Completing Acc Cycle

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Completing Acc Cycle Powered By Docstoc
					                             Chapter 4
                      Completing the
                     Accounting Cycle
                                   Accounting, 21st Edition
                                     Warren Reeve Fess


                                                       © Copyright 2004 South-Western, a division
PowerPoint Presentation by Douglas Cloud                 of Thomson Learning. All rights reserved.
Professor Emeritus of Accounting
Pepperdine University                                   Task Force Image Gallery clip art included in this
                                                        electronic presentation is used with the permission of
                                                        NVTech Inc.
            7 Langkah dasar
            Siklus Akuntansi
1. Transaksi dianalisis dan dicatat dlm jurnal
2. Transaksi diposting ke Ledger
3. Menyusun Trial Balance, Jurnal Penyesuaian dan
   melengkapi Worksheet (optional)
4. Memposting Jurnal Penyesuaian ke Ledger
5. Menyusun Laporan Keuangan
6. Membuat Jurnal Penutup/clossing dan diposting
7. Menyusun Post-Clossing Trial Balance
Asset biasanya dibagi dalam 2 Jenis yaitu:
 Current Assets/Aktiva Lancar dan Fixed
           Assets/Aktiva Tetap
That’s correct. Cash and other
 assets that are expected to be
 converted into cash, sold, or
used up usually in less than a
    year are current assets.
                Well… besides cash, there’s
                 notes receivable, accounts
For example?   receivable, supplies, and other
                       prepaid items.
   There are some exceptions, but
that’s basically correct. Assets such
                        So, assets that have a life
   as office equipment, machinery,
                              year are
                       over a appear listed under
  buildings, and land would
                           property, plant, and
          under that heading.
                               equipment.
Hutang yang jatuh tempo kurang
     dari 1 tahun disebut
      current liabilities.


            Accounts payable
            Wages payable
            Interest payable
            Unearned fees
   Hutang yang Jatuh
 Temponya Lebih dari 1
tahun disebut long-term
       liabilities.

                          Mortgage note
                           payable
                          Mortgage payable
                          Bond payable
    Untuk mempermudah
 penyusunan Undjusted Trial
Balance menjadi suatu Laporan
Keuangan bisa dibantu dengan
       WORK SHEET
                The Work Sheet


           Trial Balance   Adjustments   Adjusted TB
Accounts   Dr       Cr     Dr      Cr    Dr      Cr




       Berdasarkan data dari Ledger, dan
       disusun sesuai urutan: assets,
       liabilities, owner’s equity, revenues,
       and expenses.
                  The Work Sheet


             Trial Balance   Adjustments   Adjusted TB
Accounts     Dr       Cr     Dr      Cr    Dr      Cr




           Diisi berdasarkan jurnal Penyesuaian
           Ada 2 kemungkinan:
           1. Deferrals – mengurangi saldo
           sebelumnya
           2. Accruals – Timbul informasi baru
                The Work Sheet


           Trial Balance   Adjustments   Adjusted TB
Accounts   Dr       Cr     Dr      Cr    Dr      Cr




           Adjustments are combined with
           the trial balance. Account
           balances are now adjusted.
                The Work Sheet


           Income State.   Balance Sheet
Accounts   Dr       Cr     Dr       Cr




Saldo Revenue dan Expense
dipindahkan ke kolom Income
Statement
                  The Work Sheet


             Income State.   Balance Sheet
Accounts     Dr      Cr       Dr       Cr




           Saldo Asset, liability, owner’s
           equity, and drawing dipindahkan
           ke Balance Sheet column.
                                        NetSolutions
                                        Work Sheet
                         For the Two Months Ended December 31, 2005
                                                                         Adjusted
                               Trial Balance      Adjustments          Trial Balance
       Account Title          Debit    Credit    Debit    Credit      Debit     Credit
 1   Cash                      2,065
 2   Accounts Receivable       2,220
 3   Supplies                  2,000
 4   Prepaid Insurance         2,400
 5   Land                     20,000
 6   Office Equipment          1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360     The Unadjusted
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing      4,000                Trial Balance
11   Fees Earned                        16,340
12   Wages Expense             4,275
13   Rent Expense              1,600
14   Utilities Expense           985
15   Supplies Expense            800
16   Miscellaneous Expense       455
17                            42,600    42,600
18
19
20
21
22
Adjusting Entries

