e: Basic Concepts of Accounting(AccountingRecordandSystem).pptx

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Accounting Records and Systems

(3rd and 4th Week Assignment)

By

Alexander H.K.P

Kelas F-1311306356040



Problem 4-2

Transaction Analysis During May1. The Company Prepaid $14,340 rent for the period May 1- October 31

Analysis :Transaksi ini mengurangi Cash sebesar $14,340 (cr)

Dan menambah Asset dari Prepaid Rent sebesar$14,340 (dr)

2. Sales Discount and allowance were $34,150

Analysis:

Sales Discount and allowance adalah hasil dari pengurangan penjualan kotor (gross sale)

untuk mendapatkan penjualan bersih (net sales) yang dicatatkan sebagai Expense.

Expense bertambah maka,

Sales Discount and allowance $34,150 (dr)

Lawan dari Sales Discount and allowance adalah Provision for Sales Discounts and

Allowances sebagai liabilities bertambah sebesar $34,150 (cr)

3. A loan for $3,500 at 12 % interest continued to be owed to the company by one of its

employees, who made no payment related to this loan during May.

Analysis :

Pinjaman dari perusahaan untuk bulan mei yg belum dibayarkan , dengan asumsi

pinjaman periode 1 tahun, sebesar $3,500 dengan bunga 12 % / tahun 1 %

perbulan, Maka

Interest Receivable pada Asset bertambah sebesar $35 (dr) (hasil dari $3,500 * 1 %)Interest Income pada Pendapatan lainnya bertambah sebesar $35 (cr)



Problem 4-2

Transaction Analysis During May4. Depreciation expense was $13,660

Analysis:Transaksi ini Menambah Depreciation Expense sebesar $13,660 (dr)

Dan Accumulated depreciation pada asset sebesar $13,660 (cr)

5. Customer paid $2,730 for services they will not receive until sometime in June

Analysis:

Transaksi ini menambah $2,730 pada cash (dr)

Dan menambah Deffered revenue pada liability sebesar $2,730 (cr)

6. Purchased $172 worth of stamps and used $100 worh of them

Analysis :

Transaksi ini mengurangi cash sebesar $172 (cr)

Menambah Stamp Expense sebesar $100 (dr)

Dan menambah Inventory pada Asset sebesar $72 (dr)

7. Allowance for Doubtfull Accounts was increased by $1,350

Analysis:

Transaksi ini Menambah Bad Debt Expense sebesar $1,350 (dr)

Dan menambah Allowance for Doubtful Accounts sebesar $1,350 (cr) yang akan

mengurangi account receivable



Problem 4-2 : Journal for Woodside Company

As Of May

Date Descriptions Dr

(in $)

Cr

(in $)

1 Prepaid Rent 14,340

Cash 14,340

2 Sales Discounts and Allowances 34,150

Provision for Sales Discounts and Allowances 34,150

3 Interest Receivable 35

Interest Income 35

4 Depreciation Expense 13,660

Accumulated Depreciation 13,660

5 Cash 2,730

Deferred revenue 2,7306 Stamp Expense 100

Stamp Inventory 72

Cash 172

7 Bad debt expense 1,350

Allowance for doubtful accounts 1,350



Problem 5-4 Hurron Corporation Bad

Debts Analysis

Berdasarkan Keterangan yang diberikan, untuk

periode 31 December, fakta yang didapat

adalah :

1. Balance pada Account Receivable sebesar

$750,000

2. Dan Balance pada Allowance for Doubtful

Accounts sebesar$37,500



a. Perhitungan Pada Allowance for

Doubtful Accounts Pada 31 DecemberDays Account Outstanding Amount Expected percentage

Uncollectible *

Estimated Uncollectible

0-15 days $450,000 .01 $ 4,500

16-30 days 150,000 .06 9,000

31-45 days 75,000 .20 15,000

46-60 days 45,000 .35 15,750

61-75 15,000 .50 7,500

Balance for Allowance for

Doubtful Accounts

$51,750

* (Probability of collection.)

