Nama : Cleyvains Fresly Wulandari

NIM : 17231014

Akuntansi 1 Tugas 1 Gasal 24-25 | M.2

Halaman 42 Set A
P1-1A Fredonia Repair Inc. was started on May 1. A summary of May transactions is presented
below.
1. Stockholders invested $10,000 cash in the business in exchange for common stock.
2. Purchased equipment for $5,000 cash.
3. Paid $400 cash for May offi ce rent.
4. Paid $300 cash for supplies.
5. Incurred $250 of advertising costs in the Beacon News on account.
6. Received $4,700 in cash from customers for repair service.
7. Declared and paid a $700 cash dividend.
8. Paid part-time employee salaries $1,000.
9. Paid utility bills $140.
10. Performed repair services worth $1,100 on account.
11. Collected cash of $120 for services billed in transaction (10).
Instructions
(a) Prepare a tabular analysis of the transactions using the following column headings:
Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock,
and Retained Earnings (with separate columns for Revenues, Expenses, and Divi
dends). Include margin explanations for any changes in Retained Earnings. Revenue is
called Service Revenue.
(b) From an analysis of the Retained Earnings columns, compute the net income or net loss
for May

Solution:
(a)
Assets = Liabilities + Stockholders’s Equity
Transaksi Accounts Accounts Commom Retained Earnings
Cash + + Supplies + Equipment = + +
Receivsble Payabel Stock Rev. - Exp. - Div.
1 $10,000 $10,000
2 -$5,000 $5,000
3 -$400 $400
4 -$300 $300
5 $250 $250
6 $4,700 $4,700
7 -$700 $700
8 -$1,000 $1,000
9 -$140 $140
10 $1,100 $1,100
11 $120 -$120
$7,280 + $980 + $300 + $5,000 = $250 + $10,000 + $5,800 - $1,790 - $700
$13,560 $13,560

(b)
FREDONIA REPAIR INC.
Income Statement
For the Month Ended May
 Revenues
Service Revenue (from cash) $4.700,00
Service Revenue (from acc. receivable) 1.100,00
Total Revenue 5.800,00
Expenses
Rent Expense $400,00
Salaries Expense 1.000,00
Utilities Expense 140,00
Advertising Expense 250,00
Total Expenses 1,790,00
Net income $4,010,00

P1-2A On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000,
Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600,
Common Stock $13,000, and Retained Earnings $700. During September, the following
transactions occurred.
1. Paid $2,900 cash for accounts payable due.
2. Collected $1,300 of accounts receivable.
3. Purchased additional equipment for $2,100, paying $800 in cash and the balance on
account.
4. Recognized revenue of $7,300, of which $2,500 is collected in cash and the balance is
due in October.
5. Declared and paid a $400 cash dividend.
6. Paid salaries $1,700, rent for September $900, and advertising expense $200.
7. Incurred utilities expense for month on account $170.
8. Received $10,000 from Capital Bank on a 6-month note payable

Instructions
(a) Prepare a tabular analysis of the September transactions beginning with August 31
balances. The column headings should be as follows: Cash + Accounts Receivable
+ Supplies + Equipment = Notes Payable + Accounts Payable + Common Stock +
Retained Earnings + Revenues − Expenses – Dividends.
(b) Prepare an income statement for September, a retained earnings statement for
September, and a balance sheet at September 30.
Solution:
(a)
Assets = Liabilities + Stockholders’s Equity
Transaksi Accounts Notes Accounts Commom Retained Retained Earnings
Cash + + Supplies + Equipment = + + + +
Receivsble Payable Payabel Stock Earnings Rev. - Exp. - Div.
Saldo
$9,000 $1,700 $600 $6,000 $3,600 $13,000 $700
awal
1 -$2,900 -$2,900
2 $1,300 -$1,300
3 -$800 $2,100 $1,300
$7,30
4 $2,500 $4,800
0
5 -$400 $400
6 -$1,700 $1.700
-$900 $900
-$200 $200
7 $170 $170
8 $10,000 $10,000
$7,30
$15,900 + $5,200 + $600 + $8,100 = $10,000 $2,170 + $13,000 $700 + - $2,970 - $400
0
$29,800 $29,800
 (b)

LA BRAVA VETERINARY CLINIC.

