nominal account balance column ( income and expenses) of Adjusted Trial Balance to
balance overview column. Add overview column point balance and balance column.
5. Count Net Profit or Net Loss by looks for distinctive squire total profit column with
propertied with balance column. Entry of net profit column or net loss as balance point
on unrealized overview column / rugi dan neraca.kamudian's column adds every basin in
profit/loss overview and balance column. After complete this stage debit and credit
amount on profit/loss overview and balance column will same its amount.
Work Sheet Collation illustration
Transportation service firm trial balance of “ Fajar Anggara”
Per December 31st 2002
(in thousands rupiah)
Acc. No
111
112
113
114
115
116
117
211
212
311
321
411
511
551
Accounts
Cash
Account Receivable
Supplies
Conveyer
Accum. Dep. Of Conveyer
Building
Accum. Dep. Of Building
Account Payable
Unearned Revenue
Mar’s Capital
Mar’s Drawing
Service Revenue
Salaries Expense
Other Expense
Total
Trial balance
Dr
Rp 386.000,Rp 740.000,Rp 12.000,Rp 500.000,-
Cr
Rp 300.000,Rp 200.000,Rp 40.000,Rp 760.000,Rp 90.000,Rp 586.000,Rp 130.000,Rp 572.000,Rp 244.000,Rp 24.000,Rp 2.348.000,-
Rp 2.348.000,-
Of that firm chart of account available too estimate as follows:
Account Number
Account Name
213
Salaries Payable
331
Profit/Loss Overview
512
Depreciation of Conveyer Expense
513
Depreciation of Building Expense
514
Supplies Expense
21
Data on December 31st 2002
a. Supplies on hand
Rp 4.000.000,-
b. Depreciation of Conveyer
Rp 40.000.000,-
c. Depreciation of Building
Rp 10.000.000,-
d. Salaries Payable
Rp 10.000.000.,-
e. Accrued Income
Rp 64.000.000,-
Stages arranges trial balance as follows:
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
WORK SHEET FOR DECEMBER 31, 2002
( IN THOUSANDS RUPIAHS)
NO
Account
Trial Balance
Debit
Credit
111
Cash
396.000
112
Account
740.000
113
Receivable
114
Supplies
12.000
115
Equipment
500.000
116
Accomulated
117
Equipment
211
Building
40.000
231
Accomulated
760.000
311
Building
90.000
321
Account
586.000
411
Payable
511
Unearned
551
Revenues
Adjusted
Adjusted Trial
Income
Journal
Balance
Statement
Debit
Credit
Debit
Credit
Debit
Credit
Balance
Debit
Credit
300.000
200.000
130.000
572.000
344.000
Mar Capital
Mar Drawing
26.000
Service
Income
Salary
Expense
Utilities
Expense
22
23
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
WORK SHEET FOR DECEMBER 31, 2002
( IN THOUSANDS RUPIAHS)
Trial Balance
NO
Account
111
Cash
396.000
112
Account Receivable
740.000
113
Supplies
114
Equipment
115
Accomulated Equipment
116
Building
117
Accomulated Building
211
Account Payable
231
Unearned Revenues
311
Mar Capital
321
Mar Drawing
411
Service Income
511
Salary Expense
551
Utilities Expense
Debit
Credit
Adjusted Journal
Adjusted Trial Balance
Income Statement
Balance
Debit
Debit
Debit
Debit
12.000
Credit
Credit
Credit
Credit
a) 8.000
500.000
300.000
b) 40.000
200.000
40.000
c) 10.000
760.000
90.000
e) 64.000
586.000
130.000
572.000
344.000
e) 64.000
d)10.000
26.000
2.348.000
2.348.000
213
Salary Payable
d) 10.000
512
Acc Equipment Expense
b) 40.000
513
Accomulated Boulding Expense
c) 10.000
514
Supplies Expense
a) 8.000
24
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
WORK SHEET FOR DECEMBER 31, 2002
( IN THOUSANDS RUPIAHS)
Trial Balance
Adjusted Journal
Adjusted Trial Balance
Income Statement
Balance
Debit
Debit
Debit
Debit
NO
Account
111
Cash
396.000
396.000
112
Account Receivable
740.000
740.000
113
Supplies
114
Equipment
115
Accomulated Equipment
116
Building
117
Accomulated Building
211
Account Payable
231
Unearned Revenues
