MODUL

LATIHAN II
PENGANTAR AKUNTANSI I

Dosen: Okky Rizkia Yustian, S.E., M.M.

Nama
NPM
Kelas

:
:
:

FAKULTAS BISNIS & MANAJEMEN

UNIVERSITAS WIDYATAMA
BANDUNG
2014

PROBLEM 1
Lyre Co. is a merchandising business. The account balances for Lyre Co. as of August 1,
2006 (unless otherwise indicated), are as follows:
110 Cash
$ 14,160
112 Accounts Receivable
34,220
115 Merchandise Inventory
133,900
116
Prepaid Insurance
3,750
117 Store Supplies
2,550
123 Store Equipment
104,300
124 Accumulated DepreciationStore Equipment
12,600
210 Accounts Payable
21,450
211 Salaries Payable

310 Kevin Wilcox, Capital, September 1, 2005

103,280
311 Kevin Wilcox, Drawing
10,000
312 Income Summary

410 Sales
715,800
411 Sales Returns and Allowances
20,600
412 Sales Discounts
13,200
510 Cost of Merchandise Sold
360,500
520 Sales Salaries Expense
74,400
521 Advertising Expense
18,000
522 Depreciation Expense

523 Store Supplies Expense

529 Miscellaneous Selling Expense

2,800
530 Office Salaries Expense
40,500
531 Rent Expense
18,600
532 Insurance Expense

539 Miscellaneous Administrative Expense

1,650
During August, the last month of the fiscal year, the following transactions were
completed:
Aug. 1. Paid rent for August, $1,600.
3. Purchased merchandise on account from Biathlon Co., terms 2/10,
n/30, FOB shipping point, $15,000.
4. Paid transportation charges on purchase of August 3, $400.
6. Sold merchandise on account to Hillcrest Co., terms 2/10, n/30, FOB
shipping point, $8,500. The cost of the merchandise sold was $5,000.
7. Received $7,500 cash from Aaberg Co. on account, no discount.
10. Sold merchandise for cash, $18,300. The cost of the merchandise
sold was $11,000.
13. Paid for merchandise purchased on August 3, less discount.
14. Received merchandise returned on sale of August 6, $1,500. The cost
of the merchandise returned was $900.
15. Paid advertising expense for last half of August, $1,500.
16. Received cash from sale of August 6, less return of August 14 and
discount.
19. Purchased merchandise for cash, $8,100.
19. Paid $6,100 to Ramler Co. on account, no discount.
20. Sold merchandise on account to Petroski Co., terms 1/10, n/30, FOB

shipping point, $16,000. The cost of the merchandise sold was $9,600.
21. For the convenience of the customer, paid shipping charges on sale of
August 20, $600.
21. Received $11,750 cash from Phillips Co. on account, no discount.
21. Purchased merchandise on account from Walden Co., terms 1/10,
n/30, FOB destination, $15,000.
24. Returned $3,500 of damaged merchandise purchased on August 21,
receiving credit from the seller.
26. Refunded cash on sales made for cash, $720. The cost of the
merchandise returned was $380.
28. Paid sales salaries of $1,750 and office salaries of $950.
29. Purchased store supplies for cash, $550.
30. Sold merchandise on account to Whitetail Co., terms 2/10, n/30, FOB
shipping point, $18,750. The cost of the merchandise sold was
$11,250.
30. Received cash from sale of August 20, less discount, plus
transportation paid on August 21.
31. Paid for purchase of August 21, less return of August 24 and discount.
Instructions
(Note: If the work sheet described in the appendix is used, follow the alternative
instructions.)
1. Enter the balances of each of the accounts in the appropriate balance
column of a four-column account. Write Balance in the item section,
and place a check mark (_) in the Posting Reference column.
2. Journalize the transactions for August.
3. Post the journal to the general ledger, extending the month-end
balances to the appropriate balance columns after all posting is
completed. In this problem, you are not required to update or post to
the accounts receivable and accounts payable subsidiary ledgers.
4. Journalize and post the adjusting entries, using the following
adjustment data:
a. Merchandise inventory on August 31 $124,115
b. Insurance expired during the year 1,250
c. Store supplies on hand on August 31 975
d. Depreciation for the current year 7,400
e. Accrued salaries on August 31:
Sales salaries
$350
Office salaries
180
530
5. Prepare a multiple-step income statement, a statement of owners
equity, and a report form of balance sheet.
6. Journalize and post the closing entries. Indicate closed accounts by
inserting a line in both balance columns opposite the closing entry.
Insert the new balance in the owners capital account.
7. Prepare a post-closing trial balance.

Cash
Date

110
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Accounts Receivable
Date

2006
Aug.

Item

112
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

Merchandise Inventory
Date

Item

115
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Prepaid Insurance
Date

Item

116
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Store Supplies
Date

117
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Store Equipment
Date

2006
Aug.

123
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

Accumulated DepreciationStore Equipment

Date

Item

Post.
Ref.

