ACE CORPORATION

GENERAL JOURNAL
Dec-22
DATE DESC REFF DEBIT CREDIT
31 Doubtful Accounts Expense Rp 193,271
Allowance for Doubtful Debts Rp 193,271
(AJE)
31 Depreciation Expense - Building Rp 2,000
Acc. Depreciation Expense - Building Rp 2,000
Depreciation Expense - Vehicle Rp 1,500
Acc. Depreciation Expense - Vehicle Rp 1,500
Depreciation Expense - Equipment Rp 1,000
Acc. Depreciation Expense - Vehicle Rp 1,000
(AJE)
31 Insurance Expense Rp 1,200
Prepaid insurance Rp 1,200
(AJE)
31 Office Supplies Expense Rp 4,340
Office Supplies Rp 4,340
(AJE)
31 Rent Expense Rp 1,300
Prepaid Rent Rp 1,300
(AJE)
TOTAL Rp 204,611 Rp 204,611
 ACE CORPORATION
ADJUSTING TRIAL BALANCE
Dec-22
No Account Debit Credit
1111 Cash In Bank Rp 705,972 Rp -
1112 Petty Cash Rp 1,000 Rp -
1121 Current Investment Rp 85,000 Rp -
1131 Accounts Receivable Rp 555,335 Rp -
1132 Allowance for Doubtful Debts Rp - Rp 199,685
1139 Other Receivable Rp 800 Rp -
1141 Merchandise Inventory Rp 141,280 Rp -
1142 Office Supplies Rp 1,000 Rp -
1151 Value Added Taxes – In Rp 26,985 Rp -
1152 Prepaid Income Tax Rp 9,566 Rp -
1153 Prepaid Insurance Rp 5,589 Rp -
1154 Prepaid Rent Rp 11,850 Rp -
1201 Stock Investment Rp 160,000 Rp -
1202 Obligasi Investment Rp 70,000 Rp -
1311 Land Rp 112,326 Rp -
1312 Building Rp 167,000 Rp -
1322 Accumulated Depreciation - Building Rp 29,400
1313 Vehicle Rp 86,456 Rp -
1323 Accumulated Depreciation - Vehicle Rp - Rp 40,978
1314 Equipment Rp 19,853 Rp -
1324 Accumulated Depreciation – Rp - Rp 9,927
2101 Equipment
Accounts Payable Rp - Rp 286,286
2103 Value Added Tax - Out (VAT - Out) Rp - Rp 53,435
2105 Income Tax Payable - PPh 21 Rp - Rp 1,675
2109 Other Payable Rp - Rp 3,156
2201 Bank Loan Rp - Rp 119,000
2203 Hypotic Payable Rp - Rp 70,000
3001 Common Stock Rp - Rp 200,000
3002 Retained Earnings Rp - Rp 110,190
4101 Sales Rp - Rp 4,831,770
4102 Sales Returns Rp 79,605 Rp -
4103 Sales Discounts Rp 42,222 Rp -
4201 Interest Revenue Rp - Rp 9,852
4203 Dividend Revenue Rp - Rp 800
4202 Gain or Loss on sale Marketable Rp - Rp 17,250
4204 Securities
Gain or Loss on sale fixed asset Rp - Rp 720
5101 Cost of Goods Sold Rp 2,925,493 Rp -
5102 Purchase Discount Rp - Rp 55,252
5211 Advertising expense Rp 220,190 Rp -
5212 Wages & Salaries Expense -Sales Rp 140,200 Rp -
5216 Sales Service Rp 63,450 Rp -
5217 Transportation Expense Rp 7,320 Rp -
5218 Toll Ticket Expense Rp 2,476 Rp -
5251 Wages & Salaries Expense Rp 93,200 Rp -
5252 (Administrative)
Electricity, Water & Telephone Expense Rp 14,575 Rp -
5253 Newspaper and Magazine Expense Rp 1,700 Rp -
5257 Maintenance Expense Rp 11,700 Rp -
5258 Accommodation Expense Rp 32,100 Rp -
5262 Entertainment Expense Rp 11,224 Rp -
5263 Postage and stamp Expense Rp 1,813 Rp -
5264 Social Expense Rp 5,130 Rp -
5265 Doubtful Accounts Expense Rp 193,271 Rp -
5266 Depreciation Expense - Building Rp 2,000 Rp -
5267 Depreciation Expense - Vehicle Rp 1,500 Rp -
5268 Depreciation Expense - Equipment Rp 1,000 Rp -
5269 Insurance Expense Rp 1,200 Rp -
5270 Office Supplies Expense Rp 4,340 Rp -
5271 Rent Expense Rp 1,300 Rp -
5301 Interest Expense Rp 19,820 Rp -