311
Mar Capital
321
Mar Drawing
411
Service Income
511
Salary Expense
551
Utilities Expense
Debit
Credit
12.000
Credit
a) 8.000
500.000
Credit
40.000
b) 40.000
200.000
340.000
200.000
40.000
c) 10.000
50.000
760.000
90.000
760.000
e) 64.000
26.000
586.000
586.000
130.000
130.000
572.000
344.000
e) 64.000
d)10.000
636.000
354.000
26.000
26.000
2.348.000
213
Salary Payable
512
Acc Equipment Expense
b) 40.000
40.000
513
Accomulated Boulding Expense
c) 10.000
10.000
514
Supplies Expense
a) 8.000
8.000
Jumlah
Credit
50.000
300.000
2.348.000
Credit
d) 10.000
132.000
132.000
10.000
2.408.000
2.408.000
25
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
WORK SHEET FOR DECEMBER 31, 2002
( IN THOUSANDS RUPIAHS)
Trial Balance
Adjusted Journal
Adjusted Trial Balance
Income Statement
Balance
Debit
Debit
Debit
Debit
NO
Account
111
Cash
396.000
396.000
396.000
112
Account Receivable
740.000
740.000
740.000
113
Supplies
40.000
4.000
114
Equipment
50.000
500.000
115
Accomulated Equipment
116
Building
117
Accomulated Building
211
Account Payable
231
Unearned Revenues
311
Mar Capital
321
Mar Drawing
411
Service Income
511
Salary Expense
551
Utilities Expense
Debit
Credit
12.000
Credit
a) 8.000
500.000
300.000
b) 40.000
200.000
Credit
340.000
c) 10.000
760.000
90.000
e) 64.000
586.000
130.000
200.000
50.000
50.000
760.000
760.000
26.000
26.000
586.000
586.000
130.000
572.000
344.000
e) 64.000
d)10.000
26.000
Credit
340.000
200.000
40.000
2.348.000
Credit
130.000
636.000
636.000
354.000
354.000
26.000
26.000
2.348.000
213
Salary Payable
d) 10.000
512
Acc Equipment Expense
b) 40.000
40.000
40.000
513
Accomulated Boulding Expense
c) 10.000
10.000
10.000
514
Supplies Expense
a) 8.000
8.000
8.000
132.000
132.000
10.000
2.408.000
2.408.000
438.000
10.000
636.000
1.970.000
1.772.000
26
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
WORK SHEET FOR DECEMBER 31, 2002
( IN THOUSANDS RUPIAHS)
Trial Balance
Adjusted Journal
Adjusted Trial Balance
Income Statement
Balance
Debit
Debit
Debit
Debit
NO
Account
111
Cash
396.000
396.000
396.000
112
Account Receivable
740.000
740.000
740.000
113
Supplies
40.000
4.000
114
Equipment
50.000
500.000
115
Accomulated Equipment
116
Building
117
Accomulated Building
211
Account Payable
231
Unearned Revenues
311
Mar Capital
321
Mar Drawing
411
Service Income
511
Salary Expense
551
Utilities Expense
Debit
Credit
12.000
Credit
a) 8.000
500.000
300.000
b) 40.000
200.000
Credit
340.000
c) 10.000
760.000
90.000
e) 64.000
586.000
130.000
200.000
50.000
50.000
760.000
760.000
26.000
26.000
586.000
586.000
130.000
572.000
344.000
e) 64.000
d)10.000
26.000
Credit
340.000
200.000
40.000
2.348.000
Credit
130.000
636.000
636.000
354.000
354.000
26.000
26.000
2.348.000
213
Salary Payable
d) 10.000
512
Acc Equipment Expense
b) 40.000
40.000
40.000
513
Accomulated Boulding Expense
c) 10.000
10.000
10.000
514
Supplies Expense
a) 8.000
8.000
8.000
132.000
132.000
10.000
2.408.000
2.408.000
438.000
10.000
636.000
1.970.000
1.772.000
27
198.000
636.000
198.000
636.000
1.970.000
1.970.000
28
3. Financial Statement
Work sheet finished is worked have presented profit or mis out clear and corporate finance
position. But work sheet is not official report,but only tool to water down arranges financial
statement.
a) Income Statement
Income statement is arranged with data of balance overview column in work sheet. Need
noticed deep arrange charges list shan't same thread it with thread will in work sheet. Expenses is
arranged in sequence big charges point of little one until with big one. If there is the other charges
therefore will be placed on the latest thread.
