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DASAR DASAR AKUNTANSI

SEPTEMBER 04, 2023

KUMPULKAN SAAT PERTEMUAN DI KELAS

PROBLEM

1. Organize the following accounts into the usual sequence of a chart of accounts.

Miscellaneous Expense
Accounts Payable
Accounts Receivable
Cash
Gordon Wells, Capital
Fees Earned
Prepaid Rent
Salaries Expense
Unearned Revenue
Gordon Wells, Drawing
Answer

Assets Equity
• Cash • Gordon Wells, Capital
• Accounts Receivable • Gordon Wells, Drawing
• Prepaid Rent
Revenue
Liabilities • Fees Earned
• Accounts Payable
• Unearned Revenue Expenses
• Salaries Expense
• Miscellaneous Expense

2. Selected accounts from the ledger of Hughes Company appear below. For each account,
indicate the following:

(a) In the first column at the right, indicate the nature of each account, using the
following abbreviations:

Asset - A Revenue - R
Liability - L Expense - E
None of the above - N

(b) In the second column, indicate the increase side of each account by inserting
Dr. or Cr.

Type of Increase
Account Account Side
(1) Supplies
(2) Notes Receivable
(3) Fees Earned R Cr
(4 Phillips, Drawing
(5) Accounts Payable
(6) Salaries Expense
(7) Hughes Capital
(8) Accounts Receivable
(9) Equipment
(10) Notes Payable
 3. Increases and decreases in various types of accounts are listed below. In each case, indicate
by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a
credit and (b) whether the normal balance of the account is a debit or a credit.

(a) (b)
Recorded Normal
As Balance
(1) Increase in D. Demsey, Capital Cr Cr
(2) Increase in D. Demsey, Drawing Dr Dr
(3) Decrease in Accounts Receivable Cr Dr
(4) Increase in Note Payable Cr Cr
(5) Increase in Accounts Payable Cr Cr
(6) Decrease in Supplies Cr Dr
(7) Decrease in Salaries Expense Cr Dr
(8) Increase in Accounts Receivable Dr Dr
(9) Increase in Cash Dr Dr
(10) Decrease in Land Dr Cr

4. Record the following selected transactions for March in a two-column journal, identifying
each entry by letter:

(a) Received $10,000 from Shirley Knowles, owner.

(b) Purchased equipment for $35,000, paying $10,000 in cash and giving a note
payable for the remainder.
(c) Paid $1,000 for rent for March.
(d) Purchased $8,500 of supplies on account.
(e) Recorded $2,500 of fees earned on account.
(f) Received $11,000 in cash for fees earned.
(g) Paid $200 to creditors on account.
(h) Paid wages of $1,250.
(i) Received $1,150 from customers on account.
(j) Recorded owner's withdrawal of $1,850.
Answer
a. Cash $10,000 f. Cash $11,000
Share Capital $10,000 A/R $11,000
b. Equipment $35,000 g. A/P $200
Cash $25,000 Cash $200
Notes Receivable $10,000 h. Wages Expenses $1,250
c. Rent Expenses $1,000 Cash $1,250
Cash $1,000 i. A/R $1,150
d. Supplies $8,500 Revenue $1,150
A/P $8,500 j. Withdrawal $1,850
e. A/R $2,500 Cash $1,850
Fees earned $2,500

5. Prepare a trial balance, listing the following accounts in proper sequence. The accounts (all
normal balances) were taken from the ledger of Jilson Consultants on June 30, 2005.
 Accounts Payable $ 2,100 Rent Expense $10,500
Accounts Receivable 1,450 Salary Expense 13,000
Cash 5,375 Fees Earned 46,600
Judy Jilson, Capital 15,800 Supplies 1,125
Judy Jilson, Drawing 13,500 Supplies Expense 1,400
Equipment 13,500 Utilities Expense 4,400
Miscellaneous Expense 250

Answer
Jilson Consultants
Trial Balance
June 30, 2005

Account Debit ($) Credit ($)

--------------------------------------------------------------------------------------------------
Cash 5,375
Accounts Receivable 1,450
Supplies 1,125
Equipment 13,500
Accounts Payable 2,100
Judy Jilson, Capital 15,800
Judy Jilson, Drawing 13,500
Rent Expense 10,500
Salary Expense 13,000
Supplies Expense 1,400
Utilities Expense 4,400
Miscellaneous Expense 250
Fees Earned 46,600
--------------------------------------------------------------------------------------------------
Total 50,850 50,850
--------------------------------------------------------------------------------------------------
 6.
(a) List the errors in the following trial balance. All accounts have normal balances.

