Accounting Practice 3.

1 IPH Schools 2020/2021

Asep Sunarya is the owner and operatorof Pasti Sukses, a motivational consulting business. At the end of its
Question 1 period, December 31, 2010, Pasti Sukses has assets of Rp800.000.000 and liabilities of
accounting
Rp350.000.000. using the accounting equation, determine the following amounts:
a. owners equity, as of december 31, 2010
b. Owners equity, as of December 31,2011, assuming that assets increased by Rp130.000.000 and liabilities decreased by Rp25.000.000 during 2011
Johan Marpaung, Attorney-at-Law, is a proprietorship owned and operated by Johan Marpaung on July 1, 2010.
Johan Marpaung, Attorney-at-Law, has the following assets and liabilities: Cash $1000; Accounts Receivable,
Question 2
$3200; Supplies, $850; Land, $10.000: Accounts Payable, $1530. Office space and office equipment are currently
being rented, pending the construction of an office complex on land purchased last year.
Business transactions during July are summarized as follows:
a. Received cash from clients for services, $3,928
b. Paid creditors on account, $1,055
c. Received cash from Johan Marpaung as an additional investment, $3,700
d. Paid office rent for the month, $1,200
e. Charge clients for legal services on account, $2,025
f. Purchased office supplies on account, $245
g. Received cash from clients on account $3000

1.
2. Determine the amount
State the asset, of owner's
liabilities equityequity
ans owners (Johan as
Marpaung's Capital)
of July 1 in as ofform
equation July 1,similar
2010 to that shown, answer your
transaction in answer sheet attached.
Schools 2020/2021

000.000 during 2011

No Date
Asset = Liabilities
Cash Accounts Supplies Equipment Land Account Payable
Receivable
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
$ - $
+ Equity
Owners Capital Owners Revenues Expenses
Withdrawal

#NAME? #NAME? #NAME? #NAME?

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