    Adjusting entries adl Jurnal
     yang dibuat pada akhir
        periode akuntansi
Adjusting Entries
        Apabila Worksheet telah
   disiapkan maka data dalam jurnal
    penyesuaian dipindahkan pada
         Adjustments columns.
(a) The Supplies account has a debit of
   $2,000. A count of supplies at the end of
   the period reveals that $760 is on hand.
   Therefore, $1,240 in supplies was used
   during the two-month period.
                                        NetSolutions
                                        Work Sheet
                         For the Two Months Ended December 31, 2005
                                                                            Adjusted
                               Trial Balance        Adjustments           Trial Balance
       Account Title          Debit    Credit     Debit      Credit      Debit     Credit
 1   Cash                      2,065
 2   Accounts Receivable       2,220
 3   Supplies                  2,000                         (a) 1,240
 4   Prepaid Insurance         2,400
 5   Land                     20,000
 6   Office Equipment          1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing      4,000
11   Fees Earned                        16,340
12   Wages Expense             4,275
13   Rent Expense              1,600
14   Utilities Expense           985
15   Supplies Expense            800             (a) 1,240
16   Miscellaneous Expense       455
17                            42,600    42,600
18
19
20
21
22
(b) The Prepaid Insurance account has a
    debit balance of $2,400, which
    represents prepayment of insurance for
    24 months beginning December 1.
    Thus, the insurance expense for this
    month is $100 ($2,400 ÷ 24).
                                        NetSolutions
                                        Work Sheet
                         For the Two Months Ended December 31, 2005
                                                                            Adjusted
                               Trial Balance        Adjustments           Trial Balance
       Account Title          Debit    Credit     Debit      Credit      Debit     Credit
 1   Cash                      2,065
 2   Accounts Receivable       2,220
 3   Supplies                  2,000                         (a) 1,240
 4   Prepaid Insurance         2,400                         (b) 100
 5   Land                     20,000
 6   Office Equipment          1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing      4,000
11   Fees Earned                        16,340
12   Wages Expense             4,275
13   Rent Expense              1,600
14   Utilities Expense           985
15   Supplies Expense            800             (a) 1,240
16   Miscellaneous Expense       455
17                            42,600    42,600
18   Insurance Expense                           (b) 100
19
20
21
22
       Accounts are added as needed.
(c) The Unearned Rent account has a credit
    balance of $360, which represents the
    receipt of three-months’ rent beginning
    with December 1. Thus, the rent revenue
    for December is $120.