(b) What would be the new balance of the trial balance after errors are corrected?
What would be the balance of Accounts Receivable?
Herb's Auto Service
Trial Balance
For Month Ending September 30, 2005
Cash 19,475
Accounts Receivable ?
Supplies 1,000
Equipment 15,000
Prepaid Insurance 500
Accounts Payable 2,500
Herb Cole, Capital 17,000
Herb Cole, Drawing 1,000
Fees Earned 49,600
Salary Expense 14,500
Rent Expense 9,000
Utilities Expense 1,400
Supplies Expense 3,900
Miscellaneous Expense 250
55,000 81,575
====== ======
Answer
Herb's Auto Service Trial Balance
For Month Ending September 30, 2005
Cash 19475
Accounts Receivable 2950
Supplies 1000
Equipment 15000
Prepaid Insurance 500
Accounts Payable 2500
Herb Cole, Capital 17000
Herb Cole, Drawing 1000
Fees Earned 49600
Salary Expense 14500
Rent Expense 9000
Utilities Expense 14000
Supplies Expense 39000
Miscellaneous Expense 250
131925 53850
====== ======
 7. Journalize the entries to correct the following errors:
(a) A purchase of supplies for $100 on account was recorded and posted as a
debit to Supplies for $400 and as a credit to Accounts Receivable for $400.
(b) A receipt of $3,000 from Fees Earned was recorded and posted as a debit to
Fees Earned for $3,000 and a credit to Cash for $3,000.

8. Analyze the following transactions as to their effect on the accounting equation.

(a) The company paid $225 to a vendor for supplies purchased previously on account.
(b) The company performed $1,050 of services and billed the customer.
(c) The company received a utility bill for $195 and will pay it next month.
(d) The owner of the company withdrew $50 of supplies for personal use.
(e) The company paid $305 in salaries to its employees.
(f) The company collected $725 of cash from its customers on account.

Some of the possible effects of a transaction on the accounting equation are listed below:
1. Asset, dr.; Asset, cr.
2. Asset, dr.; Owner's Equity, cr.
3. Asset, dr.; Liability, cr.
4. Asset, dr.; Revenue, cr.
5. Liability, dr.; Assets, cr.
6. Drawing, dr.; Asset, cr.

Answer

(a) The company paid $225 to a vendor for supplies purchased previously on account.

Effect:
Assets (Supplies) decrease by $225 (debit).
Liabilities (Accounts Payable) decrease by $225 (credit).
Effect on the accounting equation: 1 (Asset, dr.; Liability, cr.)

(b) The company performed $1,050 of services and billed the customer.

Effect:
Assets (Accounts Receivable) increase by $1,050 (debit).
Owner's Equity (Revenue) increases by $1,050 (credit).
Effect on the accounting equation: 4 (Asset, dr.; Revenue, cr.)

(c) The company received a utility bill for $195 and will pay it next month.

Effect:
Liabilities (Accounts Payable) increase by $195 (debit).
Effect on the accounting equation: 3 (Asset, dr.; Liability, cr.)

(d) The owner of the company withdrew $50 of supplies for personal use.

Effect:
Owner's Equity (Drawing) increases by $50 (debit).
Assets (Supplies) decrease by $50 (credit).
Effect on the accounting equation: 6 (Drawing, dr.; Asset, cr.)
(e) The company paid $305 in salaries to its employees.

Effect:
Assets (Cash) decrease by $305 (debit).
Owner's Equity (Salary Expense) decreases by $305 (credit).
Effect on the accounting equation: 2 (Asset, dr.; Owner's Equity, cr.)

(f) The company collected $725 of cash from its customers on account.

Effect:
Assets (Cash) increase by $725 (debit).
Assets (Accounts Receivable) decrease by $725 (credit).
Effect on the accounting equation: 1 (Asset, dr.; Asset, cr.)
 7. Expense, dr.; Assets, cr.
8. Expense, dr.; Liability, cr.

Put the appropriate letter next to each transaction.