PT DEF has the following accounts
Equipment Rp 10,000
Salary payable Rp 15,000
Interest receivable Rp 13,000
Prepaid insurance Rp 9000
Rent received in advance Rp 7,000
Interest payable Rp 23,000
i. Based on physical calculations, the equipment owned by the company as of December 31, 2020 was Rp 7,900.
ii. Employee salaries that have not been paid as of December 31, 2020 are Rp. 25,800.
iii. Interest still to be received from the bond investment is Rp 9,000.
iv. The remaining insurance as of December 31, 2020 is IDR 3,000
v. On January 1, 2020, PT ABC received a rental payment of Rp 10,000 and recorded it as rental income.
vi. The depreciation expense that should have been recorded at Rp 6,500 by the company was recorded at Rp 5,600.

Requested:
a. Journalize the errors that occur at PT ABC if the financial statements have not been closed.
b. Journalize the errors that occur at PT ABC when the financial statements are closed.

Answer rating: 100% (QA)

Solution 1 Correction Entry Date Description Debit Credit i Dec 31 2020 Income Statement 10000 7900 ... View the full answer