PT. ANDALANNeraca (Balance Sheet)

December 31, 2003 (In IDR thousand)

AKTIVA (Assets)

AKTIVA LANCAR (Current assets)Kas (cash) 33.600Surat-surat berharga (Notes receivable) 10.000Piutang usaha (accounts receivable) 45.000Cadangan rugi piutang (allowance for bad debt) 3.000 42.000Sediaan (inventories) 36.000Asuransi bayar di muka (prepaid insurance) 300Aktiva lancar lain-lain (other current assets) 2.250Total aktiva lancar (total current assets) 124.150

INVESTASI JANGKA PANJANG (Long term investment)Deposito Jangka Panjang (Long term deposit) 20.000Investasi dalam saham (stock investment) 25.000 45.000

BANGUNAN DAN PERLENGKAPAN (Building and Equipment)Tanah (land) 40.000Bangunan (building) 100.000Akumulasi depresiasi (accumulated depr.) 25.000 75.000Kendaraan (vehicle) 60.000Akumulasi depresiasi (acc.depreciation) 7.500 52.500Perlengkapan kantor (office equipment) 15.000Accumulated depreciation 3.000 12.000 179.500

AKTIVA TAK BERWUJUD (intangible assets)Paten (patent) 5.000Merek dagang (trademark) 7.500 12.500

AKTIVA LAIN-LAIN (other assets)Jaminan kontrak (guaranteed contract) 5.750TOTAL AKTIVA (total assets) 366.900

PASIVA (LIABILITIES & OWNER’S EQUITY)

HUTANG LANCAR (current liabilities)Hutang usaha (account payable) 21.500Hutang wesel (notes payable) 6.000Hutang gaji (salaries payable) 4.650Hutang listrik dan air (utilities payable) 200 Hutang bunga (interest payable) 750Hutang pajak penghasilan (tax payable) 10.000Total hutang lancar (total current liabilities) 43.100

HUTANG JANGKA PANJANG (long term debt)Hutang obligasi (obligation) 12.500Hutang sewa beli (hire purchase debt) 8.000Credit investasi permanen (permanent investment credit) 4.500 25.000

MODAL PEMEGANG SAHAM (owner’s equity)Saham preferensi (preference stock) 120.000Saham biasa (common stock) 30.000Laba ditahan (retained earnings) 148.800 298.800Total modal (total equity)

TOTAL PASIVA 366.900

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PT.ANDALANLaporan Laba Rugi (Income Sheet)

For the year ended December 31, 2003 (in IDR thousand)

PENDAPATAN PENJUALAN (sales revenues)Penjualan (sales) 255.500

Potongan penjualan (sales discounts) 1.500Retur penjualan (sales returns & allowance) 2.000 3.500

Penjualan bersih (net sales) 252.000KOS BARANG TERJUAL (cost of goods sold)Sediaan awal (beginning inventory) 33.700Pembelian (purchases ) 152.300

Potongan pembelian 2.700(purchase discounts)Retur pembelian 1.000 3.700(purchase returns&allowance)

Pembelian bersih 148.600(net purchases)

Kos angkut pembelian (freight-in) 4.200 152.800Kos barang tersedia dijual 186.500(Cost of goods available for sale)Sediaan akhir (ending inventory) 36.000 150.500

Laba kotor penjualan (gross profit) 101.500BIAYA OPERASI (operating expenses)Biaya penjualan (selling expenses)

Iklan (advertising expenses) 2.300Gaji pegawai penjualan (salaries exp) 17.400Angkutan pengiriman barang 6.700

(freight-out)Depresiasi bangunan penjualan 2.500

(depreciation expense –Sales building)

Depresiasi kendaraan angkutan 1.500(depreciation expense –Sales vehicle)

Biaya penjualan lain-lain 8.450 38.850(other sales expenses)

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Biaya administrasi dan umum (administrative expenses)Gaji pegawai administrasi 8.240

(administrative salaries)Pemakaian bahan habis pakai 1.100

(administrative supplies)Listrik dan air 2.750

(utilities expenses)Depresiasi perlengkapan kantor 1.000

(depreciation, office equipment)Depresiasi bangunan kantor 2.500

(depreciation, office building)Asuransi (insurance) 210Biaya umum lain-lain 9.350 25.150 64.000

