Please read carefully before you answer the question!

At the beginning of July 2009, Michael launched a custom computer programming company called
SOFTWAYS. The company had the following transactions during July 2009: (in thousand)
July 1 : Michael invested Rp 100.000,00 cash, office equipment with a value of Rp 36.000,00 and
Rp 24.000,00 of computer equipment in the company.
July 2 : Purchased land worth Rp 150.000,00 for an office by paying Rp 40.000,00 cash and
signing a long term note payable for Rp 110.000,00
July 4 : Purchased a portable building with Rp 18.000,00 cash and moved it onto the land
acquired at July 2.
July 6 : Paid Rp 6.000,00 cash for the premium on a two-year insurance policy.
July 7 : Provided services to a client and collected Rp 32.000,00 cash.
July 9 : Purchased Rp 35.000,00 of additional computer equipment by paying Rp 7.000,00 cash
and signing a long term note payable for Rp 28.000,00
July 10 : Completed Rp 17.500,00 of services for a client on credit.
July 11 : Purchased Rp 1.500,00 of additional office equipment on credit.
July 13 : Completed client services for Rp 42.000,00 on credit.
July 14 : Michael got the tender from one of multinational company. The services must be done for
three (3) month. When Michael sign a contract, he received 30% from the total of the
project with value Rp 300.000,00
July 15 : Paid Rp 9.000,00 of wages to an assistant for a half period in July.
July 16 : Paid Rp 18.000,00 cash for three months rent of computer testing device that was used
for the project (signed at July 14).
July 17 : Collected Rp 42.000,00 cash from the client who billed at July 13.
July 20 : Purchased Rp 3.500,00 of office supply on cash.
July 21 : Paid Rp 1.500,00 cash to settle the account payable at July 11.
July 22 : Michael withdrew Rp 7.500,00 cash for personal use.
July 24 : Paid 12.000,00 cash for advertisements in the local newspaper for July until September (9
times).
July 30 : Paid Rp 5.000,00 for miscellaneous expenses.

REQUIRED:
1. Prepare the accounting equation from transaction during July 2009!
2. Prepare general journal entries for transaction during July 2009!
3. Posting all journal entries to General Ledger (use T account)!
4. Prepare the Trial Balance for 30 July 2009 based on your general ledger in worksheet provided!
5. Data for adjusting entries on 30 July 2009 are as follows :

a. Estimated usage for Office equipment and computer equipment is 4 years with salvage value
Rp 3.600,00 for office equipment and Rp 2.400,00 for computer equipment.
b. Estimated usage for building is 20 years with salvage value Rp 30.000,00
c. The interest for notes payable was signed at July 2 and 9 is 18% pa.
d. The insurance was expired in July is Rp 2.750,00
e. Unearned revenue was expired during July is 15% from the 30% he got.
f. Wages accrued on July is Rp 20.000,00
g. Rent expense was expired during July is Rp 1.400,00
h. Office supply on hand at July 30 is Rp 2.250,00
i. The advertisement was expired during July for 3 times.
6. Prepare worksheet for July 30, 2009!
7. Prepare Financial Statement (Income Statement, Statement of Owners Equity, Balance Sheet) for
July 30, 2009!
8. Prepare Closing Entries and Post Closing Trial Balance for 30 July 2009.

TRIAL BALANCE
NO

DESCRIPTION

DR

CR

ADJUSTED ENTRIES
DR

CR

ADJUSTED TRIAL
BALANCE
DR
CR

INCOME
STATEMENT
DR
CR

BALANCE SHEET
DR

CR