BINUS BUSINESS SCHOOL

OFF-CAMPUS EXAM
DAY – DATE : Monday, January 27, 2020 at 13.00 WIB – Monday, February 3, 2020 at 13.00 WIB

SEMESTER: Odd Semester Periode 2, 2019/2020

EXAM TYPE: Off Campus Examination
PROGRAM: MM Blended Learning
CODE - COURSE NAME: ACCT8144 - Accounting for Managers
LECTURER: R. Mochammad Hadi Pratomo, SE, S.ST., MPP., Ph.D.
Toto Rusmanto, M.Comm., Ph.D.
Dr. Antonius Siahaan
CLASS: LOA9, LOB9 and LOC9 /Batch 19

TIME ALLOWED: Monday, January 27, 2020 at 13.00 WIB – Monday, February 3, 2020 at 13.00 WIB

OFF-CAMPUS EXAM REGULATIONS:

1. For BBS MM Young Professional Program and BBS MM Blended Learning Program students,
you are allowed to write in correct and proper Bahasa (except for the other programs, it should
be in correct and proper English).
2. Students are responsible for preparing all their needs for the exam, for example: Internet
connection, laptop, etc.
3. You MUST STAND BY 5 minutes before the exam starts by signing in the system.
4. Students must submit and upload their answers through the system within the exam time.
5. A student may complete and submit the answers of the exam into the portal before – but not after
– the exam time ends.
6. No additional exam time will be given for tardy students.
7. A student will be considered cheating if he or she is suspected of doing plagiarism as already
defined in the student guidelines. Plagiarism is committed through, but not limited to, the
following acts:
- Copying the work of another student
- Directly copying any part of another person’s work
- Summarizing the work of another person
- Using or developing an idea or thesis derived from another person’s work
- Using experimental results obtained by another person
- Incitement by a student of another to plagiarize
- Copy pasting from a book / textbook.
8. Any student who is caught doing the above action (s), will be listed by name and the Ethics
Committee will decide whether or not the action is considered as cheating.
9. Should the Ethics Committee consider and verify your actions as cheating, you will immediately
face expulsion from BINUS UNIVERSITY INTERNATIONAL/BINUS BUSINESS SCHOOL -
MASTER PROGRAM *).
10. If a student finds difficulty to upload the answers, they have to contact the staff within the exam
time with evidence to further process.

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Please answer all the questions below :

Question 1 (30%)
SKY COMPANY INC.
Worksheet
For the Year Ended December 31, 2019
Adjusted Trial Balance

No. Account Titles Dr. Cr.

101 Cash 3,100
112 Accounts Receivable 10,800
126 Supplies 1,500
130 Prepaid Insurance 2,000
151 Office Equipment 24,000
152 Accumulated Depreciation—Office Equipment 5,600
200 Notes Payable 15,000
201 Accounts Payable 1,100
212 Salaries Payable 2,400
230 Interest Payable 600
311 Common Stock 10,000
320 Retained Earnings 5,800
332 Dividends 7,000
400 Service Revenue 61,000
610 Advertising Expense 8,400
631 Supplies Expense 4,000
711 Depreciation Expense 5,600
722 Insurance Expense 3,500
726 Salaries Expense 31,000
905 Interest Expense 600
Totals 101,500 101,500

Instructions
(a) Complete the worksheet by extending the balances to the financial statement columns.
(b) Prepare an income statement, a retained earnings statement, and a classified balance sheet.
(Note: $10,000 of the notes payable become due in 2020.)
(c) Prepare the closing entries. Use J14 for the journal page.
(d) Post the closing entries. Use the three-column form of account. Income Summary is No. 350.
(e) Prepare a post-closing trial balance.

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Question 2 (25%)

Chopstick Inc is a retailer operating in the town. Chopstick uses the perpetual inventory method.
All ales return from the customer result in the goods being returned to inventory, the inventory is
not damage. Assume that there are no credit transactions; all amounts are settled in cash. You are
provided with the following information for Chopstick Inc. for the month of January 2019.

Date Description Quantity Unit cost or

selling price
January 1 Beginning inventory 50 $15
January 5 Purchase 100 14
January 8 Sale 90 25
January 10 Sales return 10 25
January 15 Purchase 35 18
January 16 Purchase return 10 18
January 20 Sale 90 25
January 25 Purchase 10 20

Required:
(a) For each the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending
inventory and (iii) gross profit.
(1) FIFO (2) LIFO (3) Moving Average cost

Question 3 (25%)

In the recent years, PT Agrees has purchased three delivery trucks. Because of frequent employee
turnover in the accounting department, a different accountant was in charge of selecting the depreciation
method of each delivery truck, and various methods have been used. Information concerning the delivery
trucks is summarized in the table below.

Delivery Acquired Cost Salvage Useful Life Depreciation

Truck Value (in years) Method
A July 1, 2012 $115,000 $ 10,000 10 Straight-line
B January 1, 2013 $ 95,000 $ 7,500 5 Double declining-
balance
C January 1, 2013 $ 106,000 $ 6,000 5 Units -of-activity

For the delivery truck C, the truck is expected to be driven 150,000 miles. Actual miles of use in the first
3 years were: 2013: 2,800, 2014: 3,200; 2015: 3,300.

Required:

1. Prepare journal entries for purchasing those delivery trucks in cash.

2. Compute the amount of depreciation expense of each delivery truck per December 31, 2013.
3. Prepare journal entries for (2).
4. Prepare the depreciation table for delivery truck A.

Page 3 of 4
 Year Book Value Depreciation Annual Accumulated Book Value
Beginning Rate Depreciation Depreciation Ending
Expense

Question 4 (20%)

On January 1, 2016 PT Sun had 50,000 shares, $5 par value per share, During the year, the following
transactions ocurred.

April 1 Issued 10,000 additional shares of common stock for $11 per share.
June 15 Declared a cash dividend of $1,50 per share to stockholders of record on June
30
July 10 Paid the $1.50 cash dividend.
December 1 Issued 5,000 additional shares of common stock for $12 per share,
December 15 Declared a cash dividend on outstanding shares of $1.75 per share to
stockholders of record on December 31

Required:
Record/journalize all transactions above.

---- Good luck ----

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