Income Statement
For September

Revenues
Service Revenue $7,300
Total Revenue 7,300
Expenses
Rent Expense $900
Salaries Expense 1,700
Utilities Expense 170
Advertising Expense 200
Total Expenses 2,970
Net income $4,330

LA BRAVA VETERINARY CLINIC.

Retained Earnings Statement
For September

Retained Earnings, September 1 $700

Add: Net Income $4,330
Less: Dividends Paid $400
Retained Earnings, September 30 $4,630

LA BRAVA VETERINARY CLINIC.

Balance Sheet
For September

Assets
Cash $15,900
Account Receivable 5,200
Supplies 600
Equipment 8,100
Total Assets $29,800
Liabilities and Stockholder’s Equity
Liabilities
Note Payable $2,170
Account Payable 10,000
Total Liabilities 12,170
Stockholder’s Equity
Common Stock $13,000
Retained Earnings 4,630
Total Equity 17,630
Total Liabilities and Stockholder’s Equity $29,800
P1-3A On May 1, Nimbus Flying School, a company that provides fl ying lessons, was started
by using common stock in exchange for cash of $45,000. Following are the assets and liabili
ties of the company on May 31, 2019, and the revenues and expenses for the month of May.
Cash $ 4,650 Notes Payable $28,000
Accounts Receivable 7,400 Rent Expense 900
Equipment 64,000 Maintenance and
Service Revenue 6,800 Repairs Expense 350
Advertising Expense 500 Gasoline Expense 2,500
Accounts Payable 1,400 Utilities Expense 400

No additional investments were made in May, but the company paid dividends of $500 during
the month.

Instructions
(a) Prepare an income statement and a retained earnings statement for the month of May
and a balance sheet at May 31.
(b) Prepare an income statement and a retained earnings statement for May assuming
the following data are not included above: (1) $900 worth of services were performed
and billed but not collected at May 31, and (2) $1,500 of gasoline expense was incurred
but not paid.
Solution:
(a)
NIMBUS FLYING SCHOOL.
Income Statement
For the Month Ended May 31, 2019

Revenues
Service Revenue $6,800
Total Revenue 6,800
Expenses
Rent Expense $900
Gasoline expense 2,500
Utilities Expense 400
Advertising Expense 500
Maintenance and Repairs Expense 350
Total Expenses 4,650
Net income $2,150

NIMBUS FLYING SCHOOL.

Retained Earnings Statement
For the Month Ended May 31, 2019

Retained Earnings, May 1 $0

Add: Net Income $2,150
Less: Dividends Paid $500
Retained Earnings, May 30 $1,650
 NIMBUS FLYING SCHOOL.
Balance Sheet
May 31, 2019

Assets
Cash $4,650
Account Receivable 7,400
Equipment 64,000
Total Assets $76,050
Liabilities and Stockholder’s Equity
Liabilities
Note Payable $28,000
Account Payable 1,400
Total Liabilities 29,400
Stockholder’s Equity
Common Stock $45,000
Retained Earnings 1,650
Total Equity 46,650
Total Liabilities and Stockholder’s Equity $76,050

(b)
NIMBUS FLYING SCHOOL.
Income Statement
For the Month Ended May 31, 2019

Revenues
Service Revenue $6,800
Additional Services Billied
but Not Collected 900
Total Revenue 7,700
Expenses
Rent Expense $900
Gasoline expense 4,000 Gasoline Expense: $2,500 +
$1,500(incurred but not paid) =
$4,000
Utilities Expense 400
Advertising Expense 500
Maintenance and Repairs Expense 350
Total Expenses 6,150
Net income $1,550

NIMBUS FLYING SCHOOL.

