19 Contoh Soal dan Jawaban Ujian Akuntansi Keuangan Menengah 1 untuk Prodi S1 Akuntansi - by GolekWawasan
Bagi kalian mahasiswa jurusan Akuntansi maupun pelajar yang sedang mendapatkan mata pelajaran Akuntansi, pasti pernah mendapat tugas untuk membuat soal beserta jawaban mengenai Akuntansi Keuangan Menengah 1. Bagi mahasiswa jurusan Akuntansi sendiri pada umumnya bertemua mata kuliah ini pada semester 2 perkuliahan. Maka dari itu pada kesempatan kali ini GolekWawasan akan membagikan 19 soal ujian materi Akuntansi Keuangan Menengah Pertama beserta jawabannya. Semoga dengan membaca contoh soal ini beserta jawabannya pengetahuan kalian mengenai Akuntansi Keuangan Menengah Pertama bisa bertambah. 19 Soal ini juga bisa dijadikan bahan dalam membuat soal UTS maupun UAS mata kuliah Akuntansi Keuangan Menengah 1.
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| Ilustrasi Soal Ujian Akuntansi Keuangan Menengah |
Tugas Akuntansi Keuangan Menengah 1
Prodi : S1 Akuntansi 2019
1. Example of a transaction
a. Paid account payable $1000 to Senja Shop
b. Purchasement of supplies with cash
c. Transfer $50 from account payable to note payable
2. Do the following events represent business transactions? Explain your answer in each case.
a. Considered business transaction and recorded in the accounting records because resulting changes in assets and liabilities.
b. Considered business transaction and recorded in the accounting records because resulting changes in assets.
c. Not considered business transaction because it doesn’t resulting changes in assets, liabilities and equity, also it can’t expressed in terms of money.
d. Considered business transaction and recorded in the accounting records because resulting changes in assets and equity.
e. Not considered business transaction because it doesn’t resulting changes in assets, liabilities and equity, also it can’t expressed in terms of money.
3. Name the accounts debited and credited for each of the following transactions.
a. Accounts receivable ( Debit ) and service revenue ( Credit )
b. Cash ( Debit ) and accounts receivable ( Credit )
c. Supplies ( Debit ) and accounts payable ( Credit )
d. Delivery expense ( Debit ) and cash ( Credit )
4. Why are revenue and expense accounts called temporary or nominal accounts?
Because revenue and expense account in the end of period recorded in the income statement only for the charge of equity and it doesn’t recorded in the next period
5. Andrea Pafko, a fellow student, contends that the double-entry system means that each transaction must be recorded twice. Is Andrea correct? Explain.
Andrea is not correct. Double-entry system means that every transaction must be recorded in a minimum of two accounts. For the example is purchasement of equipment. So the accountant has to record the transaction with equipment expense on debit and cash on credit.
6. Is it necessary that a trial balance be prepared periodically? What purpose does it serve?
I think it’s not necessary but customary and desirable, depend of the company needs. The purpose of trial balance are to proves the mathematical equality of debits and credits after posting and to uncover errors in journalizing and posting, also it’s useful in the preparation of financial statement.
7. Indicate whether each of the items below is a real or nominal account and whether it appears in the statement of financial position or the income statement.
a. Real account, statement of financial position
b. Real account, statement of financial position
c. Inventory is considered a real account appearing on the statement of financial statement, but it also considered a nominal account when the periodic system is used.
d. Real account, statement of financial position
e. Real account, statement of financial position
f. Nominal account, income statement
g. Nominal account, income statement
h. Real account, statement of financial position
8. Employees are paid every Saturday for the preceding work week. If a statement of financial position is prepared on Wednesday, December 31, what does the amount of salaries and wages earned by employees the first three days of the week (12/29, 12/30, 12/31) represent? Explain.
The salaries and wages for employees will be recorded as liability, and the related expenses have to be recorded too.
9. (a) How do the components of revenues and expenses differ between a merchandising company and a service enterprise?
In a merchandising company, revenues are sales revenues and expenses are cost of goods sold plus operating expenses. In a service company, revenues are service revenues and expenses are operating expenses
(b) Explain the income measurement process of a merchandising company.
he measurement process in the merchandising company consist the sales price of the merchandise inventory to the cost of goods sold and operating expenses.
10. What differences are there between the trial balance before closing and the trial balance after closing with respect to the following accounts?
a. There is no changes between the trial balance before and after closing.
b. The account exist on the trial balance before closing and doesn’t exist on the trial balance after closing.
c. The account exist on the trial balance before closing and doesn’t exist on the trial balance after closing.
d. The account exist on the trial balance before closing and also exist on the trial balance after closing.
e. There is no changes between the trial balance before and after closing.
11. What are adjusting entries, and why are they necessary?
Adjusting entries is entries made at the end of the period to ensure that company follow the principles. Adjusting entries are necessary to update the data and achieve an accurate presentation of assets, liabilities, and equities
12. What are closing entries, and why are they necessary?
Closing entries is entries made at the end of an accounting period to transfer the balances of temporary accounts ( net income and dividends ) to a permanent equity accounts ( Retained Earnings). It necessary to reduce the balance of nominal ( temporary ) accounts to zero in preparationfor the next period’s transaction.
13. Compute the amount of depreciation expense (related to the mower and accessories) that should be reported on Lisbon's December 31, 2019, income statement. Assume straight-line depreciation.
Depreciation Expense 1 Year = Dep. Cost ÷ Useful Life
= $4000 ÷ 5 years = $800 per year
Depreciation cost until December 31, 2019
= $800 x 6 months = $400
14. What entry would Hibernia Bank make regarding its outstanding loan to Chen Enterprises? Explain why this must be the case.
Interest Receivable 10.000
Interest Revenue 10.000
(To record accrued interest revenue on loan)
Because accrued expenses result from the same causes as accrued revenues.
15. Distinguish between cash-basis accounting and accrual-basis accounting. Why is accrual-basis accounting acceptable for most business enterprises and the cash-basis unacceptable in the preparation of an income statement and a statement of financial position?
In cash-basis, company only record revenue and expense only when they receive cash or disperse cash. In accrual-basis, company recognize revenue when performance obligation is satisfied, and recognize expenses in the period incurred. The accrual-basis is more relevant because it can recognize all aspect of credit phenomena like account receivable which there is no cash transaction
16. When salaries and wages expense for the year on an accrual basis is computed, why are beginning accrued salaries and wages subtracted from, and ending accrued salaries and wages added to, salaries and wages paid during the year?
Salaries and wages expense for the year on accrual basis is computed after the services have been performed but not yet paid them. The beginning accrued salaries and wages subtracted from the reverse entry of accrued salaries and wages account from the prior year, meanwhile the ending accrued salaries and wages added to accrued salaries and wages account for the current year.
17. Explain the distinction between accounting using strict cash-basis accounting and a modified cash basis.
On the strict cash-basis accounting, company only record transaction when they disperse cash. Meanwhile, the modified one borrows both cash and accrual accounting depending on the nature of the assets (recording sales and expenses for long-term assets on a cash basis, and those short-term assets on a cash basis)
18. What are reversing entries, and why are they used?
Reversing entries is an entry, made at the beginning of the next accounting period, that is the exact opposite of the adjusting entry made in the previous period. The company use reversing entries to simplify the recording of a subsequent transaction related to an adjusting entries.
19. “A worksheet is a permanent accounting record, and its use is required in the accounting cycle.” Do you agree? Explain.
I disagree. Worksheet is not a permanent accounting record. It’s not required in the accounting cycle. Worksheet is optional and used to accumulate information needed in making financial statement
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