                 FOR
                 RENT
                                        NetSolutions
                                        Work Sheet
                         For the Two Months Ended December 31, 2005
                                                                            Adjusted
                               Trial Balance        Adjustments           Trial Balance
       Account Title          Debit    Credit     Debit      Credit      Debit     Credit
 1   Cash                      2,065
 2   Accounts Receivable       2,220
 3   Supplies                  2,000                         (a) 1,240
 4   Prepaid Insurance         2,400                         (b) 100
 5   Land                     20,000
 6   Office Equipment          1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360   (c) 120
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing      4,000
11   Fees Earned                        16,340
12   Wages Expense             4,275
13   Rent Expense              1,600
14   Utilities Expense           985
15   Supplies Expense            800             (a) 1,240
16   Miscellaneous Expense       455
17                            42,600    42,600
18   Insurance Expense                           (b) 100
19   Rent Revenue                                            (c) 120
20
21
22
(d) Wages accrued but not paid at
   the end of December total $250.
                                        NetSolutions
                                        Work Sheet
                         For the Two Months Ended December 31, 2005
                                                                             Adjusted
                               Trial Balance           Adjustments         Trial Balance
       Account Title          Debit    Credit      Debit       Credit     Debit     Credit
 1   Cash                      2,065
 2   Accounts Receivable       2,220
 3   Supplies                  2,000                          (a) 1,240
 4   Prepaid Insurance         2,400                          (b) 100
 5   Land                     20,000
 6   Office Equipment          1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360   (c) 120
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing      4,000
11   Fees Earned                        16,340
12   Wages Expense             4,275             (d)    250
13   Rent Expense              1,600
14   Utilities Expense           985
15   Supplies Expense            800             (a) 1,240
16   Miscellaneous Expense       455
17                            42,600    42,600
18   Insurance Expense                            (b) 100
19   Rent Revenue                                             (c) 120
20   Wages Payable                                            (d) 250
21
22
(e) Fees accrued at the end of
    December, but not recorded, total
    $500.
                                        NetSolutions
                                        Work Sheet
                         For the Two Months Ended December 31, 2005
                                                                               Adjusted
                               Trial Balance            Adjustments          Trial Balance
       Account Title          Debit    Credit          Debit    Credit      Debit     Credit
 1   Cash                      2,065
 2   Accounts Receivable       2,220             (e)     500
 3   Supplies                  2,000                           (a) 1,240
 4   Prepaid Insurance         2,400                           (b) 100
 5   Land                     20,000
 6   Office Equipment          1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360    (c) 120
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing      4,000
11   Fees Earned                        16,340                 (e)    500
12   Wages Expense             4,275              (d) 250
13   Rent Expense              1,600
14   Utilities Expense           985
15   Supplies Expense            800              (a) 1,240
16   Miscellaneous Expense       455
17                            42,600    42,600
18   Insurance Expense                            (b) 100
19   Rent Revenue                                              (c) 120
20   Wages Payable                                             (d) 250
21
22
(f) Depreciation of the office
    equipment is $50 for December.
                                           NetSolutions
                                           Work Sheet
                            For the Two Months Ended December 31, 2005
                                                                                Adjusted
                                  Trial Balance           Adjustments         Trial Balance
       Account Title             Debit    Credit     Debit        Credit     Debit     Credit
 1   Cash                         2,065
 2   Accounts Receivable          2,220             (e) 500
 3   Supplies                     2,000                          (a) 1,240
 4   Prepaid Insurance            2,400                          (b) 100
 5   Land                        20,000
 6   Office Equipment             1,800
 7   Accounts Payable                         900
 8   Unearned Rent                            360   (c) 120
 9   Chris Clark, Capital                  25,000
10   Chris Clark, Drawing         4,000
11   Fees Earned                           16,340                 (e) 500
12   Wages Expense                4,275             (d) 250
13   Rent Expense                 1,600
14   Utilities Expense              985
15   Supplies Expense               800             (a) 1,240
16   Miscellaneous Expense          455
17                               42,600    42,600
18   Insurance Expense                              (b) 100
19   Rent Revenue                                                (c) 120
20   Wages Payable                                               (d) 250
21   Depreciation Expense                           (f)     50
22   Accum. Depreciation                                          (f)   50
                                           NetSolutions
                                           Work Sheet
                            For the Two Months Ended December 31, 2005