Example
( work Sheet “ Trasportation Firm ”FAJAR” ANGGARA) for income statement is below :
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
INCOME STATEMENT
WORK SHEET FOR DECEMBER 31, 2002
INCOME
Service Income
Rp 636.000.000,-
Expenses :
Salary Expensei
Rp 354.000.000,-
Acc Equipment Expense
Rp 40.000.000,-
Acc Boulding Expense
Rp 10.000.000,-
Supplies Expense
Rp
Utilities Expense
Rp 26.000.000,-
Total Expenses
Net Earning
8.000.000,-
Rp 438.000.000,Rp 198.000.000,-
b) Owner’s Equity Statement
29
Owner's Equity reported investment in the early period, investment affix up to period, add
equitas of net profit or cut back because loss, maybe also cut back person take. To arrange account
this was gotten from Account “ capital ” and “ personal ” deep balance column
and net profit or
balance overview. balance reporting is arranged with data of balance overview column in work
sheet. Need noticed deep arrange charges list shan't same thread it with thread will in work sheet.
Expenses is arranged in sequence big charges point of little one until with big one. If there is the
other charges therefore will be placed on the latest thread.
Example:
( work Sheet “ Trasportation Firm ”FAJAR” ANGGARA) for income statement is below :
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
OWNER’S EQUITY STATEMENT
WORK SHEET FOR DECEMBER 31, 2002
Begining Capital, January 1, 2002
Rp 586.000.000,-
Add : Net Earned
RP 198.000.000,Rp 784.000.000,-
Less : Drawing Mar
Rp 130.000.000,-
Ending Capital at January Desember 1,2002
Rp 654.000.000,-
c. Balance Sheet
Balance sheet is arranged bases data on balance column in subdivided work sheet deep
agglomerate asset, liabilities and equitas. Butto meet the need accounting information user,
category liabilities becomes short run for liquidity.
Liquidity is a size about how fast an item comfirmation become cash . Asset in like as
presented balance with liquidity of thread is divided as current asset and fixed asset. if liabilities is
presented according to its redemption maturity value, which is: long term payable and short rate
payable.
 Current Asset
30
Current assets is asset negotiable as cash, sale or is consumed deep duration 12 months
or deep cycle hads out normal as: Cash, account receivable , Supplies, unearnet expense.
 Fixed Asset
Fixed Assset is asset besides current assets and don't dapt be sale, but will be utilized
deep oiperasi. One of katagori asset not easy-going is asset make a abode, as: Equipment,
Building, land.
 Current Liabilitie
Sort term liabilities is liabilities that its redemption maturity value in duration a year. As:
Account payable, Note payable, ssalary payable, Unearned revenues, Interest payable.
 Long Term Liabilitie
Longterm liabilities is do bit its maturity value one in the period of more than one years.
As : Debenture Bond loan, Mortgage Payable, Longterm payable.
Balance can be presented deep shaped two columns( skontro) with left side presents asset
formation and formation right side do bit and equitas and equitas is owner, but gets also be
presented deep form of report or format form.
Example :
TRANSPORTATION FIRM “ FAJAR ” ANGGARA
BALANCE SHEET
WORK SHEET FOR DECEMBER 31, 2002
31
Assets :
Current Asset :
Cash
Rp
396.000.000,-
Account Receivable
Rp
740.000.000,-
Supplies
Rp
4.000.000,-
Total Current Assetr
Rp 1.140.000.000,-
Fixed Asset :
Transportation
Rp 500.000.000,-
Acc Transportation
(Rp 340.000.000,-)
Total transportation
Rp 160.000.000
Boiulding
Rp 200.000.000,-
Acc Boulding
(Rp 50.000.000,-)
Total Transportatin
Rp 150.000.000
Total Fixed Asset
Rp 310.000.0000,-
Total Assets
Rp 1.450.000.000,-
Liabilities:
Short term liabitilies:
Account Payable
Rp 760.000.000,-
Salaries Payable
Rp 10.000.000,-
Unearned Revenues
Rp 26.000.000,-
Total Short term liabitilies:
Rp 796.000.000,-
Equitas :
Mas Capital
Rp 654.000.000,-
Total Equity Mar
Rp 654.0000.000,-
Total liabilities and Capital
Rp 1.450.000.000,-
Postal Registry Adjustment
Post adjustedding to constitute essential element of accounting that gets accrual basis. form
work sheet recognizes akuns that needs fitting, but work sheet is not journal, therefore data can’t
use as posting's basic goes to ledger. Therefore for adjust akuns ledger needs registry in journal that
32
often been called adjusted journal sentence. Adjusted journal sentence gets to be arranged bases
data on column “ Fitting ” deep work sheet.
