CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

General Journal 2015

Page: 31
Date Entries (omit description) Ref Debit Credit
Sep 0
0
0
0
0
0
0 0

0 0
0
0
0
0
0
0
0
0
0
0
0
Oct 0 0
0
0
0
0

0
0
0
0
0
0
0
0
0

0
0

Names/student's number of group members:

1. Name 1/28347383 4. Name 4
2. Name 2 5. etc.
3. Name 3 6. etc.
CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

General Journal 2015

Page: 32
Date Entries (omit description) Ref Debit Credit
Oct 0
0
Nov 0 0
0
0
0
0
0
0
0
0
0
0 0

0 Salaries and Fees Expense 0

0
Dec 0
0
0
0
0
0
0
0
0
0
Bank Loan 0
Cash 0
0
0
0
0
0
0
0
0
0
0
0
0
CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

General Journal 2015

Page: 33
Date Entries (omit description) Ref Debit Credit
Dec 31 Adjusting Entries
a 0
0
b 0
0
c 0
0
d 0
0
e 0
0
f 0
0
g 0
0
h 0
0
i 0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

General Journal 2015

Page: 34
Date Entries (omit description) Ref Debit Credit
Dec 31 Closing Entries
a

b
0
0
0
0
0
0
0
0
0
0

c
0

d
0
CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

General Journal 2016

Page: 01
Date Entries (omit description) Ref Debit Credit
Jan 1 Reversing Entries
a
0

b 0
0
0
c 0
0
0
d 0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
 0
0

The Order of Submitted Answers to the Practice Set

Print page
1 Cover (design your own)
2 General Journal 1-5
3 General Ledger 10-18 Change the title and date
4 Unadjusted Trial Balance December 31, 2015 19
( Print before posting adjusting entries)
5 Adjusted Trial Balance, December 31, 2015 19 Change the title and date
( Print after posting adjusting entries)
6 Post-closing Trial Balance, 31 December, 2015 20
7 Income Statement and Statement of Changes
in Retained Earnings 28
8 Balance Sheet (Statement of Financial Position) 29

Don't forget to enter the names of group members!

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

GENERAL LEDGER
Account: Cash Acc. No.: 101
Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 22,200,000 Dr ###
0 0 0
0 0 0
0 0 0
0 0
0 0
0 0
0 0 0
0 0
Oct 0 0 0 0
0 0
0 0 0
0 0
0 0
0 0
0 0 0
0 0 0
0 0
Nov 0 0 0
0 0
0 0
0 0
0 0
0 0
Des 0 0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0
0 0

Members of group:
1. Name 1/28347383
2. Name 2
3. Name 3
4. Name 4
5. etc.
6. etc.
CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Accounts Receivable Acc. No.: 102

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 37,500,000 Dr ###
0 0
0 0
0 0
Oct 0 0
0 0
Nov 0 0
Dec 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0

Account: Allowance for Bad Debts Acc. No.: 103

Date Explanation F Debit Credit Balance D/C
Sep 1 Balance 450,000 Cr ###
Nov 0 0 0
Dec 31 0 0
Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0
0 0

Account: Inventory of Supplies Acc. No.: 104

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 62,250,000 Dr ###
0 0
0 0
Nov 0 0
Dec 0 0
Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Prepaid Rent Acc. No.: 105

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 72,000,000 Dr ###
Dec 31 0 0
Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0
0 0

Account: Prepaid Insurance Acc. No.: 106

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
2 Reversing entry 1 0 0 0
0 0
0 0
0 0

Account: Studio Equipment Acc. No.: 201

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 50,000,000 Dr ###
0 0
Dec 31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0
0 0

Account: Accumulated Depreciation: Studio Equipment Acc. No.: 202

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 17,250,000 Cr ###
Dec 31 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0
 0 0

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Office Equipment Acc. No.: 203

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 15,000,000 Dr ###
0 0
Dec 31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0

Account: Accumulated Depreciation: Office Equipment Acc. No.: 204

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 3,750,000 Cr ###
0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0

Account: Accounts Payable Acc. No.: 305

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 21,500,000 Cr ###
0 0
0 0 0
Oct 0 0 0
0 0 0
Nov 0 0 0
0 0 0
0 0
Dec 0 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0

Account: Accrued Interest Payable Acc. No.: 306

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
2 Reversing entry 0 0 0
0 0

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Accrued Salaries and Fees Payable Acc. No.: 307

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
2 Reversing entry 0 0 0
0 0
0 0
0 0

Account: Estimated Income Tax Payable Acc. No.: 308

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
2 Reversing entry 0 0 0
0 0
0 0
0 0

Account: Bank Loan Acc. No.: 309

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 45,000,000 Cr ###
Dec 0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0
0 0

Account: Share Capital Acc. No.: 401

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 50,000,000 Cr ###
31 Carried forward to next year 50,000,000 0 0
2016 0 0
Jan 1 Balance 50,000,000 Cr
0 0
0 0
0 0
0 0

