Economic Growth and Unemployment Challenges A TPAK Perspective

Economic Growth and Unemployment Challenges: A TPAK Perspective OTTO CAR SERVICE Balance Sheet Remaining as of November 31, 2022 No. 10 1 10 2 10 3 10 4 10 5 111 112 113 114 116 117 20 1 30 1 30 2 40 1 50 1 50 2 50 3 50 4 50 9 Description Debit Cash Rp 9,376,000.00 Trade receivables Rp 2,432,000.00 Office supplies Rp 112,000.00 Workshop equipment Rp 560,000.00 Prepaid rent Office equipment Accumulated depreciation of office equipment Workshop equipment Accumulated depreciation of workshop tools Vehicle Accumulated vehicle depreciation Rp Rp 768,000.00 256,000.00 Credit Rp 25,600.00 Rp 128,000.00 Rp 384,000.00 Rp 2,560,000.00 Rp 3,840,000.00 Accounts payable IDR 2,694,400.00 Otto Capital IDR 11,200,000.00 Prive Otto Rp 448,000.00 Service revenue IDR 7,968,000.00 Salary Expenses Rp 1,760,000.00 Electricity, water and telephone expenses Rp 72,000.00 Advertising expenses Rp 96,000.00 Insurance Expenses Other expenses IDR 80 ,000.00 Rp 40,000.00 IDR 22,400,000.00 IDR 22,400,000.00 During December 2000, the following transactions occurred: December 1 : Purchased office supplies in cash amounting to Rp. 175,000.00 December 4: Pay insurance for the month of December in the amount of Rp. 360,000.00 December 5: Pay accounts payable in the amount of Rp. 1,350,000.00 December 6: Purchased workshop equipment in cash amounting to Rp. 95,000.00 December 9 : Send an invoice to a customer for completed work in the amount of Rp. 225,000. December 10: Received service income Rp. 560,000.00 December 13 : Purchased stationery from Anita's bookstore on credit for Rp. 230,000.00 December 16: Paid workshop room rent for 6 months in the amount of Rp. 576,000. lOMoARcPSD|26370826 December 16: Service revenue was earned in cash of Rp. 370,000.00 and Rp. 230,000.00 was received later. December 17 : Pay employee salaries for the month of December in the amount of Rp. 750,000.00 December 19: Pay accounts payable in the amount of Rp. 1,250,000.00 December 20: Received an invoice sent on December 9, 2000. December 20 : Pay for electricity, water, and telephone expenses for the month of December amounting to Rp. 95,000.00 December 22 : Purchased workshop equipment on credit for Rp. 3,000,000.00 December 24: Pay advertising expenses for December amounting to Rp. 100,000.00 December 28 : Service revenue of Rp. 1,750,000.00 was earned in cash and Rp. 525,000.00 was deferred. December 30th : Mr. Otto needed money and took Rp. 950,000 from the company's account. December 30: Pay salary for the month of December amounting to Rp. 430.000,00 The adjustment data as of December 31, 2000 is as follows: 1. The remaining office equipment amounted to Rp. 215,000 and the remaining workshop equipment amounted to Rp. 105,000. 2. Insurance is paid for 6 months from December 1, 2000. 3. Rent is payable for 6 months from December 1, 2000. 4. Office equipment and workshop equipment are depreciated at 10% and 15% a year, respectively. 5. Accrued salary amounted to Rp. 830,000.00 Requested: a. Organize the above transactions into a GENERAL JOURNAL! b. Post the general journal to the BIG BOOK! c. Prepare an ADJUSTMENT JOURNAL based on the data! d. Prepare a WORKING PAPER for the period December 31, 2000! e. Prepare the FINANCIAL REPORT for the period of December 31, 2000! f. Create a RETURN JOURNAL! g. Create a CLOSING JOURNAL! Adjustment journal: 1. Office supplies used = Rp. 517,000.00 - Rp. 215,000.00 = Rp. 302,000.00 Adjustment journal: Office supplies expense Rp . 302,000.00 Office supplies Rp. 302,000.00 Workshop equipment used = Rp. 655,000.00 - Rp. 105,000.00 = Rp. 550,000.00 Adjustment journal: Workshop equipment expenses Rp . 550,000.00 Workshop equipment Rp. 550,000.00 2. Load method Unused = January 1, 2000 - July 31, 2001 = 5 Months 5 / 6 x Rp. 440,000.00 = Rp. 366,667.00 Adjustment Journal: lOMoARcPSD|26370826 Prepaid insurance Rp Insurance Expenses Rp . 366,667.00 . 366,667.00 3. Treasure method Used = December 1, 2000 - December 31, 2001 = 1 Month 1 / 6 x Rp. 1,344,000.00 = Rp. 224,000.00 Adjustment journal: Rent Expense Rp . 224,000.00 Prepaid rent Rp. 224,000.00 4. Depreciation = 10% x Rp. 256,000.00 = Rp. 25,600.00 Adjustment journal: Office equipment depreciation expense Rp. 25,600.00 Accumulated depreciation of office equipment Rp. 25,600.00 Depreciation = 15% x Rp. 5,560,000.00 = Rp. 834,000.00 Adjustment journal: Depreciation expense of workshop equipment Rp. 834,000.00 Accumulated depreciation of workshop equipment Rp. 834,000.00 5. Adjustment journal: Salary Expense Salary payable Rp Rp. 830,000.00 . 830,000.00