Example:
Adjusted journal sentence (service firm work sheet see transportation “ Dawn ” above), note
in as journal following :
Tanggal
Keterangan
PR
Debit
Kredit
1997
31
Supplies Expense
Des
Supplies
514
8.000.000
113
8.000.000
(Adjusted Post)
31
Depr. Vehicle Expense
Accum. Depr. Vehicle
512
40.000.000
115
40.000.000
(Adjusted Post)
31
Building depreciation Expense
513
Accumulated depr. Building
117
10.000.000
10.000.000
(Adjusted Post)
31
Salaries Expense
Salaries Payable
511
10.000.000
213
10.000.000
(Adjusted Post)
31
Unearned revenues
Service Revenue
231
411
64.000.000
64.000.000
(Adjusted Post)
Post this adjusted post directly diposting to akuns ledger.
5.Postal registry – Closing Post
In make ready post – closing post needs remember nominal account difference back or mis
out the so called interim account profit with akun substantive or akun is the so called balance also
akun permanent.
Nominal account just used by dalan one period, including nominal account is akuns balance
and akun drawing is person, akuns this shall be closed each year-end. Meanwhile akun permanent
is used for a few accounting period. Akuns permanent this be not been closed, just balance
eventual being moved even to next period.
Sum and posting is closing post ledger this constitute stage a stop to an accounting cycle.
33
Afters does this stage arrange financial statement and just is worked at the early period.
Postal journaling–closing post to be noted deep common journal with take data of balance column
of a work sheet, and from akun ekuitas owner of balance column.
Registry in journal can be done separately for every akun, but is done collegial as follows:
a. debiting each akun income as big as balance it and crediting akun is balance
overview as big as amount of income.
b. debiting akun is balance overview as big as amount all charges and crediting
every akun sebear's charges balance – its balance.
c. debiting akun is balance overview and crediting akun is owner capital as big as
net earning / net profit, or contrariwise if happening disadvantaged, debiting
akun is drunk owner capital crediting akun balance overview as big as clear loss.
d. debiting akun is owner capital and crediting akun is owner person take.
Example:
Closing journal (service firm work sheet see transportation “ Dawn ”), visually as follows:
Keterangan
PR
Debit
Service Revenue
411
636.000.000
Income Summary
311
Kredit
636.000.000
( Closing Post )
Income Summary
331
438.000.000
Salaries Expense
511
40.000.000
Depr. Vihecle Expense
512
10.000.000
Depr. Building Expense
513
8.000.000
Supplies Expense
514
260.000.000
Other’s Expense
515
( Closing Post )
Income Summary
Hani’s Capital
331
198.000.000
311
198.000.000
( Closing Post )
Hani’s Capital
Hani’s Drawing
311
321
130.000.000
130.000.000
34
( Closing Post)
Example:
Closing journal (service firm work sheet see transportation “ Dawn ”), visually as follows:See
closing postal diagram Transportation service firm “ Dawn ”. Post this closing post diposting shall
go to akuns ledger. After posting is done therefore position akuns therefore position akuns binds
books to get recapitulated as follows:
Number
Akun's type
1
Asset
Debit
2
Liabilities
Credit
3
Capital
Credit
4
Drawing
Zero
5
Revenue
Zero
6
Expenses
Zero
1.