124
Balance

Dr.

Cr.

Dr.

Cr.

2006
Aug.

Accounts Payable
Date

Item

210
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Salaries Payable
Date

211
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Kevin Wilcox, Capital

Date

Item

310
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Kevin Wilcox, Drawing

Date

2006
Aug.

Item

311
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

Income Summary
Date

312
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Sales
Date

410
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Sales Returns and Allowances

Date

Item

411
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Sales Discounts
Date

2006
Aug.

412
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

Cost of Merchandise Sold

Date

Item

510
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Sales Salaries Expense

Date

Item

520
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Advertising Expense
Date

Item

521
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Depreciation Expense
Date

Item

522
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Store Supplies Expense

Date

2006
Aug.

Item

523
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

Miscellaneous Selling Expense

Date

Item

529
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Office Salaries Expense

Date

Item

530
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Rent Expense
Date

531
Item

Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Insurance Expense
Date

Item

532
Post.
Ref.

Balance
Dr.

Cr.

Dr.

Cr.

2006
Aug.

Miscellaneous Administrative Expense

Date

2006
Aug.

Item

Post.
Ref.

539
Balance
Dr.

Cr.

Dr.

Cr.

JOURNAL
Date

2006
Aug.

Description

Post.
Ref.

Debit

Credit

JOURNAL
Post.
Date

2006
Aug.

Description

Ref.

Debit

Credit

JOURNAL
Date

Description

Adjusting Entries
2006
Aug.

Post.
Ref.

Debit

Credit

JOURNAL
Date

Description

Closing Entries
2006
Aug.

Post.
Ref.

Debit

Credit

LYRE CO.
Income Statement
For the Year Ended August 31, 2006

LYRE CO.
Statement of Owners Equity
For the Year Ended August 31, 2006

LYRE CO.
Balance Sheet
August 31, 2006

LYRE CO.
Post-Closing Trial Balance
August 31, 2006

PROBLEM 2A
Lowry Company uses a sales journal, a cash receipts journal, and a general journal to
record transactions with its customers. Record the following transactions in the appropriate
journals. The cost of all merchandise sold was 70% of the sales price.

July

Sold merchandise for $15,000 to B. Rice on account. Credit terms 2/10, n/30. Sales
invoice No. 100.

July

Received a check for $800 from R. Hyatt in payment of his account.

July

Sold merchandise to F. Wenger for $900 cash.

July 10

Received a check in payment of Sales invoice No. 100 from B. Rice minus the 2%
discount.

July 15

Sold merchandise for $9,000 to J. Mays on account. Credit terms 2/10, n/30. Sales
invoice No. 101.

July 18

Borrowed $25,000 cash from United Bank signing a 6-month, 10% note.

July 20

Sold merchandise for $12,000 to C. Kane on account. Credit terms 2/10, n/30. Sales
invoice No. 102.

July 25

Issued a credit (reduction) of $600 to C. Kane as an allowance for damaged

merchandise previously sold on account.

July 31

Received a check from J. Mays for $5,000 as payment on account.

LOWRY
COMPANY
Sales Journal

S1
---Invoice
Acct. Rec. Dr.
C. of G. S. Dr.
Date
Account Debited
No.
Ref.
Sales Cr.
Mer. Inv. Cr.

---LOWRY
COMPANY
General Journal

G1

Date
Explanations
Ref.
Debit
Credit

PROBLEM 2B
Goren Company uses a single-column purchases journal, a cash payments journal, and
a general journal to record transactions with its suppliers and others. Record the following
transactions in the appropriate journals.

Transacti
ons

Oct.

Purchased merchandise on account for $20,000 from Hendry Company. Terms:

2/10, n/30; FOB shipping point.

Oct.

Paid $7,200 to Federated Insurance Company for a two-year fire insurance policy.

Oct.

Purchased store supplies on account for $700 from Flint Supply Company. Terms:
2/10, n/30.

Oct. 11

Purchased merchandise on account for $14,000 from Adler Corporation. Terms:

2/10, n/30; FOB shipping point.

Oct. 13

Granted a reduction of $3,000 to Adler Corporation for merchandise purchased on

October 11 and returned because of damage.

Oct. 15

Paid Hendry Company for merchandise purchased on October 5, less discount.

Oct. 16

Purchased merchandise for $8,000 cash from Clifford Company.

Oct. 21

Paid Adler Corporation for merchandise purchased on October 11, less merchandise
returned on October 13, less discount.

Oct. 25

Purchased merchandise on account for $22,000 from Eaton Company. Terms: 2/10,
n/30; FOB shipping point.

Oct. 31

Purchased office equipment for $30,000 cash from Pate Office Supply Company.