Retained Earnings Statement
For the Month Ended May 31, 2019

Retained Earnings, May 1 $0

Add: Net Income $1,550
Less: Dividends Paid $500
Retained Earnings, May 30 $1,050
 P1-4A Nancy Tercek started a delivery service, Tercek Deliveries, on June 1, 2019. The
following transactions occurred during the month of June.
June. 1 Stockholders invested $10,000 cash in the business in exchange for
common stock.
2 Purchased a used van for deliveries for $14,000. Nancy paid $2,000 cash
and signed a note payable for the remaining balance.
3 Paid $500 for offi ce rent for the month.
5 Performed $4,800 of services on account.
9 Declared and paid $300 in cash dividends.
12 Purchased supplies for $150 on account.
15 Received a cash payment of $1,250 for services performed on June 5.
17 Purchased gasoline for $100 on account.
20 Received $1,500 cash for services performed.
23 Made a cash payment of $500 on the note payable.
26 Paid $250 for utilities.
29 Paid for the gasoline purchased on account on June 17
30 Paid $1,000 for employee salaries

Instructions
(a) Show the effects of the previous transactions on the accounting equation using
the following format
(b) Prepare an income statement for the month of June.
(c) Prepare a balance sheet at June 30, 2019
Solution:
(a)
Assets = Liabilities + Stockholders’s Equity
Transaksi Accounts Notes Accounts Commom Retained Earnings
Cash + + Supplies + Equipment = + + +
Receivsble Payable Payabel Stock Rev. - Exp. - Div.
June 1 $10,000 $10,000
2 -$2,000 $14,000 $12,000
3 -$500 $500
5 $4,800 $4,800
9 -$300 $300
12 $150 $150
15 $1,250 -$1,250
17 $100 $100
20 $1.500 $1,500
23 -$500 -$500
26 -$250 $250
29 -$100 -$100
30 -$1,000 $1,000
$8,100 + $3,550 + $150 + $14,000 = $11,500 $150 + $10,000 + $6,300 - $1,850 - $300
$25.800 $25.800
 (b)
TERCEK DELIVERIES.
Income Statement
For the Month of June

Revenues
Service Revenue $6,300
Total Revenue 6,300
Expenses
Rent Expense $500
Gasoline expense 100
Utilities Expense 250
Advertising Expense 500
Salaries Expense 1,000
Total Expenses 1.850
Net income $4,450

(c)
TERCEK DELIVERIES.
Retained Earnings Statement
For the Month Ended June 30, 2019

Retained Earnings, June 1 $0

Add: Net Income $4,450
Less: Dividends Paid -$300
Retained Earnings, June 30 $4,150

P1-5A Financial statement information about four different companies is as follows.

Instructions
a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets −
Liabilities = Stockholders’ Equity = $27,000.)
b) Prepare the retained earnings statement for Leonardo Company. Assume beginning
retained earnings was $20,000.
c) Write a memorandum explaining the sequence for preparing financial state ments and
the interrelationship of the retained earnings statement to the income statement and
balance sheet

Solution:
a)

Donatello Leonardo Michelangelo Rapahel Company

Company Company Company
January 1,
2019
Assets $75.000 $110.000 $120.000 $150.000
Liabilities $48.000 $50.000 $75.000 $50.000
$45.000
Stockholder's $27.000 $60.000 $100.000
equity
December 31,
2019
Assets $95.000 $137.000 $200.000 $220.000
Liabilities $55.000 $75.000 $70.000 $80.000
$40.000 $140.000
Stockholder's $62.000 $130.000
equity
Stockholder's equity
changes in year
Additional $4.000 $15.000 $10.000 $15.000
investment
Dividends $6.000 $51.000 $14.000 $10.000
Total revenues $350.000 $420.000 $431.000 $500.000
Total $335.000 $382.000 $342.000 $465.000
expenses

Net income $15.000 $38.000 $89.000 $35.000

b)
LEONARDO COMPANY.
Retained Earnings Statement
For the Month Ended December 31, 2019

Retained Earnings, January 1 $20,000

Add: Net Income $38,000
Less: Dividends Paid $51,000
Retained Earnings, January 31 $7,000