(other administrative expenses)Laba operasi (operating profit) 37.500

PENDAPATAN NON-OPERASI (other revenues and gains)Keuntungan penjualan aktiva tetap 400(Gain on the sale of fixed asset)Pendapatan dividen (dividend) 2.350Pendapatan bunga deposito (interest revenue) 1.800 4.550BIAYA NON OPERASI (other expenses and losses)Bunga (interest expenses) 2.050 2.500

Laba sebelum pajak (earning before tax) 40.000PAJAK PENGHASILAN (taxes)Taksiran pajak penghasilan (income tax estimation) 10.000

LABA BERSIH (net profit) 30.000

Table 3. Trial Balance:

PIONEER ADVERTISING AGENCYTRIAL BALANCE

OCTOBER 31, 1999Debit Credit

Kas (cash) $ 15.200Persediaan bahan habis pakai (advertising supplies) 2.500Asuransi bayar di muka (prepaid insurance) 600Peralatan kantor (office equipment) 5.000Surat hutang (notes payable) $ 5.000Hutang usaha (account payable) 2.500Pendapatan terima di muka (unearned revenue) 1.200CR Byrd, modal (capital) 10.000CR Byrd, penarikan modal (drawings) 500Pendapatan jasa (service revenue) 10.000Biaya gaji (salaries expense) 4.000Biaya sewa (rent expense) __ 900 _______ Total $ 28.700 $ 28.700

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Closing the Books diagram:

salaries Expense Service Revenue4000 5200 (2) 10600 (1) 100001200 4005200 5200 200

10600 10600 Supplies Income Summary1500 1500 (2) 7740 (2) 10600 (1)

2860 (3)10600 10600

Rent Expense900 900 (2)

CR Byrd, Capital500 (4) 10000

insurance Expense 2860(3)

50 50 (2) Bal.12360

interest Expense CR Byrd, Drawing50 50 (2)

500 500 (4)

Depreciation Expense40 40 (2)

Example of closing record transaction in journal for Pioneer Advertising Agency.General Journal J3

Date Account Title and Explanation Ref Debit Credit1999

Closing Entries(1)

Oct 31 Service Revenue 50 10600 Income Summary 49 10600 (to close service revenue acc)

(2)31 Income Summary 49 7740

Salary expense 60 5200 Supplies 61 1500 Rent expense 62 900 Insurance expense 63 50 Interest Expense 64 50 Depreciation Expense 65 40 (To close the expenses accounts)

(3)

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31 Income Summary 49 2860 CR Byrd, Capital 40 2860 (to remove balance in income summary account to capital account)

(4)31 Cr Byrd, Capital 40 500

Cr Byrd, Drawing 41 500 (To remove balance in drawing account to capital)

Case:

Anna Khan started a company in March 1, 2000. During March, the transactions happened were: Date Transactions1 Anna invested $10.000 in cash2 Purchased a used truck for $ 6000, $4000 paid in cash and the rest was on

account3 Purchased cleaner materials for $1200 on account5 Paid a one year insurance for $1800, being effective since March 114 Received service revenue $2800 from customers for cleaning services18 Paid the account payable on the used truck in transaction on March 2 for

$1,500, and paid the account payable for material purchased in March 3 for $500

20 Paid the employee salary for $150028 Received cleaning service revenue for $350031 Paid March gas and oil bill for $20031 Anna draw $900 for personal expenses

The chart of accounts for Anna’s Carpet is:101 Cash112 Account Receivable128 Cleaning Materials130 Prepaid insurance157 Equipment158 Accumulated Depreciation- equipment201 Account payable 212 Salary payable 301 Anna, Capital306 Anna, Drawings350 Income Summary400 Service Revenue633 Oil and gas expenses634 Cleaning material expense711 Depreciation expense722 Insurance expense726 Salary expense

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Instruction :a) Record all transactions during March in journal and general ledger. Use page

J1 for the journalb) Prepare the trial balance on March 31 in the worksheetc) Put these adjusting entries into the worksheet

1) Order which has been finished but has not been billed for $6002) Equipment depreciation for $2503) Insurance expense for 1 month 4) Inventory of cleaning material at the end of March is $4005) Salary of the employee that has not been paid is $500

d) Prepare income statement and balance sheete) Put the adjusting entries into the journal and general ledger. Use page J2 for

the journalf) Put the closing entries into journal and general ledger. Use page J3 for the

journal

Solution:

