Quiz 5 - IUP

On April 1, 2019, an invoice was sent to Queen Store for merchandise sales totaling IDR 6,700,000; invoice number 002, terms 3/10, n/30. This transaction was recorded in the journal . . .

• Sales Journal

• Cash Disbursement Journal

• Purchase Journal

• General Journal

• Cast Receipts Journal

On August 10, 2018, PD. Kita Jaya purchased goods from PT. Ademsari for IDR 2,000,000 with terms EOM (end of month). This transaction should be recorded by PD. Kita Jaya in the . . .

• General Journal

• Purchase Journal

• Sales Journal

• Cash Receipts Journal

• Cash Disbursement Journal

PT Prilline purchased merchandise on May 5, 2019, for IDR 5,320,000 with terms 2/10, n/30. On May 7, 2019, merchandise worth IDR 2,000,000 was returned. The amount paid by PT Prilline on May 13, 2019, is . . .

• IDR 1,960,000

• IDR 2,000,000

• IDR 3,253,600

• IDR 4,000,000

• IDR 6,000,000

The debt subsidiary ledger is specifically used for....

• Record inventory purchases on credit.

• Provide details related to debt balances to each creditor.

• Calculating the company's total revenue.

• Presents a direct cash flow statement.

• Recording changes in the value of fixed assets.

The main difference between general ledger and subsidiary ledger is....

• General ledgers record all transactions, while auxiliary ledgers only record certain transactions.

• General ledgers are more detailed than subsidiary ledgers.

• General ledgers are used for large companies, while subsidiary ledgers are used for small companies.

• General ledgers do not require adjustment, while subsidiary ledgers need to be adjusted periodically.

• General ledgers are used to record cash transactions, while subsidiary ledgers are used to record credit transactions.

ABC Company pays vehicle insurance for 1 year amounting to $12,000 on July 1, 2023. What is the value of insurance expense that should be recognized in the financial statements as of December 31, 2023?

• $12,000

• $6,000

• $3,000

• $9,000

• $10,000

On March 1, 2023, XYZ Corporation receives a building rental payment for 2 years amounting to $48,000. What is the rental income that should be recognized in the income statement for the year 2023?

• $48,000

• $24,000

• $20,000

• $28,000

• $40,000

DEF Company pays employee salaries every 25th of the month. On December 31, 2023, the company has not paid salaries for the period of December 26-31, amounting to $15,000. The appropriate adjusting journal entry to record this transaction is:

• Salary Expense (Dr) $15,000 Cash (Cr) $15,000

• Salary Expense (Dr) $15,000 Salary Payable (Cr) $15,000

• Cash (Dr) $15,000 Salary Income (Cr) $15,000

• Salary Payable (Dr) $15,000 Salary Expense (Cr) $15,000

• Salary Expense (Dr) Rp15,000,000 Salary Income (Cr) Rp15,000,000

Revenue transactions that have not yet been received but are economically already revenue, this is called....

• Active anticipation transaction

• Passive anticipation transaction

• Active transitorily transaction

• Passive transitory transaction

• Deferral transaction

The following are accounts of anticipatory transactions, except ...

• Rent receivable

• Prepaid rent

• Rent payable

• Interest receivable

• Salary payable