                                                                              Adjusted
                                       To make more space,
                                  Trial Balance      Adjustments            Trial Balance
       Account Title             Debit   Credit     Debit    Credit        Debit     Credit
 1   Cash                         2,065 let’s remove the
 2   Accounts Receivable          2,220           (e) 500
 3   Supplies                     2,000         heading.(a) 1,240
 4   Prepaid Insurance            2,400                         (b) 100
 5   Land                        20,000
 6   Office Equipment             1,800
 7   Accounts Payable                         900
 8   Unearned Rent                            360   (c) 120
 9   Chris Clark, Capital                  25,000
10   Chris Clark, Drawing         4,000
11   Fees Earned                           16,340                (e) 500
12   Wages Expense                4,275             (d) 250
13   Rent Expense                 1,600
14   Utilities Expense              985
15   Supplies Expense               800             (a) 1,240
16   Miscellaneous Expense          455
17                               42,600    42,600
18   Insurance Expense                              (b) 100
19   Rent Revenue                                               (c) 120
20   Wages Payable                                              (d) 250
21   Depreciation Expense                           (f)   50
22   Accum. Depreciation                                        (f)   50
                                                                                Adjusted      31
                               Trial Balance           Adjustments            Trial Balance
       Account Title           Debit    Credit     Debit       Credit        Debit     Credit
 1   Cash                       2,065
 2   Accounts Receivable        2,220            (e) 500
 3   Supplies                   2,000                          (a) 1,240
 4   Prepaid Insurance          2,400                          (b) 100
 5   Land                      20,000
 6   Office Equipment           1,800
 7   Accounts Payable                      900
 8   Unearned Rent                         360   (c) 120
 9   Chris Clark, Capital               25,000
10   Chris Clark, Drawing       4,000
11   Fees Earned                        16,340                  (e) 500
12   Wages Expense              4,275            (d) 250
13   Rent Expense               1,600
14   Utilities Expense            985
15   Supplies Expense             800            (a) 1,240
16   Miscellaneous Expense        455
17                             42,600   42,600
18   Insurance Expense                           (b) 100
19   Rent Revenue                                              (c) 120
20   Wages Payable                                             (d) 250
     Depreciation Expense                        (f)     50
21
22   Accum. Depreciation
                             Summed                            (f)      50
23                             and                     2,260         2,260
24
25                            ruled
Jumlahkan saldo Unadjusted
Trial Balance dan Adjusment
  = Adjusted Trial Balance
                                                                              Adjusted      33
                             Trial Balance           Adjustments            Trial Balance
       Account Title         Debit    Credit     Debit       Credit        Debit     Credit
 1   Cash                     2,065
 2   Accounts Receivable      2,220            (e) 500
 3   Supplies                 2,000                          (a) 1,240
 4   Prepaid Insurance        2,400                          (b) 100
 5   Land                    20,000
 6   Office Equipment         1,800
 7   Accounts Payable                    900
 8   Unearned Rent                       360   (c) 120
 9   Chris Clark, Capital             25,000
10   Chris Clark, Drawing     4,000
11   Fees Earned                      16,340                  (e) 500
12   Wages Expense            4,275            (d) 250
13   Rent Expense             1,600
14   Utilities Expense          985
15   Supplies Expense           800            (a) 1,240
16   Miscellaneous Expense      455
17                           42,600   42,600
18   Insurance Expense                         (b) 100
19   Rent Revenue                                            (c) 120
20   Wages Payable                                           (d) 250
21   Depreciation Expense                      (f)     50
22   Accum. Depreciation                                     (f)      50
23                                                   2,260         2,260
24
25
                                                                              Adjusted      34
                             Trial Balance           Adjustments            Trial Balance
       Account Title         Debit    Credit     Debit       Credit        Debit     Credit
 1   Cash                     2,065                                          2,065
 2   Accounts Receivable      2,220            (e) 500                       2,720
 3   Supplies                 2,000                          (a) 1,240         760
 4   Prepaid Insurance        2,400                          (b) 100         2,300
 5   Land                    20,000                                         20,000
 6   Office Equipment         1,800                                          1,800
 7   Accounts Payable                    900                                            900
 8   Unearned Rent                       360   (c) 120                                  240
 9   Chris Clark, Capital             25,000                                         25,000
10   Chris Clark, Drawing     4,000                                          4,000
11   Fees Earned                      16,340                  (e) 500                16,840
12   Wages Expense            4,275            (d) 250                       4,525
13   Rent Expense             1,600                                          1,600
14   Utilities Expense          985                                            985
15   Supplies Expense           800            (a) 1,240                     2,040
