2nd class assignment by anbi assistants. 1. ex 2-1 the following accounts appeared in recent...
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2nd Class Assignment
By ANBI assistants
1. EX 2-1The following accounts appeared in recent financial statements of Garuda Indonesia
Identify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or owner’s equity. For each income statement account, identify it as a revenue or an expense
Accounts Payable Flight Equipment
Aircraft Fuel Expense Landing Fees
Air Traffic Liability Passenger Revenue
Cargo and Mail Revenue Purchase Deposits for Flight Equipment
Commissions Spare Parts and Supplies
2. EX 2-4Lemon Jaya is a travel agency. The nine transactions recorded by Lemon during March 2008, its first month of operations, are indicated in the following T accounts
Cash(1) 30,000,000 (2) 1,800,000
(7) 10,000,000 (3) 9,000,000
(4) 3,050,000
(6) 7,500,000
(8) 2,500,000
Equipment(3) 24,000,000
Lemon Jaya, Drawing
(8) 2,500,000
Indicate for each debit and each credit : (a) whether an asset, liability, owner’s equity, drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased (-). Present your answer in the following form, with transaction (1) given as an example:
Accounts Receivable(5) 15,000,000 (7) 10,000,000
Accounts Payable(6) 7,500,000 (3) 15,000,000
Service Revenue
(5) 15,000,000
Supplies(2) 1,800,000 (9) 1,050,000
Lemon Jaya, Capital(1) 30,000,000
Operating Expenses
(4) 3,050,000
(9) 1,050,000
Account Debited Account Credited
Transaction Type Effect Type Effect
(1) asset + Owner’s equity
+
3. EX 2-5 EX 2-6
Based upon the T accounts in number 2 (Exercise 2-4)a. prepare the nine journal entries from which
the postings were made. Journal entry explanations may be omitted
b. prepare an unadjusted trial balance, listing the accounts in their proper order
4. EX 2-15The following selected transactions were completed during May of the current year :1. Billed customers for fees earned, Rp 12,190,0002. Purchased supplies on account, Rp 1,250,0003. Received cash from customers on account, Rp 9,150,0004. Paid creditors on account, Rp 750,000
a. Journalize the above transactions in a two-column journal, using the appropriate number to identify the transactions. Journal explanations may be omitted
b. Post the entries prepared in (a) to the following T accounts : cash, supplies, account receivable, accounts payable, fees earned. To the left of each amount posted in the accounts, place the appropriate number to identify the transactions.