The Unemployment Crisis and the Role of TPAK in Economic Recovery

The Unemployment Crisis and the Role of TPAK in Economic Recovery 1. Prepare the necessary adjusting journal entry on December 31, 1991 from the following data: 1) Equipment purchases during 1991 were Rp. 750,000.00. On December 31, 1991, the remaining equipment was Rp. 150,000.00. 2) Equipment used during 1991 was Rp. 400,000 3) A machine with a price of Rp. 800,000.00 is depreciated by 20% every year. 4) A vehicle was purchased at the beginning of October 1991 at a price of Rp. 18,000,000.00 The estimated economic life of the vehicle is 6 years, with a residual value at the end of the sixth year of Rp. 3,000,000.00 5) On April 1, 1991, the insurance premium for 1 year of Rp. 600,000.00 was paid and recorded in the prepaid insurance account. 6) On April 1, 1991, the insurance premium paid for 1 year amounting to Rp. 600,000.00 was recorded in the insurance expense account. 7) Revenue received in advance amounting to Rp. 2,400,000 for 4 houses, until December 31, 1991 only 3 houses were completed, recorded in the service revenue account. 8) In December, Rp. 5,000,000.00 was recorded as unearned income for the transportation of 100 tons of trade goods from the port to the warehouse. By the end of December, 40 tons have been transported, recorded in the account of unearned income. 9) The company has completed work amounting to Rp. 1,000,000, but payment has not yet been received. 10) Accrued salary of Rp. 300,000 ANSWER: 1. Equipment used: Rp. 750,000.00 - Rp. 150,000.00 = Rp. 600,000.00 Adjustment Journal: Equipment expenses Rp . 150,000.00 Equipment Rp. 150,000.00 2. Equipment used: Rp. 400,000.00 Adjustment Journal: Equipment expenses Rp . 400,000.00 Equipment Rp. 400,000.00 3. Depreciation: 20% x Rp. 800,000.00 = Rp. 160,000.00 Adjustment journal: Machine depreciation expense Rp . 160,000.00 Accumulated machine depreciation Rp. 160,000.00 4: = = Rp. 2,500,000.00 October - December = 3 Months 3 / 12 x Rp. 2,500,000.00 = Rp. 625,000.00 Adjustment Journal: Vehicle Depreciation Expense Rp . 625,000.00 Accumulated Depreciation of vehicle Rp . 625,000.00 5. Treasure method: Used = April 1, 1991 - December 31, 1991 = 9 months 9 / 12 x Rp. 600,000.00 = Rp. 450,000.00 Adjustment Journal: Insurance Expenses Rp . 450,000.00 Insurance paid in advance Rp. 450,000.00 6. Load Method: Unused = January 1, 1992 - March 31, 1992 = 3 Months 3 / 12 x Rp. 600,000.00 = Rp. 150,000.00 Adjustment Journal: Insurance paid in advance Rp. 450,000.00 Insurance Expenses Rp 7. Income method: Unused = 1 House 1 / 4 x Rp. 2,400,000.00 = Rp. 600,000 Adjustment Journal: Service Revenue Rp . 600,000.00 Services received in advance Rp . 450,000.00 . 600,000.00 lOMoARcPSD|26370826 8. Debt Method: Used = 3 Houses 40 / 100 x Rp. 5,000,000.00 = Rp. 2,000,000.00 Adjustment Journal: Services received in advance Rp . 2,000,000.00 Service income Rp. 2,000,000 9. Adjustment Journal Accounts ReceivableRp . 1,000,000.00 Service Revenue Rp. 1,000,000 10. Adjustment Journal Salary Expense Rp . 300,000.00 Salary payableRp . 300,000