5302 Bank Charges Rp 2,535 Rp -
TOTAL Rp 6,039,376 Rp 6,039,376
 ACE CORPORATION
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2022
Sales Rp 4,831,770
Sales Returns Rp 79,605
Sales Discounts Rp 42,222
Net Sales Rp 4,709,943
Cost Of Goods Sold Rp 2,870,241
Gross Profit Rp 1,839,702
Operating Expenses
Selling Expenses:
Advertising expense Rp 220,190
Wages & Salaries Expense -Sales Rp 140,200
Sales Service Rp 63,450
Office Supplies Expense Rp 4,340
Total Selling Expense Rp 428,180
Administrative Expenses:
Transportation Expense Rp 7,320
Toll Ticket Expense Rp 2,476
Wages & Salaries Expense Rp 93,200
(Administrative)
Electricity, Water & Telephone Expense Rp 14,575
Newspaper and Magazine Expense Rp 1,700
Maintenance Expense Rp 11,700
Accommodation Expense Rp 32,100
Entertainment Expense Rp 11,224
Postage and stamp Expense Rp 1,813
Social Expense Rp 5,130
Doubtful Accounts Expense Rp 193,271
Depreciation Expense - Building Rp 2,000
Depreciation Expense - Vehicle Rp 1,500
Depreciation Expense - Equipment Rp 1,000
Insurance Expense Rp 1,200
Rent Expense Rp 1,300
Total Administrative Expenses Rp 381,509
Total Operating Expenses Rp 809,689
Income from Operations Rp 1,030,013
Other Revenue and Gains Rp 9,852
Interest Revenue Rp 800
Dividend Revenue Rp 17,250
Gain or Loss on Sale Marketable Securities Rp 720
Gain or Loss on Sale Fixed Asset
Total Other Revenue and Gains Rp 28,622
Other Expenses and Loses Rp 19,820
Interest Expense Rp 2,535
Bank Charges
 Total Other Expenses and Loses Rp 22,355
Net Income Rp 1,036,280
n
 ACE CORPORATION
STATEMENTS OF CHANGES IN EQUITY
For The Year Ended December 31, 2022
Description Common Stock Retained Earning Total
Balance at 1 December 2022 Rp 200,000 Rp 110,190 Rp 310,190
Net Income Rp 1,036,280 Rp 1,036,280
Balance at 31 December 2022 Rp 200,000 Rp 1,146,470 Rp 1,346,470
 ACE CORPORATION
BALANCESHEET
AS AT DECEMBER 2022
ASSETS
Current Assets:
Cash In Bank Rp 705,972
Petty Cash Rp 1,000
Current Investment Rp 85,000
Accounts Receivable Rp 555,335
Less: Allowance for Doubtful Debts Rp (199,685)
Rp 355,650
Other Receivable Rp 800
Merchandise Inventory Rp 141,280
Office Supplies Rp 1,000
Value Added Taxes – In Rp 26,985
Prepaid Income Tax Rp 9,566
Prepaid Insurance Rp 5,589
Prepaid Rent Rp 11,850
Stock Investment Rp 160,000
Obligasi Investment Rp 70,000
Total Current Assets Rp 1,574,692
Fixed Assets:
Land Rp 112,326
Building Rp 167,000 Rp -
Accumulated Depreciation - Building Rp (29,400)
Rp 137,600
Vehicle Rp 86,456 Rp -
Accumulated Depreciation - Vehicle Rp (40,978)
Rp 45,478
Equipment Rp 19,853 Rp -
Accumulated Depreciation – Rp (9,927)
Equipment Rp 9,926
Total Fixed Assets Rp 305,330
TOTAL ASSETS Rp 1,880,022
CORPORATION
ANCESHEET
DECEMBER 2022
LIABILITIES & EQUITY
LIABILITIES
Current Liabilities:
Accounts Payable Rp 286,286
Value Added Tax - Out (VAT - Out) Rp 53,435
Income Tax Payable - PPh 21 Rp 1,675
Other Payable Rp 3,156
Total Current Liabilities Rp 344,552
Long-term Liabilities:
Bank Loan Rp 119,000
Hypotic Payable Rp 70,000
Total Long-Term Liabilities Rp 189,000
Total Liabilities Rp 533,552