16   Miscellaneous Expense      455                                            455
17                           42,600   42,600
18   Insurance Expense                         (b) 100                        100
19   Rent Revenue                                            (c) 120                    120
20   Wages Payable                                           (d) 250                    250
21   Depreciation Expense                      (f)     50                      50
22   Accum. Depreciation                                     (f)      50                 50
23                                                   2,260         2,260   43,400    43,400
24
25
 To make room on the slides for
    the Income statement and
Balance Sheet columns, the Trial
    Balance and Adjustments
  columns have been removed.
                               Adjusted
                             Trial Balance         Income Statement    Balance Sheet
                                                                                       38
       Account Title         Debit    Credit        Debit     Credit   Debit     Credit
 1   Cash                     2,065
 2   Accounts Receivable      2,720
 3   Supplies                   760
 4   Prepaid Insurance        2,300
 5   Land                    20,000
 6   Office Equipment         1,800
 7   Accounts Payable                    900
 8   Unearned Rent                       240
 9   Chris Clark, Capital             25,000
10   Chris Clark, Drawing     4,000
11   Fees Earned                      16,840
12   Wages Expense            4,525
13   Rent Expense             1,600
14   Utilities Expense          985
15   Supplies Expense         2,040
16   Miscellaneous Expense      455
17
18   Insurance Expense         100
19   Rent Revenue                            120
20   Wages Payable                           250
21   Depreciation Expense       50
22   Accum. Depreciation                   50
23                           43,400    43,400
24
25
Pindahkan Saldo dari Adjusted
  Trial Bal ke kolom Income
  Statement n Balance Sheet
                               Adjusted                                                   40
                             Trial Balance         Income Statement     Balance Sheet
       Account Title         Debit    Credit        Debit     Credit    Debit     Credit
 1   Cash                     2,065                                       2,065
 2   Accounts Receivable      2,720                                       2,720
 3   Supplies                   760                                         760
 4   Prepaid Insurance        2,300                                       2,300
 5   Land                    20,000                                      20,000
 6   Office Equipment         1,800                                       1,800
 7   Accounts Payable                    900                                         900
 8   Unearned Rent                       240                                         240
 9   Chris Clark, Capital             25,000                                      25,000
10   Chris Clark, Drawing     4,000                                       4,000
11   Fees Earned                      16,840                   16,840
12   Wages Expense            4,525                  4,525
13   Rent Expense             1,600                  1,600
14   Utilities Expense          985                    985
15   Supplies Expense         2,040                  2,040
16   Miscellaneous Expense      455                    455
17
18   Insurance Expense         100                     100
19   Rent Revenue                            120                  120
20   Wages Payable                           250                                        250
21   Depreciation Expense       50                      50
22   Accum. Depreciation                   50                                            50
23                           43,400    43,400
24
25
 Jumlahkan
empat kolom
  tersebut
                               Adjusted                                                   42
                             Trial Balance         Income Statement     Balance Sheet
       Account Title         Debit    Credit        Debit     Credit    Debit     Credit
 1   Cash                     2,065                                       2,065
 2   Accounts Receivable      2,720                                       2,720
 3   Supplies                   760                                         760
 4   Prepaid Insurance        2,300                                       2,300
 5   Land                    20,000                                      20,000
 6   Office Equipment         1,800                                       1,800
 7   Accounts Payable                    900                                         900
 8   Unearned Rent                       240                                         240
 9   Chris Clark, Capital             25,000                                      25,000
10   Chris Clark, Drawing     4,000                                       4,000
11   Fees Earned                      16,840                   16,840
12   Wages Expense            4,525                  4,525
13   Rent Expense             1,600                  1,600
14   Utilities Expense          985                    985
15   Supplies Expense         2,040                  2,040
16   Miscellaneous Expense      455                    455
17
18   Insurance Expense         100                     100
19   Rent Revenue                            120                  120
20   Wages Payable                           250                                        250
21   Depreciation Expense       50                      50
22   Accum. Depreciation                   50                                         50
23                           43,400    43,400        9,755     16,960   33,645    26,440
24          Net Income                               7,205                         7,205
25                                                  16,960     16,960    33,645   33,645
Perbedaan pada kolom Income
  Statement merupakan Net
        Income(Loss)
  Perbedaan pada Kolom
Balance Sheet = Net Income
(Loss) pada periode tersebut
       Income Statement   Balance Sheet

