2nd Class Assignment
By ANBI assistants
1. EX 2-1
The following accounts appeared in recent financial statements of
Garuda Indonesia
Accounts Payable
Flight Equipment
Aircraft Fuel Expense
Landing Fees
Air Traffic Liability
Passenger Revenue
Cargo and Mail Revenue
Purchase Deposits for Flight Equipment
Commissions
Spare Parts and Supplies
Identify each account as either a balance sheet account or an income
statement account. For each balance sheet account, identify it as an
asset, a liability, or owner’s equity. For each income statement
account, identify it as a revenue or an expense
2. EX 2-4
Lemon Jaya is a travel agency. The nine transactions recorded by Lemon
during March 2008, its first month of operations, are indicated in the
following T accounts
Cash
(1) 30,000,000 (2) 1,800,000
(7) 10,000,000 (3) 9,000,000
(4) 3,050,000
(6) 7,500,000
(8) 2,500,000
Equipment
(3) 24,000,000
Lemon Jaya, Drawing
(8) 2,500,000
Accounts Receivable
(5) 15,000,000
(7) 10,000,000
Supplies
(2) 1,800,000
Service Revenue
Accounts Payable
(6) 7,500,000
Operating Expenses
Lemon Jaya, Capital
(9) 1,050,000
(5) 15,000,000
(3) 15,000,000
(1) 30,000,000
(4) 3,050,000
(9) 1,050,000
Indicate for each debit and each credit : (a) whether an asset,
liability, owner’s equity, drawing, revenue, or expense account
was affected and (b) whether the account was increased (+) or
decreased (-). Present your answer in the following form, with
transaction (1) given as an example:
Account Debited
Account Credited
Transaction
Type
Effect
Type
Effect
(1)
asset
+
Owner’s
equity
+
3. EX 2-5 EX 2-6
Based upon the T accounts in number 2
(Exercise 2-4)
a. prepare the nine journal entries from which
the postings were made. Journal entry
explanations may be omitted
b. prepare an unadjusted trial balance, listing
the accounts in their proper order
4. EX 2-15
The following selected transactions were completed during May of the
current year :
1. Billed customers for fees earned, Rp 12,190,000
2. Purchased supplies on account, Rp 1,250,000
3. Received cash from customers on account, Rp 9,150,000
4. Paid creditors on account, Rp 750,000
a.
b.
Journalize the above transactions in a two-column journal, using
the appropriate number to identify the transactions. Journal
explanations may be omitted
Post the entries prepared in (a) to the following T accounts : cash,
supplies, account receivable, accounts payable, fees earned. To
the left of each amount posted in the accounts, place the
appropriate number to identify the transactions.