EQUITY
Retained Earnings Rp 1,146,470
Common Stock Rp 200,000
Total Equity Rp 1,346,470

TOTAL LIABILITIES & EQUITY Rp 1,880,022

Net Income Rp 1,036,281
Accounts Receivable Rp (355,335) Rp (503,963)
Allowance for Doubtful Debts Rp 193,585
Other Receivable Rp (600)
Merchandise Inventory Rp (19,280)
Office Supplies Rp 1,000
Value Added Taxes - In Rp (16,985)
Prepaid Income Tax Rp (4,366)
Prepaid Insurance Rp 1,411
Prepaid Rent Rp 2,150
Accumulated Depreciation - Building Rp 2,900
Accumulated Depreciation - Vehicle Rp 2,478
Accumulated Depreciation – Rp 2,927
Equipment
Accounts Payable Rp (133,714)
Value Added Tax - Out (VAT - Out) Rp 33,335
Income Tax Payable - PPh 21 Rp (125)
Other Payable Rp (1,344)
Bank Loan Rp (212,000)
Retained Earnings Rp (216,345)
Rp 315,973
Rp 705,973
 ACE CORPORATION
CASH FLOW
December 31, 2022
Cash from Operating Activities
Net Income Rp 1,036,281
Accounts Receivable Rp (355,335)
Allowance for Doubtful Debts Rp 193,585
Other Receivable Rp (600)
Merchandise Inventory Rp (19,280)
Office Supplies Rp 1,000
Value Added Taxes - In Rp (16,985)
Prepaid Income Tax Rp (4,366)
Prepaid Insurance Rp 1,411
Prepaid Rent Rp 2,150
Accumulated Depreciation - Building Rp 2,900
Accumulated Depreciation - Vehicle Rp 2,478
Accumulated Depreciation – Rp 2,927
Equipment
Accounts Payable Rp (133,714)
Value Added Tax - Out (VAT - Out) Rp 33,335
Income Tax Payable - PPh 21 Rp (125)
Other Payable Rp (1,344)
Total Cash from Operating Activities Rp 744,318