        9,755 16,960 33,645       26,440
        7,205                      7,205
       16,960 16,960 33,645       33,645



Net Income                Net Income
                      NetSolutions
                   Income Statement
         For Two Months Ended December 31, 2005

      Fees earned                  $16,840
      Rent revenue                     120
         Total revenues                      $16,960
      Expenses:
         Wages expense             $ 4,525
         Supplies expense            2,040
         Rent expense                1,600
         Utilities expense             985
         Insurance expense             100
         Depreciation expense           50
         Miscellaneous expense         455
            Total expenses                     9,755
      Net income                             $ 7,205


Semua Akun berasal dari kolom Income Statement pada
                    Worksheet
                     NetSolutions
              Statement of Owner’s Equity
     For the Two Months Ended December 31, 2005

Chris Clark, Capital, November 1, 2005             $   0
Investment on November 1, 2005           $25,000
Net income for November and December       7,205
                                         $32,205
Less withdrawals                           4,000
Increase in owner’s equity                        28,205
                                         From the
Chris Clark, Capital, December 31, 2005Either from the
                                                 $28,205
                                     Balance Sheet
                                         income
                                    statement or of
                                    debit column the
                                    the work sheet.
                                      work sheet.
                                  NetSolutions
                                 Balance Sheet
                               December 31, 2005
         Assets                              Liabilities
Current assets:                           Current liabilities:
 Cash                     $ 2,065           Accounts payable      $900
 Accounts receivable        2,720           Wages payable           From the
                                                                   250
 Supplies                     760           Unearned rent           Statement
                                                                   240
 Prepaid insurance          2,300         Total liabilities            $ 1,390
   Total current assets $ 7,845
                                                                  of Owner’s
Property, plant, and                                                Equity
 equipment:
 Land                     $20,000
 Office equip. $1,800
 Less accum.
   depreciation       50 1,750              Owner’s Equity
    Total property, plant                 Chris Clark, Capital         28,205
      and equipment                21,750 Total liabilities and
Total assets                      $29,595   owner’s equity            $29,595
Clossing Entries

    Clossing entries adl Jurnal
     yang dibuat pada akhir
        periode akuntansi
Clossing Entries

    Fungsi Clossing entries adl
     Menutup Saldo perkiraan
       sementara/nominal
Clossing Entries

    Dalam proses penutupan
      digunakan perkiraan
    “INCOME SUMMARY”
     Langkah2 Clossing Entries
1.   Menutup Perkiraan Revenue
2.   Menutup Perkiraan Expenses
3.   Menutup Perkiraan Income Summary
4.   Menutup Perkiraan Drawing/
     Withdrawal
           The Closing Process
                 Income Summary
    Menutup                                Menutup
2   Expenses ke
    Income Summary                    1    Revenue ke
                                           Income Summary
                 Net Income or Net Loss is
            3    transferred to Owner’s Capital
                Akun Income Summary
                  OWNER’S muncul
                tidak akan CAPITAL dlm
                  financial statements.
                 Menutup Drawing ke
             4   Owner’s Capital
                     The Closing Process
        Wages Expense                                       Fees Earned

Bal.    4,525                     Income Summary                  Bal. 16,840

         Rent Expense                                       Rent Revenue
Bal.    1,600                                                     Bal.     120
   Depreciation Expense
Bal.       50                                                  Note:
       Utilities Expense                                 Saldo tersebut adl
                              Chris Clark, Capital
Bal.      985                                             Saldo sebelum
                                           Bal. 25,000
       Supplies Expense                                     penutupan
Bal.    2,040
       Insurance Expense
Bal.      100
                             Chris Clark, Drawing
  Miscellaneous Expense
                           Bal.    4,000
Bal.      455
     The Closing Process
              Close Revenues

Fees Earned      16.840
Rent Revenue        120
         Income Summary                 16.960



            Income Summary      Fees Earned
                               16,840    Bal. 16,840
                    16,960      Rent Revenue
                                120     Bal.   120
           Close Expenses

Income Summary 9,775
    Wages Expense         4,525
    Rent Expense          1,600
    Depreciation Expense     50
    Utilities Expense       985
    Supplies Expense      2040
    Insurance Expense       100
    Miscellaneous Expense   455
                                Close Expenses
        Wages Expense
Bal.    4,525        4,525           Income Summary
         Rent Expense                 9,775   16,960
Bal.    1,600        1,600