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Retained Earnings Acc. No.: 402

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 39,130,000 Cr ###
Dec 0 0
0 0
31 Carried forward to next year 0 0 0
2016 0 0
Jan 1 Balance 0 0
0 0
0 0

Account: Dividends Acc. No.: 403

Date Explanation Ref Debit Credit Balance D/C
Oct 0 0 0 0
Dec 31 0 0
2016 0 0
0 0
0 0
0 0
0 0

Account: Advertising Revenue Acc. No.: 501

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 144,140,000 Cr ###
0 0 0
0 0 0
Oct 0 0 0
0 0
0 0 0
Dec 0 0 0
0 0 0
0 0
2016 0 0
0 0
0 0
Account: Commission Revenue Acc. No.: 502
Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 14,700,000 Cr ###
Oct 0 0 0
Dec 0 0
2016 0 0
0 0
0 0

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Salaries and Fees Expense Acc. No.: 601

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 54,300,000 Dr ###
0 0 0
Oct 0 0 0
0 0
Nov 0 0
0 0
Dec 0 0
0 0
0 0
2016 0 0
Jan 2 Reversing entry 1 0 0 0
0 0
0 0

Account: Communication Expense Acc. No.: 602

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 6,400,000 Dr ###
0 0 0
Oct 0 0
Dec 0 0
0 0
2016 0 0
0 0

Account: Supplies Expense Acc. No.: 603

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 0 0
2016 0
0
0
0
0
Account: Depreciation Expense: Studio Equipment Acc. No.: 604
Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 0 0
2016 0
0
0
0

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Depreciation Expense: Office Equipment Acc. No.: 605

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 0 0
2016 0
0
0
0
0

Account: Rent Expense Acc. No.: 606

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 0 0
2016 0
0
0
0
0

Account: Insurance Expense Acc. No.: 607

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 1,440,000 Dr ###
0 0 0
Dec 31 0 0
31 0 0
2016 0 0
Jan 2 Reversing entry 1 0 0 0
0 0
0 0

Account: Miscellaneous Expense Acc. No.: 609

 Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 11,680,000 Dr ###
Oct 0 0 0
Dec 0 0
0 0
2016 0 0
0 0
0 0
0 0

CHAMPION ADVERTISING AGENCY SWD2015-FEB-UGM

Account: Interest Expense Acc. No.: 701

Date Explanation Ref Debit Credit Balance D/C
Sep 1 Balance 3,150,000 Dr ###
Dec 31 0 0
31 0 0
2016 0 0
Jan 2 Reversing entry 1 0 0 0
0 0
0 0
0 0

Account: Estimated Income Tax Acc. No.: 901

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
31 0 0
2016 0
Jan ###
2 Reversing entry 1 0 0 0
0
0
0
0

Account: Income Summary Acc. No.: 999

Date Explanation Ref Debit Credit Balance D/C
Dec 31 0 0 0
0 0
0 0
2016 0
0
0
0
 0

Members of group:
1. Name 1/28347383
2. Name 2
3. Name 3
4. Name 4
5. etc.
6. etc.
0 0
 CHAMPION ADVERTISING AGENCY
Trial Balance
September 1, 2015
No. Account Debit Credit
101 Cash 22,200,000
102 Accounts Receivable 37,500,000
103 Allowance for Bad Debts 0 450,000
104 Inventory of Supplies 62,250,000
105 Prepaid Rent 72,000,000
106 Prepaid Insurance 0
201 Studio Equipment 50,000,000
202 Accumulated Depreciation: Studio Equipment 17,250,000
203 Office Equipment 15,000,000
204 Accumulated Depreciation: Office Equipment 3,750,000
305 Accounts Payable 21,500,000
306 Accrued Interest Payable 0
307 Accrued Salaries and Fees Payable 0
308 Estimated Income Tax Payable 0
309 Bank Loan 45,000,000
401 Share Capital 50,000,000
402 Retained Earnings 39,130,000
403 Dividends 0
501 Advertising Revenue 144,140,000
502 Commission Revenue 14,700,000
601 Salaries and Fees Expense 54,300,000
602 Communication Expense 6,400,000
603 Supplies Expense 0
604 Depreciation Expense: Studio Equipment 0
605 Depreciation Expense: Office Equipment 0
606 Rent Expense 0
607 Insurance Expense 1,440,000
609 Miscellaneous Expense 11,680,000
701 Interest Expense 3,150,000
901 Estimated Income Tax 0
335,920,000 335,920,000