Balance
Posting is Fitting Post and Shell Mail goes to Ledger
Ledger “ Dawn transportation service firm anggara ” posting's afters fitting journal and shell journal
is as follows:
Cash
No. 111
Balance
Date
1997
Explanation
31
Balance
Ref
V
Debit
-
Credit
-
Debit
396.000
Credit
-
Des
Account Receivable
No. 112
Balance
Date
1997
Explanation
31
Balance
Ref
V
Debit
-
Credit
-
Debit
740.000
Credit
-
Des
35
Supplies
No. 113
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Balance
V
-
-
Adjusted post
Ju13
-
8.000
Vehicle
Debit
Credit
12.000
-
4.000
-
No. 114
Balance
Date
1997
Explanation
31
Balance
Ref
V
Debit
-
Credit
-
Debit
500.000
Credit
-
Des
Accum. Depr. vehicle
No. 115
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Balance
V
-
-
-
300.000
Adjusted post
Ju13
-
40.000
-
340.000
Building
No. 116
Balance
Date
1997
Explanation
31
Balance
Ref
V
Debit
-
Credit
-
Debit
200.000
Credit
-
Des
Accum. Depr. Building
No. 117
Balance
Date
1997
Explanation
31
Balance
Ref
V
Debit
-
Credit
-
Debit
-
Credit
40.000
36
Des
Adjusted post
Ju13
-
10.000
Account Payable
-
50.000
No. 211
Balance
Date
1997
Explanation
31
Balance
Ref
V
Debit
-
Credit
Debit
-
Credit
-
760.000
Des
Unearned revenues
No. 212
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Balance
V
-
-
-
90.000
Adjusted post
Ju13
64.000
-
-
26.000
Salaries Payable
No. 213
Balance
Date
1997
Explanation
31
Adjusted post
Ref
Ju13
Debit
-
Credit
Debit
10.000
-
Credit
10.000
Des
Hani’s Capital
No. 311
Balance
Date
1997
Des
Explanation
31
Ref
Debit
Credit
Debit
Credit
Balance
V
-
-
-
586.000
Closing post
Ju14
-
198.000
-
784.000
Closing post
Ju14
130.000
-
-
654.000
Hani’s Drawing
No. 321
Balance
Date
Explanation
Ref
Debit
Credit
Debit
Credit
37
1997
31
Des
Balance
V
-
-
130.000
-
Closing post
Ju14
-
130.000
-
-
Income Summary
No. 331
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Closing post
Ju14
-
636.000
-
636.000
Closing post
Ju14
438.000
-
-
198.000
Closing post
Ju14
198.000
-
-
-
Service Revenue
No. 411
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Balance
V
-
-
-
572.000
Adjusted post
Ju13
-
64.000
-
636.000
Closing post
Ju14
636.000
-
-
-
Salaries expenses
No. 511
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Balance
V
-
-
-
344.000
Adjusted post
Ju13
10.000
-
-
354.000
Closing post
Ju14
-
354.000
-
-
Accum. Depr. Vehicle Expenses
No. 512
Balance
Date
1997
Explanation
31
Adjusted post
Ref
Ju13
Debit
40.000
Credit
-
Debit
40.000
Credit
-
38
Des
Closing post
Ju14
-
40.000
Accum. Depr. Building Expenses
-
-
No. 513
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Adjusted post
Ju13
10.000
-
10.000
-
Closing post
Ju14
-
10.000
-
-
Supplies Expenses
No. 514
Balance
Date
1997
Explanation
31
Des
Ref
Debit
Credit
Debit
Credit
Adjusted post
Ju13
8.000
-
8.000
-
Closing post
Ju14
-
8.000
-
-
Other’s Expenses
No. 514
Balance
Date
1997
Des
Explanation
31
Ref
Debit
Credit
Debit
Credit
Adjusted post
Ju13
-
-
26.000
-
Closing post
Ju14
-
26.000
-
-
7.Closing Afters Trial Balance collation
After adjustment journal sentence and closing journal sentence posting goes to ledger, at
arranges post closing trial balance. post closing trial balance is register akuns permanent and its
balance closing journal sentence afterses at posting goes to ledger. To the effect arrange trial
balance is subject to be prove balance from akuns permanent to be moved next accounting period.
Since akun is interim account gets zero balance( 0) therefore post closing trial balance just contains
akuns permanent.
39
Example:
Post closing trial balance from akuns Transportation service firm ledger Anggara's Dawn,
are one for following:
Anggkutan's service firm “ Dawn ” Anggara
Post closing trial balance
Per 31st December 2002
( In Thousands Rupiahs) following:
Account
Account Name
Adjusted Trial Balance
number
Debit
Credit
111
Cash
Rp 396.000,-
112
Account recevable supplies
Rp 740.000,-
113
Supplies
Rp
114
Vehicle
Rp 500.000,-
115
Accum. Depr. Vihicle
116
Building
117
Accum. Depr. Building
211
Account payable
Rp
212
Unearned revenues
Rp 760.000,-
213
Salaries Payable
Rp
26.000,-
311
Mar's capital
Rp
10.000,-
Jumlah
Rp 645.000,-
4.000,-
Rp 340.000,Rp 200.000,-
Rp 1.840.000,-
1.