GENERAL JOURNAL J1date Account Titles and Explanation Ref Debit Credit2000Mar1 Cash 101 10.000

Anna, Capital 301 10.000 (owner’s investment )

1 Equipment 157 6.000 Cash 101 4.000 Account Payable 201 2.000 (purchase of used truck)

3 Cleaning Materials 128 1.200 Account Payable 201 1.200 (Purchase of cleaning material)

5 Prepaid insurance 130 1.800 Cash 101 1.800 (1-year insurance payment)

14 Cash 101 2.800 Service Revenue 400 2.800 (receive cash for service provided)

18 Account payable 201 1.500 Cash 101 1.500 (payment of A/P for truck)

18 Account payable 201 500 Cash 101 500 (payment of A/P for material)

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20 Salary expense 726 1.500 Cash 101 1.500 (to record the payment of salary)

21 Cash 101 3.500 Service Revenue 400 3.500 (receive cash for service provided)

31 Oil and gas expenses 633 200 Cash 101 200 (to record oil and gas bill)

31 Anna, drawings 306 900 Cash 101 900 (to record Anna’s drawings)

Posting

CASH No 101date Explanation Ref Debit Credit Balance2000Mar 1 Owner’s investment J1 10000 10000 1 Purchase of used truck J1 4000 6000 5 Payment of 1-year insurance J1 1800 4200 14 Receive cash for service provided J1 2800 7000 18 Payment of A/P for used truck J1 1500 5500

18 Payment of A/P for material J1 500 5000 20 Payment of salary J1 1500 3500 21 Receive cash for service provided J1 3500 7000 31 Payment of oil and gas bill J1 200 6800 31 Anna’s drawings J1 900 5900

CLEANING MATERIAL No 128Date Explanation Ref Debit Credit Balance2000Mar 3 Purchase of cleaning material J1 1200 1200

PREPAID INSURANCE No 130Date Explanation Ref Debit Credit Balance2000Mar 5 Insurance payment J1 1800 1800

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EQUIPMENT No 157Date Explanation Ref Debit Credit Balance2000Mar 1 Purchase of used truck J1 6000 6000

ACCOUNT PAYABLE No 201Date Explanation Ref Debit Credit Balance2000Mar 1 Purchase of used truck J1 2000 2000 3 Purchase of cleaning material J1 1200 3200 18 Payment of used truck J1 1500 1700

18 Payment of material J1 500 1200

ANNA, CAPITAL No 301Date Explanation Ref Debit Credit Balance2000Mar 1 Anna’s investment J1 10000 10000

ANNA, DRAWINGS No 306Date Explanation Ref Debit Credit Balance2000Mar31 Anna’s drawings J1 900 900

SERVICE REVENUE No 400Date Explanation Ref Debit Credit Balance2000Mar14 Receive service revenue from…. J1 2800 2800 21 Receive service revenue from…. J1 3500 6300

OIL AND GAS EXPENSE No 633Date Explanation Ref Debit Credit Balance2000Mar31 Payment of oil and gas bill J1 200 200

SALARY EXPENSE No 726Date Explanation Ref Debit Credit Balance2000Mar20 Payment of salary J1 1500 1500

Worksheet can be seen in the other page.

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ANNA’S CARPETINCOME STATEMENT

MARCH 2000

Revenue $ 6.900

Expense Oil and gas expense $ 200 Cleaning material expense 800 Depreciation expense 250 Insurance expense 150 Salary expense 2.000 3.400

Net Profit $ 3.500

ANNA’S CARPETBALANCE SHEET MARCH 31, 2000

ASSETS

Current Asset Cash $ 5.900 Account Receivable 600 Cleaning Material 400 Prepaid Insurance 1.650 $ 8.550

Fixed Asset Equipment $ 6.000 Less: accumulated depreciation- equipment 250 5.750

Total Asset $ 14.300

LIABILITIES AND OWNER’S EQUITY

Liabilities Account Payable $ 1.200 Salary payable 500 $ 1.700

Owner’s Equity Anna, Capital 12.600 Total Liabilities and owner’s equity $14.300

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ANNA’S CARPETOWNER’S EQUITY STATEMENT

MARCH 31, 2000

Anna, Capital, March 1, 2000 $ 0Plus : Investment 10.000 Net Profit 3.500

13.500

Less : Drawing 900Anna, Capital, March 31, 2000 $ 12.600

Jurnal Penyesuaian (Adjusting Entries)