Untuk akun yg memiliki 0 % kemungkinan untuk ditagih dan memiliki jangka

waktu tagih > 75 hari, dilakukan penghapusan



b. Nilai pada Account Receivable pada

31 December• Seperti data yg sudah diketahui

Account Receivable semula $735,000

Setelah dilakukan perhitungan nilai untuk Allowance for Doubtful Accounts

pada point A sebesar $51,750, Maka Nett Account Receivable setelah

dikurangi Allowance for Doubtful Accounts sebesar $683,250 . Sepertidapat terlihat pada tabel dibawah ini:

Date Descriptions Dr (in $) Cr (in $)

Account Receivable 735,000

Less : Allowance for DoubtfulAccounts

51,750

31 Dec Nett Accounts Receivable 683,250



c. Dollar Effect of the year-end Bad

debt Adjustment• Sebelumnya diketahui

1. Estimasi Nilai pada Allowance for Doubtfull Accounts pada tabel point a. Sebesar $51,750

2 . Nilai pada Allowance for Doubtful Accounts sebesar $37,500

Pada 31 December dilakukan penghapusan untuk transaksi yg memiliki 0 % pada Probability of

collection dgn jangka waktu tagih > 75 hari sebesar $15,000

Maka, balance pada Allowance for Doubtful accounts setelah write off tetapi sebelumAdjustment adalah sebesar :

Adjustment $37,500 - $15,000 = $22,500

Maka pada ahir periode Bad Debt Adjustment akan mengurangi penghasilan sebelum pajak

sebesar $29,250 (Hasil dari $51,750 – $15,000):

Estimated Bad Debt Expense (in $)

51,750 (1)

22,500 (2)

Estimated Bad Debt Expense

= 29,250



Case 4-3 : Copies Express

Transaction AnalysisBerdasarkan :

1. Cash and receipts disbrussements pada Exhibit 2

2. Other information pada exhibit 3

Dapat Dibuat Analisa Transaksi sebagai berikut,

From EXHIBIT 2 :

1. Cash bertambah sebesar $176,450 (dr)2. Sales Bertambah $176,450 (cr)

3. Penjualan dibayar kredit, Account Receivable bertambah $67,450 (dr)

4. Sales Bertambah $67,450 (cr)

5. Hasil collect ,Cash Bertambah $67,450 (dr)

6. Account Receivable berkurang $67,450 (cr)

7. Expense Heat,Light, Power $15,000 (dr)

8. Cash Berkurang $15,000 (cr)9. Supplies Inventory bertambah $52,600 (dr)

10. Cash Berkurang $52,600 (cr)

11. Expense Selling and Administration $28,375 (dr)


13. Expense Interest $2,880 (dr)




Case 4-3 : Copies Express

Transaction Analysis15. Bank Loan berkurang $12,000 (dr)


17. Accounts Payable berkurang $10,400 (dr)


From Exhibit 3 :

19. Supplies Inventory $9,875 (dr)

20. Account Payable $9,875 (cr)

21. Depreciation Expense $15,000 (dr)

22. Accumulated Deprecitation $15,000 (cr)

23. Accounts Receivable $11,000 (dr)

24. Sales $11,000 (cr)

25. Cost of Supplies Used $60,250 (dr)26. Supplies inventory berkurang $60,250 (cr)

27. Tax Expense $11,593 (dr)

28. Tax Payable $11,593 (cr)



Journal EntriesDate 2010 Description Dr (in $) Cr (in $)

1 Cash 176,450

Sales 176,450

2 Account Receivable 64,750

Sales 64,750

Cash 64,750

Accounts Receivable 64,7503 Wages & Salaries Expense 85,750

Cash 85,750

4 Heat, Light & Power Expense 15,000

Cash 15,000

5 Supplies Inventory 52,600

Cash 52,600

6 Expense Selling & Administration 28,375

Cash 28,375

7 Interest Expense 2,880

Cash 2,880



Journal Entries

Date 2010 Description Dr (in $) Cr (in $)8 Bank Loan 12,000

Cash 12,000

9 Accounts Payable 10,400

Cash 10,400

10 Supplies Inventory 9,875

Accounts Payable 9,875

11 Depreciation Expense 15,000

Acc. Depreciation 15,000

12 Accounts Receivable 11,000

Sales 11,000

13 Cost of Supplies Used 60,250

Supplies Inventory 60,250

14 Tax Expense 11,593

Tax Payable 11,593



Adjustment (in $)

Sales

176,450 (1)

