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Soal 1
Instruction: Journalize the transactions below.
KANOPI inc. was started on September 1. A summary of September
transactions are presented below.
1. Shareholders invested $400,000 cash in the business in exchange
for ordinary shares.
2. Purchased equipment for $180,000 cash.
3. Paid $66,000 cash for August office rent.
4. Paid $2,000 cash for office supplies.
5. Incurred $ 10,000 of advertising cost in the New York Times on
account.
6. Received $7,500 cash from customer for $90,000 services provided.
The remaining is billed to customers on account.
7. Declared and paid $22,000 cash dividend.
8. Paid part-time employee salaries $8,300.
9. Paid utility bills $1,800.
10. Paid the local newspaper due in transaction (5).
11. Provided repair service on account to customers $4,400.
12. Collected cash of $3,400. for service billed in transaction (11).
Soal 2.
Werewolf company is a computer repair service. The following selected
events and transactions occurred during January 2016.
January.
1
Shareholders invested $75,000 cash in business in exchange for
ordinary shares.
3
Incurred advertising expense of $ 10,700 on account.
6
Hired a Repairman at a salary of $ 3,900 per month.
7
Purchased $ 5,200 of supplies on account from Repairsy Company.
9
Paid office rent of $ 2,000 cash for the month.
12
Billed client for service performed $ 6,600.
14
Received $4,100 advance on a service provided.
17
Received cash of $2,800 for services completed for Holland Corp.
23
Paid $3,100 for transaction on January, 7.
25
Paid for advertising incurred on January,3.
31
Paid Repairman salary for the month.
Werewolf company uses the following chart of accounts: No.101 Cash,
No.112 Account Receivable, No. 126 Supplies, No.201 Account Payable,
No. 209 Unearned Revenue, No. 311 Share Capital-Ordinary, No. 400
Service Revenue, No. 725 Advertising Expense No. 726 Salaries Expense, No.
Debit
Cash
112
Account Receivable
126
Supplies
130
Prepaid Insurance
140
Land
141
Building
157
Equipment
201
Account Payable
209
275
Mortgage Payable
311
Share Capital-Ordinary
400
Rent Revenue
610
Advertising Expense
726
729
Utilities Expense
Credit
$
9,500
3,0
00
2,0
00
6,0
00
28,0
00
40,0
00
32,0
00
$
5,500
4,5
00
70,0
00
35,0
00
15,0
00
5
00
5,5
00
3,5
00
$
130,000
$
130,000
SOAL 4
Bang-Bang Tooth Co., Inc. was organized on July 1, 2014. Quarterly financial
statements are prepared. The unadjusted and adjusted trial balance as of
September 30 are shown below
Bang-Bang Tooth Co., Inc.
Trial Balance
September 30, 2014
Trial
Account Titles
Cr.
Cash
Accounts Receivable
Supplies
Balance
Dr.
$
8,700
10,400
1,900
Prepaid Rent
Equipment
2,200
20,000
Accumulated Depreciation-Equipment
$
0
Notes Payable
10,000
Accounts Payable
3,200
Salaries and Wages Payable
0
Interest Payable
0
Unearned Rent Revenue
1,900
Share Capital-Ordinary
22,000
Dividends
1,000
Service Revenue
16,800
Rent Revenue
Salaries and Wages Expense
Rent Expense
1,710
8,000
1,900
Utilities Expense
1,510
$ 55,610
55,610
Other Data:
1) Services provided but unbilled at September 30 total $1,100
2) A physical count reveals only $650 of supplies on hand.
3) The office rent expired at the rate of $1,000 per month.
4) Depreciation for September shows $1,125.
5) Accrued salaries are $145 per employee. The company hired five
employees.
6) Interest 12% accrued on 12-month note payable, issued on
September 1 $100,000
7) Unearned Rent Revenue remain unearned to $1,050 at
September 30.
Instructions: