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WorksheetsKuis Pengantar Akuntansi 2 Engglish
Total questions: 93
Worksheet time: 49mins
Accounting is the process of:
Collecting and recording the company's economic data only
Identifying, recording, and communicating economic information
Paying the company's debts
Determining the market value of a product
The financial report that shows the financial position of an entity at a specific point in time is:
Income Statement
Statement of Changes in Equity
Balance Sheet
Cash Flow Statement
The following transaction will increase assets and equity:
Payment of accounts payable
Owner's investment in cash
Purchase of supplies on credit
Payment of employee salaries
If the company buys supplies worth Rp5,000,000 in cash, then:
Assets increase and equity increases
Assets increase and liabilities increase
Assets increase and assets decrease
Equity increases and liabilities decrease
Which of the following is included in real/permanent accounts?
Service revenue
Salary expense
Cash
Rent expense
In the basic accounting equation, if assets increase by Rp10,000,000 and liabilities remain, then:
Equity decreases by Rp10,000,000
Equity remains the same
Equity increases by Rp10,000,000
Assets also decrease by Rp10,000,000
The following account is included in the liabilities group:
Capital
Accounts Receivable
Unearned Revenue
Salary Expense
General journals are used to record:
Only cash transactions
Only purchase transactions
All financial transactions that occur
Only sales transactions
The following is not a fundamental principle in accounting:
Historical Cost Principle
Revenue Recognition Principle
Diligence Principle
Economic Entity Principle
The company receives revenue of Rp2,000,000 in cash. The impact of this transaction is:
Assets increase, revenue increases
Assets increase, expenses increase
Assets increase, liabilities increase
Assets decrease, revenue increases
The following transaction will cause an increase in the expense account:
Payment of employee salaries
Additional investment from the owner
Payment of accounts payable
Purchase of equipment on credit
The following account has a normal balance on the debit side, except:
Cash
Accounts Receivable
Electricity Expense
Accounts Payable
If a company pays rent of Rp6,000,000 for 3 months in advance, then this transaction will be recorded as:
Rent expense
Rent revenue
Prepaid rent
Rent payable
The revenue account has a normal balance on the side of:
Debit
Credit
Left
Debit and credit
In the accounting cycle process, the step taken after the adjusting journal is:
Preparing financial statements
Preparing general journal
Preparing adjusted trial balance
Closing accounts
The inventory recording method that records every transaction of goods in and out directly into the inventory account is:
Periodic method
Perpetual method
Physical method
Consignment method
In the periodic method, inventory purchases will be recorded in the account:
Inventory
Cost of Goods Sold
Purchases
Accounts Receivable
If the price of goods rises over time, then the inventory valuation method that will yield the highest net profit is:
FIFO
LIFO
Average
If the price of goods rises over time, the inventory valuation method that will yield the highest net profit is:
FIFO
LIFO
Weighted average
Retail method
In the FIFO method, the first goods purchased will be considered as:
Goods that are stored
Goods that are sold first
Damaged goods
Goods that are sold last
In the LIFO method, the impact on the ending inventory value when prices rise is:
High value
Same as FIFO
Low value
Unchanged
The company uses the periodic method. Data shows: Beginning inventory = Rp10,000,000, Purchases during the period = Rp40,000,000, Ending inventory = Rp8,000,000. What is the Cost of Goods Sold (COGS)?
Rp42,000,000
Rp50,000,000
Rp38,000,000
Rp40,000,000
In a perpetual system, when a sale occurs, the accounts affected are:
Only sales account
Sales and receivables
Sales and cash
Sales and COGS and inventory
In the perpetual method, when a company purchases merchandise on credit, the journal entry recorded is:
Dr. Inventory ........... xxx Cr. Cash ...................... xxx
Dr. Purchases ........... xxx Cr. Accounts Payable ...... xxx
Dr. Inventory ........... xxx Cr. Accounts Payable ...... xxx
Dr. Cost of Goods Sold ........... xxx Cr. Inventory ............................. xxx
In the weighted average method, each time a sale occurs, the COGS is determined based on:
First purchase price
Last purchase price
Average of all purchase prices
Market value
The following is inventory data: Date Transaction Unit Price/Unit 1 Jan Beginning inventory 100 Rp10,000 5 Jan Purchase 50 Rp12,000 10 Jan Sale 80 - If using the FIFO method, what is the COGS for the sale of 80 units on January 10?
Rp800,000
Rp820,000
Rp860,000
Rp880,000
If a company wants to save on taxes when prices of goods rise, the method that tends to be chosen is:
FIFO
LIFO
Average
Specific identification method
A cash sale of goods amounting to Rp5,000,000 in a perpetual system will be recorded with the journal:
Dr. Cash ................................ Rp5,000,000 Cr. Sales ...................... Rp5,000,000
Dr. Cash ................................ Rp5,000,000 Cr. Sales ...................... Rp5,000,000 Dr. COGS ............................... Rp3,000,000 Cr. Inventory ..................... Rp3,000,000
Dr. Sales ............................... Rp5,000,000 Cr. Cash ............................ Rp5,000,000
Dr. COGS ............................... Rp5,000,000 Cr. Inventory ..................... Rp5,000,000
Accounts receivable arise from:
Cash sales
Purchase of fixed assets
Credit sales
Payment of electricity expenses
The account used to record estimated uncollectible receivables is:
Bad Debt Expense
Allowance for Doubtful Accounts
Accounts Receivable
Investment Loss
The account used to record estimated uncollectible receivables is:
Uncollectible Receivable Expense
Allowance for Uncollectible Receivables
Accounts Receivable
Investment Loss
If the direct method is used to record uncollectible receivables, the journal entry for the write-off is:
Dr. Uncollectible Receivable Expense .......... xxx Cr. Allowance for Uncollectible Receivables ................ xxx
Dr. Allowance for Uncollectible Receivables .......... xxx Cr. Accounts Receivable ............................... xxx
Dr. Uncollectible Receivable Expense .......... xxx Cr. Accounts Receivable ............................... xxx
Dr. Accounts Receivable .................................. xxx Cr. Revenue .................................. xxx
The main difference between the direct method and the allowance method in recording uncollectible receivables lies in:
The amount of receivables
The timing of loss recognition
The value of fixed assets
The impact on salary expenses
The adjusting journal entry to record estimated uncollectible receivables using the allowance method is:
Dr. Accounts Receivable .......................... xxx Cr. Allowance for Uncollectible Receivables .......... xxx
Dr. Uncollectible Receivable Expense .......... xxx Cr. Allowance for Uncollectible Receivables .......... xxx
Dr. Uncollectible Receivable Expense .......... xxx Cr. Accounts Receivable ............................... xxx
Dr. Allowance for Uncollectible Receivables .......... xxx Cr. Cash ................................................ xxx
If a receivable of Rp2,000,000 that was previously written off is successfully collected, the journal entry made is:
Dr. Cash .................................... Rp2,000,000 Cr. Other Income .... Rp2,000,000
Dr. Accounts Receivable ................... Rp2,000,000 Cr. Cash .................................... Rp2,000,000
Dr. Accounts Receivable ................... Rp2,000,000 Allowance for Uncollectible Receivables ... Rp2,000,000 Dr. Cash ......................................... Rp2,000,000 Cr. Accounts Receivable ................... Rp2,000,000
Dr. Cash ......................................... Rp2,000,000 Cr. Accounts Receivable ................... Rp2,000,000 Dr. Uncollectible Receivable Expense ... Rp2,000,000 Cr. Allowance for Uncollectible Receivables ... Rp2,000,000
The estimated uncollectible receivables amount to 3% of credit sales of Rp100,000,000. The adjusting journal entry is:
Dr. Allowance for Uncollectible Receivables ........ Rp3,000,000 Cr. Accounts Receivable ................................ Rp3,000,000
Dr. Accounts Receivable ................................. Rp3,000,000 Cr. Revenue ..................................... Rp3,000,000
Dr. Uncollectible Receivable Expense ........ Rp3,000,000 Cr. Allowance for Uncollectible Receivables .... Rp3,000,000
Dr. Uncollectible Receivable Expense ........ Rp3,000,000 Cr. Accounts Receivable ................................. Rp3,000,000
In the aging analysis of receivables, the longer the receivables remain uncollected, then:
The chance of collectibility increases
It does not affect the allowance value
The chance of uncollectible receivables increases
It needs to be written off immediately
The method of assessing uncollectible receivables based on the age of receivables is also called:
Direct method
Global allowance method
Final balance analysis method
Aging analysis method
Which of the following is not a characteristic of promissory notes receivable?
Has a specific time period
Can accrue interest
Cannot be transferred
Has a nominal value
Which of the following is not a characteristic of a promissory note?
Has a specific time period
Can incur interest
Cannot be transferred
Has a certain nominal value
If a company receives a promissory note for 3 months worth Rp10,000,000 with an interest of 12% per year, what is the total interest received at maturity?
Rp300,000
Rp360,000
Rp1,200,000
Rp1,000,000
If accounts receivable of Rp5,000,000 is considered uncollectible and written off, what is the impact on the financial statements?
Expenses increase, assets decrease
Revenue increases
Equity increases
Liabilities decrease
Which of the following is included in fixed assets?
Accounts receivable
Land
Inventory
Cash
Which of the following is not included in the acquisition cost of fixed assets?
Purchase price
Freight costs
Purchase tax
Annual maintenance costs
A machine is purchased for Rp50,000,000. Installation costs Rp2,000,000 and freight costs Rp1,000,000. What is the acquisition cost?
Rp50,000,000
Rp51,000,000
Rp52,000,000
Rp53,000,000
Depreciation is:
Decrease in market value of assets
The process of allocating the cost of fixed assets over their useful life
Adjustment to liabilities
Decrease in capital due to losses
Fixed assets that are not depreciated are:
Buildings
Machines
Land
Vehicles
The depreciation method that results in the same depreciation expense each year is:
Declining balance method
Straight-line method
Units of production method
Depletion method
The residual value of a fixed asset is:
Initial book value
Current market value
Estimated value at the end of useful life
Insurance value
A vehicle is purchased for Rp80,000,000, with a useful life of 5 years and a residual value of Rp5,000,000. What is the annual depreciation expense using the straight-line method?
Rp15,000,000
Rp16,000,000
Rp75,000,000
Rp20,000,000
If a fixed asset is sold and generates a profit, where is that profit recorded?
Cash
Revenue
Profit from Sale of Fixed Assets
Revaluation Reserve
Fixed assets are classified in financial statements as:
Long-term liabilities
Investments
Current assets
Non-current assets
When a fixed asset is sold, the value recorded as the basis for calculating profit or loss is:
Current market value
Initial purchase price
Book value at the time of sale
Residual value
A machine is purchased for Rp100,000,000, has been depreciated by Rp60,000,000, and is sold for Rp50,000,000. What happens?
There is a loss of Rp10,000,000
There is a profit of Rp10,000,000
There is no profit/loss
There is a profit of Rp60,000,000
The journal entry for the sale of a fixed asset with a profit includes:
Suatu kendaraan dengan harga perolehan Rp120.000.000 dan akumulasi penyusutan Rp90.000.000 dijual seharga Rp25.000.000. Maka jurnal yang benar adalah:
Dr. Kas .................................................... 25.000.000 Dr. Akumulasi Penyusutan ..................... 90.000.000 Cr. Kendaraan ......................................... 120.000.000 Cr. Laba Penjualan Aktiva Tetap .......... 5.000.000
Dr. Kas .................................................... 25.000.000 Dr. Akumulasi Penyusutan ..................... 90.000.000 Dr. Kerugian Penjualan Aktiva Tetap ... 5.000.000 Cr. Kendaraan ......................................... 120.000.000
Dr. Kas .................................................... 25.000.000 Dr. Akumulasi Penyusutan ..................... 90.000.000 Cr. Kendaraan ......................................... 115.000.000 Cr. Laba Penjualan Aktiva Tetap .......... 5.000.000
Dr. Kas .................................................... 25.000.000 Dr. Kendaraan .......................................... 120.000.000 Cr. Akumulasi Penyusutan ..................... 90.000.000 Cr. Laba Penjualan Aktiva Tetap .......... 5.000.000
Jika aktiva tetap dijual di bawah nilai bukunya, maka:
Diakui sebagai pendapatan lain-lain
Dicatat sebagai beban penyusutan
Dicatat sebagai kerugian penjualan aktiva
Tidak perlu dicatat dalam jurnal
Yang termasuk dalam utang jangka pendek adalah:
Utang bank 5 tahun
Obligasi 10 tahun
Utang dagang
Sewa dibayar di muka
Utang jangka pendek biasanya jatuh tempo dalam waktu:
Lebih dari satu tahun
Kurang dari satu bulan
Satu tahun atau siklus operasi normal perusahaan
Lima tahun
Perusahaan menerima barang dari pemasok senilai Rp25.000.000 dengan syarat 2/10, n/30. Jika pembayaran dilakukan dalam 8 hari, maka jumlah yang dibayarkan adalah:
Rp25.000.000
Rp24.500.000
Rp24.000.000
Rp23.000.000
Saat perusahaan mencatat utang gaji yang belum dibayar, maka jurnalnya adalah:
Dr. Kas ...................................... xxx Cr. Beban Gaji ........................ xxx
Dr. Beban Gaji ........................... xxx Cr. Utang Gaji .......................... xxx
Dr. Gaji Dibayar di Muka .......... xxx Cr. Kas ...................................... xxx
Dr. Utang Gaji ........................... xxx Cr. Beban Gaji .......................... xxx
Jika suatu perusahaan memiliki utang wesel jangka pendek, biasanya dikenakan:
Diskon penjualan
Bunga
Dividen
Penyusutan
Utang usaha akan bertambah jika:
Perusahaan membayar utangnya
Perusahaan membeli barang secara tunai
Perusahaan membeli barang secara kredit
Perusahaan menerima pelunasan piutang
A company purchases goods in cash
A company purchases goods in cash
A company purchases goods on credit
A company receives payment of receivables
At the time of payment of trade debts, the impact on the financial statements is:
Assets increase, liabilities decrease
Assets decrease, liabilities decrease
Assets decrease, equity increases
Equity decreases, liabilities increase
If the company records unpaid interest debt, the account used is:
Interest expense and cash
Accounts payable and interest expense
Interest expense and interest payable
Cash and interest payable
A company signs a short-term promissory note of Rp10,000,000, interest 12% per year, for a period of 3 months. How much interest must be paid at maturity?
Rp300,000
Rp1,200,000
Rp1,000,000
Rp400,000
When the company records the issuance of a short-term promissory note, the journal entry is:
Dr. Cash ...................................... xxx Cr. Notes Payable ........................ xxx
Dr. Accounts Payable ........................ xxx Cr. Cash ...................................... xxx
Dr. Interest Expense ......................... xxx Cr. Notes Payable ........................ xxx
Dr. Notes Payable ........................... xxx Cr. Interest Expense ....................... xxx
Short-term promissory notes will be reported in the balance sheet as:
Equity
Non-current liabilities
Fixed assets
Current liabilities
The main difference between accounts payable and promissory notes is:
Accounts payable incur interest, promissory notes do not
Promissory notes have a written agreement and interest
Accounts payable are long-term, promissory notes are short-term
Promissory notes are not recorded in the journal
If a short-term promissory note matures and is paid, the correct journal entry is:
Dr. Notes Payable ....................... xxx Cr. Cash .................................... xxx
Dr. Cash ........................................ xxx Cr. Notes Payable ........................ xxx
Dr. Notes Payable ....................... xxx Cr. Interest Expense ..................... xxx
Dr. Accounts Payable ...................... xxx Cr. Cash .................................... xxx
The following is not included as short-term debt:
Promissory notes payable for 6 months
Unpaid interest debt
Trade payables
10-year mortgage
If the company does not pay short-term debt on time, the impact could be:
Increased income
Increase in fixed assets
Penalties or interest fines
Increased depreciation
The components of equity in a sole proprietorship do not include:
Owner's capital
Drawings
Retained earnings
Other comprehensive income
If the owner adds cash investment to the company, the accounts that increase are:
Cash and Drawings
Cash and Owner's Capital
Owner's Capital and Expenses
Cash and Expenses
Withdrawals by the owner from the company for personal use are called:
Income
Expenses
Drawings
Capital
The drawings account has a normal balance on the side:
Credit
Debit
Right
Capital
Which of the following causes a decrease in equity, except:
Expenses
Prive
Net profit
Loss
The journal to record prive by the owner is:
Dr. Owner's Capital .............. xxx Cr. Cash ................................ xxx
Dr. Prive ................................. xxx Cr. Cash .................................. xxx
Dr. Operational Expenses .......... xxx Cr. Cash .................................. xxx
Dr. Cash ...................................... xxx Cr. Prive ................................ xxx
If income > expenses in one period, what is the impact on equity:
Equity increases
Equity decreases
Equity remains
Does not affect equity
In the statement of changes in capital, the correct order is:
Initial capital - prive - profit/loss = final capital
Initial capital + prive - profit/loss = final capital
Initial capital + profit/loss - prive = final capital
Initial capital + expenses + prive = final capital
The company earns a net profit of Rp20,000,000 and the owner withdraws prive of Rp5,000,000. If the initial capital is Rp50,000,000, what is the final capital:
Rp65,000,000
Rp55,000,000
Rp70,000,000
Rp75,000,000
In a partnership company, equity accounts are usually distinguished into:
Joint capital
Owner's capital and investor's capital
Each partner's capital
Collective capital
In a sole proprietorship, the main components of equity are:
Share capital and retained earnings
Owner's capital and prive
Partner's capital and common stock
Dividends and paid-in capital
Equity will increase if:
Expenses increase
Prive increases
Net profit
Purchase of fixed assets
In a limited liability company (LLC), the owner's withdrawal of profit is done through:
Prive
Dividends
Retained earnings
Director's salary
The retained earnings account in an LLC shows:
All invested capital
Total available assets
Accumulated profits not distributed
Number of shares outstanding
If the net loss in the current period is Rp10,000,000 and prive is Rp5,000,000, then equity:
Increases by Rp15,000,000
Decreases by Rp15,000,000
Remains unchanged
Increases by Rp5,000,000
The report that describes changes in equity during the accounting period is called:
Income Statement
Balance Sheet
Cash Flow Statement
Statement of Changes in Capital
In the statement of changes in capital, if there is a net loss, then:
Added to initial capital
Deducted from initial capital
No effect
Stored in cash
Final capital can be calculated using the formula:
Initial capital + prive - profit
Initial capital + income + prive
Initial capital + profit - prive
Initial capital - income - prive
Cash dividends distributed by the company will:
Reduce assets and equity
Increase equity
Increase income
Add long-term debt
In a limited liability company, the initial capital deposit by shareholders is recorded in the account:
Prive Capital
Owner's Capital
Share Capital
Investment Capital