64,750 (2)

11,000 (12)

Total Sales 252,200

Cost Of Supplies Used

60,250 (13)

Wages & Salaries Expense

85,750 (3)

Cash

2,000

176,450 (1) 85,750 (3)

64,750 (2) 15,000 (4)

52,600 (5)

28,375 (6)

2,880 (7)

12,000 (8)

10,400 (9)

Total Cash

= 36,195

Selling & Admin Expense

28,375 (6)

Depreciation

15,000 (11)

Interest Expense

2,880 (7)

Income Taxes Expense

11,593(14)

Building & Equipment

300,000

Land

12,000



Copies Express

Income Statement

For Year Ended December 31, 2010

Sales $252,200

Operating Expenses :

Cost of Supplies Used $60,250

Wages and Salaries 85,750

Heat, Light and Power 15,000

Selling and Administration 28,375

Depreciation 15,000

Total 204,375

Operating Income47,825

Interest Expense 2,880

Income Before Taxes 44,945

Income Taxes 11,593

Net Income $ 33,352



Retained Earnings

• Dari Hasil Income statements dapat terlihat

bahwa terdapat Net Income sebesar $ 33,352

Yang mempengaruhi :

• Retained Earnings $ 33,352



Copies Express

Balance Sheet

As Of December 31, 2010 (in $)

Assets Liabilities and Owners’

Equity

Current assets : Current liabilities :

Cash 36,195 Accounts payable 9,875

Accounts receivable 11,000 Taxes payable 11,593

Supplies inventory 26,625 Total 21,468

Total 73,820 Long-term debt:

Property, plant and equipment Bank loan 12,000

Building and equipment 300,000 Owners’ equity:

Less: Accumulated

depreciation

15,000 285,000 Capital stock 304,000

Land 12,000 Retained earnings 33,352

Total Assets 297,000 Total 337,352

$370,820 Total liabilities and owners’

equity

$370,820



Case 5-1 : Stern Corporation

Dapat Diketahui bahwa:

No Date Desription Dr (in $) Cr (in $)

1 2010 Accounts Receivable 9,965,575

Sales 9,965,575

2 2010 Cash 9,685,420

Accounts Receivable 9,685,420

3 2010 Allowance for DoubtfulAccounts

26,854

Accounts

Receivable

26,854



Transaction Analysis

4. Cash Bertambah $3,674 ($2,108 + $1,566) (dr)

5. Allowance for Doubtful Accounts bertambahsebesar $4,594 ( $2,108 + $2,486) (cr)

6. Bad Debt Expense Berkurang $3,674 (cr)7. Other Income bertambah $3,674 (cr)

8. Accounts Receivable, December 31, 2009

$988,2579. Yang masih bisa ditagih dari Partial Payment (4)sebesar $920 ($2,486 - $1,566)



Account Receivable Remaining

AnalysisDate Description Dr (in $) Cr (in $)

2009 Accounts Receivable, December

31, 2009

988,257

2010 Accounts Receivable, December

31, 2010

9,965,575

Total 10,953,832

2010 Account Receivable Payment 2010 9,685,420

Total 1,268,412

2010 written off in 2010 26,854

Total 1,241,558

2010 Still In Due 920

Total $1,242,478



Bad Debts Analysis

• bad debt expense = 0.3 percent * $1,242,478 =

$37,274

• Maka :

Descriptions Reff Amount (in $)

Allowance for Doubtful Accounts, December 31,

2009

29,648

Less Accounts Receivable written off in 2010 (3) 26,854

2,794

increase to Allowance for Doubtful Accounts (4) 4,594

Balance in account 7,388

additional bad debt expense 29,886

Total allowance for Doubtful Accounts, December

31, 2010

$37,274



Balance of Accounts 2010

• Diketahui dari Analisa Sebelumnya didapat :

• Maka Account Receivable Untuk 2010 adalah :

Date Description Amount

2010 Total allowance for Doubtful

Accounts, December 31, 2010

$37,274

Balance of accounts as of December 31, 2010:Accounts Receivable $1,242,478

Less allowance for doubtful accounts 37,274

$1,205,204



Ratios

Descriptions 2010

Current ratio 2.7

Acid-test ratio 1.5

Days’ cash N/A

Days’ receivables 44.1

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