SWD2015-FEB-UGM
 CHAMPION ADVERTISING AGENCY
Post-Closing Trial Balance
December 31, 2015
No. Account Debit Credit
101 Cash 22,200,000
102 Accounts Receivable 37,500,000
103 Allowance for Bad Debts 450,000
104 Inventory of Supplies 62,250,000
105 Prepaid Rent 72,000,000
106 Prepaid Insurance 0
201 Studio Equipment 50,000,000
202 Accumulated Depreciation: Studio Equipment 17,250,000
203 Office Equipment 15,000,000
204 Accumulated Depreciation: Office Equipment 3,750,000
305 Accounts Payable 21,500,000
306 Accrued Interest Payable 0
307 Accrued Salaries and Fees Payable 0
308 Estimated Income Tax Payable 0
309 Bank Loan 45,000,000
401 Share Capital 50,000,000
402 Retained Earnings 121,000,000
258,950,000 258,950,000

Key answers:
Unadjusted total DEBIT/CREDIT balance 422,695,000
Adjusted total DEBIT/CREDIT balance 442,155,000
Post-closing total DEBIT/CREDIT balance 213,865,000
Net income 36,000,000
Retained earnings, December 31 67,630,000
Total Assets 188,315,000

SWD2015-FEB-UGM
 CHAMPION ADVERTISING AGENCY
Trial Balance
September 1, 2015
No. Account Debit Credit
101 Cash 22,200,000
102 Accounts Receivable 37,500,000
103 Allowance for Bad Debts 450,000
104 Inventory of Supplies 62,250,000
105 Prepaid Rent 72,000,000
106 Prepaid Insurance
201 Studio Equipment 50,000,000
202 Accumulated Depreciation: Studio Equipment 17,250,000
203 Office Equipment 15,000,000
204 Accumulated Depreciation: Office Equipment 3,750,000
305 Accounts Payable 21,500,000
306 Accrued Interest Payable
307 Accrued Salaries and Fees Payable
308 Estimated Income Tax Payable
309 Bank Loan 45,000,000
401 Share Capital 50,000,000
402 Retained Earnings 39,130,000
403 Dividends
501 Advertising Revenue 144,140,000
502 Commission Revenue 14,700,000
601 Salaries and Fees Expense 54,300,000
602 Communication Expense 6,400,000
603 Supplies Expense
604 Depreciation Expense: Studio Equipment
605 Depreciation Expense: Office Equipment
606 Rent Expense
607 Insurance Expense 1,440,000
609 Miscellaneous Expense 11,680,000
701 Interest Expense 3,150,000
901 Estimated Income Tax
335,920,000 335,920,000
 CHAMPION ADVERTISING AGENCY
Income Statement
for the year ended December 31, 2015

Operating revenues:
Advertising Revenue Rp 144,140,000
Commission Revenue 14,700,000
Rp 158,840,000
Operating expenses:
Salaries and Fees Rp 54,300,000
Communication 6,400,000
Supplies Expense 0
Depreciation Expense: Studio Equipment 0
Depreciation Expense: Office Equipment 0
Rent 0
Insurance 1,440,000
Miscellaneous 11,680,000 73,820,000
Operating incomes (loss) Rp 85,020,000
Nonoperating revenues (expenses):
Interest Expense 3,150,000
Income before tax Rp 81,870,000
Estimated Income Tax 0
Net income (loss) Rp 81,870,000

CHAMPION ADVERTISING AGENCY

Statement of Changes in Retained Earnings
for the year ended December 31, 2015

Retained Earnings, January 1 Rp 39,130,000

Income (loss) for the year 81,870,000
Rp 121,000,000
Dividends 0
Retained Earnings, December 31 Rp 121,000,000

Enter again names of group member here (name only):

1. Name 1
2. etc.
3.
4.
5.

SWD2015-FEB-UGM
 CHAMPION ADVERTISING AGENCY
Balance Sheet, December 31, 2015

ASSETS
Current assets:
Cash Rp 22,200,000
Accounts Receivable Rp 37,500,000
Allowance for Bad Debts 450,000 37,050,000
Inventory of Supplies 62,250,000
Prepaid Rent 72,000,000
Prepaid Insurance 0
Total current assets Rp 193,500,000

Fixed assets:
Studio Equipment Rp 50,000,000
Accumulated Depreciation 17,250,000 32,750,000
Office Equipment Rp 15,000,000
Accumulated Depreciation 3,750,000 11,250,000
Total fixed assets Rp 44,000,000
Total assets Rp 237,500,000

LIABILITIES AND EQUITY

Current liabilities:
Accounts Payable Rp 21,500,000
Accrued Interest Payable 0
Accrued Salaries and Fees Payable 0
Estimated Income Tax Payable 0
Total current liabilities Rp 21,500,000

Long-term liabilities:
Bank Loan 45,000,000

Shareholders' equity
Share Capital Rp 50,000,000
Retained Earnings 121,000,000
Total shareholders' equity Rp 171,000,000
Total liabilities and equity Rp 237,500,000

Members of group:
1. Name 1/28347383
2. Name 2
3. Name 3
4. Name 4
5. etc.
6. etc. SWD2015-FEB-UGM