50.000,-
Rp 1.840.000,-
Inversion post
Reversing Entries is made in the early period( year) next with turn back adjusted post back
already been made at the early last period. Reversing's postal registry only an option / stage option
in an accounting cycle( may be utilized / may be not)
40
To the effect recording Reversing Entries is subject to be simplify transactions registry that gets
bearing with postal adjusted and to avoid because fault forgets that that transactions get bearing
with postal adjusted last period. Reversing's post often been utilized to turn back charges fitting
journal that stills thirsty be paid. ( accrued) or accrued income, rarely been utilized for Reversing
charges fitting journal that is paid in advance and unearned revenues( differed)
Example:
1. wages & pay a firm was paid by two weeks once on saturday emotion, which is date 14 & 28 on
december 2002 and date of 11th January 2003
2. wages that paid by date 14th December 2002 as big as Rp 800.000,- and date 28th December
2002 as big as Rp 1.000.000,3. wages that stills to have is paid on the fifteenth 31st December 2002 two-day which is mondays
and Tuesday as big as Rp 200.000,date of 11th January paid by wages as big as Rp 1.200.000
a. Notes in Journal without using reversing entries:
Dec, 14th 2002: Pay Salary
Dr
: Salaries Expense
Cr
:
Rp 800.000,-
Cash
Rp 800.000,-
Dec, 28th 2002: Pay Salary
Dr
: Salaries Expense
Cr
:
Rp 1.000.000,-
Cash
Rp 1.000.000,-
Dec, 31st 2002: Adjustment Pos
Dr
: Salaries Expense
Cr
:
Rp 200.000,-
Salaries Payable
Rp 200.000,-
Dec, 31st 2002: Closing Pos
Dr
: Profit/Loss Overview
Cr
:
Rp 200.000,-
Salaries Expense
Rp 200.000,-
Dec, 11th 2003: Pay Salary
Dr
: Salaries Expense
Rp 1.000.000,-
Dr
: Salaries Payable
Rp
200.000,-
41
Cr
:
Cash
Rp 1.200.000,-
b. Notes in Journal using reversing entries:
Dec, 14th 2002: Pay Salary
Dr
: Salaries Expense
Cr
:
Cash
Rp 800.000,Rp 800.000,-
Dec, 28th 2002: Pay Salary
Dr
: Salaries Expense
Cr
:
Cash
Rp 1.000.000,Rp 1.000.000,-
Dec, 31st 2002: Adjustment Pos
Dr
: Salaries Expense
Cr
:
Salaries Payable
Rp 200.000,Rp 200.000,-
Jan, 2nd 2003: Closing Pos
Dr
: Salaries Payable
Cr
:
Salaries Expense
Rp 200.000,Rp 200.000,-
Jan, 11th 2002: Pay Salary
Dr
: Salaries Expense
Cr
:
Cash
Rp 1.200.000,Rp 1.200.000,-
On the fifteenth period until first month of January payoff 2003 account “Salaries Expense” has
credit balances as big as Rp 2.000.000,- this not normal, but with first Salaries payment of January,
so that Salaries Expense on January 11th 2003, using or without using reversing entries. which is
have debit balance as big as Rp 1.000.000,-
9. Accounting cycle
The steps of accounting procedure begin from record in document until closing trial
balance collation called by accounting cycle. Important information of accounting cycle is financial
report which is balance, profit or loss statement, and capital changed list.