   Depreciation Expense
Bal.       50              50
       Utilities Expense
Bal.      985           985
       Supplies Expense
Bal.    2,040        2,040
       Insurance Expense
Bal.      100           100
  Miscellaneous Expense
Bal.      455           455
         Close Income Summary


Income Summary           7,205
    Chris Carlk, Capital      7,205
Close Income Summary

            Income Summary
             9,775    16,960
             7,205




        Chris Clark, Capital
                     Bal. 25,000
                           7,205




       Chris Clark, Drawing
     Bal.    4,000
        Close Drawing

Chris Carlk, Capital     4,000
     Chris Carlk, Drawing     4,000

              Chris Clark, Capital
                  4,000 Bal. 25,000
                              7,205




             Chris Clark, Drawing
           Bal.   4,000        4,000
        Review of the Closing Process
        Wages Expense                                             Fees Earned

Bal.    4,525        4,525
                      4,525             Income Summary          16,840 Bal. 16,840
                                                                 16,480
         Rent Expense                    9,775   16,960
                                                   16,960         Rent Revenue
Bal.    1,600         1,600
                     1,600               7,205
                                                                   120 Bal.
                                                                    120           120
   Depreciation Expense
Bal.       50               50
                           50
       Utilities Expense
                                                                 Close Revenues
Bal.      985            985
                        985         Chris Clark, Capital
                                         4,000
                                        4,000 Bal. 25,000        Close Expenses
       Supplies Expense
                                                    7,205
                                                    7,205
Bal.    2,040         2,040
                     2,040                                    Close Income Summary
       Insurance Expense
Bal.      100           100
                         100                                      Close Drawing
                                   Chris Clark, Drawing
  Miscellaneous Expense
                                 Bal.    4,000        4,000
Bal.      455           455
                         445
  Setelah Jurnal Penutup
dibuat dan diposting maka
Saldo Perkiraan Nominal =
             0
     Post-closing Trial Balance
                           NetSolutions
                     Post-Closing Trial Balance
                        December 31, 2005
Cash                                        2 065 00
Accounts Receivable                         2 720 00
Supplies                                      760 00
Prepaid Insurance                           2 300 00
Land                                       20 000 00
Office Equipment                            1 800 00
Accumulated Depreciation                                 50 00
Accounts Payable                                        900 00
Wages Payable                                           250 00
Unearned Rent                                           240 00
Chris Clark, Capital                                 28 205 00
                                           29 645 00 29 645 00
                    REVERSING ENTRY
                      Jurnal Pembalik
adl:
Jurnal yang dibuat pada AWAL periode berikutnya
Fungsinya: membalik jurnal penyesuaian atas:

       1. Defferred Account (Revenue/Expense) yang dicatat
                     dengan pendekatan Nominal
          2. Semua Acrrued Account (Revenue/Expense)
             REVERSING ENTRY
               Jurnal Pembalik
Ciri-ciri Jurnal Penyesuaian yang harus di-
   Reverse:
1. Adanya Akun Expense DIKREDIT
2. Adanya Akun Revenue DIDEBIT
3. Adanya Akun PAYABLE
4. Adanya Akun RECEIVABLE
  Financial Analysis for
      NetSolutions
Working   Current   Current
Capital = Assets – Liabilities

Working
Capital = $7,845 – $1,390
Working
Capital = $6,455
  Financial Analysis for
      NetSolutions
Current     Current   Current
 Ratio    = Assets ÷ Liabilities

Current
 Ratio    = $7,845 ÷    $1,390
Current
          =   5.6
 Ratio
Financial Analysis for
    NetSolutions
        This ratio implies that
     NetSolutions is able to pay its
          current liabilities.
  Financial Analysis for
      NetSolutions

Current     Current   Current
 ratio    = Assets ÷ Liabilities

Current
 ratio  = $7,845 ÷ $1,390
Current
 ratio  = 5.6
Financial Analysis for
    NetSolutions
NetSolutions can use the current ratio to
make comparisons across companies and
       with industry averages.
Chapter 4


     The End

				
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