GENERAL JOURNAL J2Date Account Title and & Explanation Ref Debit Credit2000

Adjusting Entries

Mar31 Account Receivable 112 600 Service Revenue 400 600 (to record unbilled finished order)

31 Depreciation expense- equipment 711 250 Accumulated depreciation- equipment 158 250 (to record depreciation expense)

31 Insurance Expense 722 150 Prepaid insurance 130 150 (to record insurance expense)

31 Cleaning material expense 634 800 Cleaning material 128 800 (to record cleaning material expense)

31 Salary expense 726 500 Salary payable 212 500 (to record unpaid salary expense)

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Posting Adjusting Entries

ACCOUNT RECEIVABLE No 112Date Explanation Ref Debit Credit Balance200031 Adjusting Entries J2 600 600

SERVICE REVENUE No 400Date Explanation Ref Debit Credit Balance2000Mar14 Receive service revenue from…. J1 2800 2800 21 Receive service revenue from…. J1 3500 6300 31 Adjusting Entries J2 600 6900

DEPRECIATION EXPENSE – EQUIPMENT

No 711

Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 250 250

ACCUMULATED DEPRECIATON – EQUIPMENT

No 158

Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 250 250

INSURANCE EXPENSE No 722Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 150 150

PREPAID INSURANCE No 130Date Explanation Ref Debit Credit Balance2000Mar 5 Insurance payment J1 1800 1800 31 Adjusting Entries J2 150 1650

CLEANING MATERIAL EXPENSE

No 634

Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 800 800

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CLEANING MATERIAL No 128Date Explanation Ref Debit Credit Balance2000Mar 3 Purchase of cleaning material J1 1200 1200 31 Adjusting Entries J2 800 400

SALARY EXPENSE No 726Date Explanation Ref Debit Credit Balance2000Mar20 Payment of salary J1 1500 1500 31 Adjusting Entries J2 500 2000

SALARY PAYABLE No 212Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 500 500

Closing Entries

GENERAL JOURNAL J3Date Account Titles & Explanation Ref Debit Credit2000

Closing Entries

Mar31 Service Revenue 400 6900 Income Summary 350 6900 (to close service revenue account)

31 Income Summary 350 3400 Depreciation Expense 711 250

Insurance Expense 722 150 Cleaning Material expense 634 800

Salary Expense 726 2000 Oil and gas expense 633 200 (to close expense accounts)

31 Income Summary 350 3500 Anna, Capital 301 3500 (to close income summary account)

31 Anna, Capital 301 900 Anna, Drawings 306 900 (to close drawing account)

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Posting Closing Entries

SERVICE REVENUE No 400Date Explanation Ref Debit Credit Balance2000Mar14 Receive service revenue from…. J1 2800 2800 21 Receive service revenue from…. J1 3500 6300 31 Adjusting Entries J2 600 6900 31 Closing Entries J3 6900 - 0 -

DEPRECIATION EXPENSE No 711Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 250 250 31 Closing Entries J3 250 - 0 -

INSURANCE EXPENSE No 722Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 150 150 31 Closing Entries J3 150 - 0 -

CLEANING MATERIAL EXPENSE

No 634

Date Explanation Ref Debit Credit Balance2000Mar31 Adjusting Entries J2 800 800 31 Closing Entries J3 800 - 0 -

SALARY EXPENSE No 726Date Explanation Ref Debit Credit Balance2000Mar20 Payment of Salary J1 1500 1500 31 Adjusting Entries J2 500 2000 31 Closing Entries J3 2000 - 0 -

OIL AND GAS EXPENSE No 633Date Explanation Ref Debit Credit Balance2000Mar31 Payment of oil and gas bill J1 200 200 31 Closing Entries J3 200 - 0 -

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INCOME SUMMARY No 350Date Explanation Ref Debit Credit Balance2000 31 Closing Entries J3 6900 6900 31 Closing Entries J3 3400 3500 31 Closing Entries J3 3500 - 0 -

ANNA, CAPITAL No 301Date Explanation Ref Debit Credit Balance2000Mar 1 Anna’s Investment J1 10000 10000 31 Closing Entries J3 3500 13500 31 Closing Entries J3 900 12600

ANNA, DRAWING No 306Date Explanation Ref Debit Credit Balance2000Mar31 Anna’s drawing J1 900 900 31 Closing Entries J3 900 - 0 -

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