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Journal Entries and Liabilities Overview

The document contains journal entries and adjusting entries for various transactions, including cash sales, service revenue, and interest expenses. It also outlines current liabilities, including notes payable and interest payable, along with a partial balance sheet. The total interest expense for the year is calculated to be 2,110.

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deyonmomongan06
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320 views6 pages

Journal Entries and Liabilities Overview

The document contains journal entries and adjusting entries for various transactions, including cash sales, service revenue, and interest expenses. It also outlines current liabilities, including notes payable and interest payable, along with a partial balance sheet. The total interest expense for the year is calculated to be 2,110.

Uploaded by

deyonmomongan06
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Nama: Deyon Momongan

NIM: 240611040223

Soal!
Jawaban:
a. Journal Entries

Date Account Titles & Explanation Reff Debit Credit

Jan 5 Cash 20.520


Sales Revenue (20.520/1.08) 19.000
Sales Taxes Payable (19.000 x 8%) 1.520

Jan 12 Unearned Service Revenue 10.000


Service Revenue 10.000

Jan 14 Sales Taxes Payable 7.700


Cash 7.700

Jan 20 Account Receivable 48.600


Sales Revenue (900 x 50) 45.000
Sales Taxes Payable (45.000 x 8%) 3.600

Jan 21 Cash 27.000


Notes Payable 27.000

Jan 25 Cash 12.400


Sales Revenue (12.420/1.06) 11.500
Sales Taxes Payable (11.500 x 8%) 920

b. Adjusting Entries
Date Account Titles & Explanation Reff Debit Credit

Jan 31 Interest Expense (27.000 x 8% x 1/12 x 1/3) 60


Interest Payable 60

Jan 31 Warrantly Expense (45.000 x 7%) 3.150


Warrantly Liability 3.150
Account Titles & Explanation Amount
Current Liabilites

Notes Payable 27.000


Accounts Payable 2.000
Unearned Service Revenue (16.000 – 10.000) 6.000
Warrantly Liability 3.150
Sales Taxes Payable (1.520 + 3.600 + 920) 6.040
Interest Payable 60
Total Current Liabilities 94.250
c. Partial Balance Sheet
Soal 2!
Jawaban:
a. Journal Entries
Date Account Titles & Explanation Reff Debit Credit
Jan 2 Merchandise Inventory or Purchase 30.000
Account Payable 30.000
Feb 1 Account Payable 30.000
Notes Payable 30.000
Mar 31 Interest Expense (30.000 x 9% x 2/12) 450
Interest Payable 450
Apr 1 Notes Payable 30.000
Interest Payable 450
Cash 30.450
July 1 Equipment 71.000
Cash 11.000
Notes Payable 60.000
Sept 30 Interest Expense (60.000 x 10% x 3/12) 1.500
Interest Payable 1.500
Oct 1 Notes Payable 60.000
Interest Payable 1.500
Cash 61.500
Dec 1 Cash 24.000
Notes Payable 24.000
Dec 31 Interest Expense (24.000 x 8% x 1/12) 160
Interest Payable 160

b.
4/1 30.000 2/1 30.000
10/1 60.000 6/1 60.000
12/1 24.000
12/31 Balance 24.000

Notes Payable

4/1 450 3/31 450


10/1 1.500 9/30 1.500
12/1 160
12/31 Balance 160
Interest Payable

3/31 450
9/30 1.500
12/31 160
12/31 Balance 2.110
Interest Expense
c.
Accounts Titles & Explanation Amount Amount

Current Liabilities

Notes Payable 24.000

Interest Payable 160

Total Current Liabilites 24.160

d. Total Interest expense for the year = 2.110

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