Steps in accounting cycle is transactions record in document, are as follows:
a. Analyze the transactions and record in journal
b. Posting the transactions to ledger
c. Trial balance is arranged, record adjustment data and finish the work sheet
d. Arrange Financial statement
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e. Record Adjustment post in journal and posted to ledger
f. Record Closing post in journal and posted to ledger
g. Arrange Trial Balance After Closing
C. EXERCISES
1. The Balance Sheet of “ Usaha Binatu Sehat ” in the end of accounting period on
December 31st 2004 as follows:
“USAHA BINATU SEHAT”
BALANCE SHEET
Per December 31st 2004
Cash
Rp 10.800.000.-
Account Receivable
Rp 6.400.000,-
Supplies
Rp 4.400.000,-
Equipment
Rp 24.000.000,-
Accum. Depreciation of Equipment
Rp 4.800.000,-
Account Payable
Rp 4.400.000,-
Unearned Revenue
Rp 1.200.000,-
Susi’s Capital
Rp 28.000.000,-
Susi’s Drawing
Rp 2.400.000,-
Service Revenue
Rp 12.000.000,-
Salaries Expense
Rp 2.000.000,-
Other Expense
Rp
400.000,-
Rp 50.400.000,-
Rp 50.400.000,-
Data on December 31st 2004 as follow:
1. Physical Count of Supplies is Rp 1.400.000,2. Depreciation of equipment in 2004 is Rp 1.000.000,3. Unearned Revenue that hasn’t become income in 2004 is Rp 200.000,-
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4. Salaries Payable is Rp .1.000.000,-
Notes:
Account chart shows that beside Real Account in that Balance Sheet, there are also accounts as:
Salaries Payable, Depreciation Expense and Supplies Expense.
Task:
a. Prepare Work Sheet
b. Prepare financial reports from that Work Sheet
c. Prepare Adjusting Journal Entries from the data in Work Sheet
d. Prepare Closing Journal Entries from the data in Work Sheet
e. Prepare also Reversing Entries at the beginning 2005
2. The Balance Sheet of “ Bengkel Mobil Ahmad ” in the end of accounting period on
December 31st 2004 as follows:
“BENGKEL MOBIL AHMAD”
BALANCE SHEET
Per December 31st 2004
Cash
Supplies
Prepaid Insurance
Equipment
Accum. Depreciation of Equipment
Car
Accum. Depreciation of Car
Account Payable
Ahmad’s Capital
Ahmad’s Drawing
Service Revenue
Salaries Expense
Rent Expense
Car Expense
Other Expense
Rp 13.900.000,Rp 8.590.000,Rp 5.470.000,Rp 81.300.000,Rp 22.418.000,Rp 72.600.000,Rp 12.800.000,Rp 4.030.000,Rp 80852.000,Rp 10.000.000,Rp 179.900.000,Rp 67.850.000,Rp 19.200.000,Rp 16.700.000,Rp 4.390.000,Rp 300.000.000,-
Rp 300.000.000,-
Data Per March 31st 1999 as follow:
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a. Supplies Rp. 2.604.000,b. Premi asuransi yang telah jatuh tempo Rp. 2.100.000,c. Depreciation of Equipment Rp. 6.670.000,d. Depreciation of Car Rp. 8.800.000,e. Salaries Payable Rp. 1.300.000,-
Task:
1. Prepare Work Sheet
2. Prepare Adjusting Entries from that Work Sheet
3. Prepare Closing Entries from that Work Sheet
Notes:
In the account chart of Bengkel Mobil Ahmad there are also accounts as: Salaries Payable,
Supplies Expense, Insurance Expense, Depreciation of Equipment Expense, and Depreciation of
Car Expense.
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D. SUMMARY
 Steps in preparing a work sheet as follow :
a. Prepare Balance Sheet on Balance Sheet Form
b. Insert Adjusting Entries into Adjustment Column
c. Insert the balance which have been adjusted into Adjusted Trial Balance Column
d. Move the balance of Adjusted Trial Balance Column to Profit or Loss Overview
Column
e. Add Profit or Loss Overview Column and Balance column and count profit or loss
net loss, then adjust the Balance Sheet
 Foreclosure binds books always be done each period final. Closing process to be done by
make Closing Journal and posting into ledger. Closing process to be done by closes
income account and Expense Account moved into profit or loss overview, close profit or
loss overview into capital account, and closes withdrawal account to capital account.
 Trial balance moved to the next accounting period. The purpose of preparing trial
balance after closing is to prove balance of Balance Accounts.
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BAB IV REFERENCES
1. Soemantri, Henri, Drs, “ Dasar – dasar akuntansi “ , Armico Bandung,1995
2. Marbun, Mustafa, Drs, M.M , “ Siklus akuntansi “ , CV IKED Solo, 2002
3. Hadibroto,S. Prof. DR. Dacniel Lubis, Sudrajat Sukamdani. “ Dasar - dasar akuntasi “
Penerbit LP3ES Jakarta
4. Munawir, S , Drs , “ Analisi Laporan Keuangan “ Edisi 2 , Liberty. Yogyakarta 1983
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