Cash from Investing Activities

- Rp - Rp -

Cash from Financing Activities

Bank Loan Rp (212,000)
Retained Earnings Rp (216,345)
Total Cash from Financing Activities Rp (428,345)
Rp 315,973
Cash on December 31,2021 Rp 390,000
Cash on December 31,2022 Rp 705,973
 ACE CORPORATION
GENERAL JOURNAL
Dec-22
Date Description Reff Debit
Dec-31 Sales 4101 Rp 4,831,770
Interest Revenue 4201 Rp 9,852
Dividend Revenue 4203 Rp 800
Gain or Loss on sale Marketable 4202 Rp 17,250
Securities
Gain or Loss on sale fixed asset 4204 Rp 720
Income Summary 3004
(Closing Entries)
Dec-31 Income Summary 3004 Rp 3,824,111
Sales Returns 4102
Sales Discounts 4103
Cost Of Goods Sold 5101
Advertising expense 5211
Wages & Salaries Expense -Sales 5212
Sales Service 5216
Transportation Expense 5217
Toll Ticket Expense 5218
Wages & Salaries Expense 5251
(Administrative)
Electricity, Water & Telephone Expense 5252
Newspaper and Magazine Expense 5253
Maintenance Expense 5257
Accommodation Expense 5258
Entertainment Expense 5262
Postage and stamp Expense 5263
Social Expense 5264
Doubtful Accounts Expense 5265
Depreciation Expense - Building 5266
Depreciation Expense - Vehicle 5267
Depreciation Expense - Equipment 5268
Insurance Expense 5269
Office Supplies Expense 5270
Rent Expense 5271
Interest Expense 5301
Bank Charges 5302
(Closing Entries)
Dec-31 Income Summary 3004 Rp 1,036,281
Retained Earnings 3002
(Closing Entries)
TOTAL Rp 9,720,784
 Credit

Rp 4,860,392

Rp 79,605
Rp 42,222
Rp 2,870,241
Rp 220,190
Rp 140,200
Rp 63,450
Rp 7,320
Rp 2,476
Rp 93,200
Rp 14,575
Rp 1,700
Rp 11,700
Rp 32,100
Rp 11,224
Rp 1,813
Rp 5,130
Rp 193,270
Rp 2,000
Rp 1,500
Rp 1,000
Rp 1,200
Rp 4,340
Rp 1,300
Rp 19,820
Rp 2,535

Rp 1,036,281

Rp 9,720,784
 ACE CORPORATION
TRIAL BALANCE AFTER CLOSING
Dec-22
No Account Debit Credit
1111 Cash In Bank Rp 705,972 Rp -
1112 Petty Cash Rp 1,000 Rp -
1121 Current Investment Rp 85,000 Rp -
1131 Accounts Receivable Rp 555,335 Rp -
1132 Allowance for Doubtful Debts Rp - Rp 199,685
1139 Other Receivable Rp 800 Rp -
1141 Merchandise Inventory Rp 141,280 Rp -
1142 Office Supplies Rp 1,000 Rp -
1151 Value Added Taxes – In Rp 26,985 Rp -
1152 Prepaid Income Tax Rp 9,566 Rp -
1153 Prepaid Insurance Rp 5,589 Rp -
1154 Prepaid Rent Rp 11,850 Rp -
1201 Stock Investment Rp 160,000 Rp -
1202 Obligasi Investment Rp 70,000 Rp -
1311 Land Rp 112,326 Rp -
1312 Building Rp 167,000 Rp -
1322 Accumulated Depreciation - Building Rp 29,400
1313 Vehicle Rp 86,456 Rp -
1323 Accumulated Depreciation - Vehicle Rp - Rp 40,978
1314 Equipment Rp 19,853 Rp -
1324 Accumulated Depreciation – Rp - Rp 9,927
2101 Equipment
Accounts Payable Rp - Rp 286,286
2103 Value Added Tax - Out (VAT - Out) Rp - Rp 53,435
2105 Income Tax Payable - PPh 21 Rp - Rp 1,675
2109 Other Payable Rp - Rp 3,156
2201 Bank Loan Rp - Rp 119,000
2203 Hypotic Payable Rp - Rp 70,000
3001 Common Stock Rp - Rp 200,000
3002 Retained Earnings Rp - Rp 1,146,470
TOTAL Rp 2,160,012 Rp 2,160,012
Account : Cash in Bank No. Acc : 1111
Debit Credit
12/1/2022 Debit
Balance Debit

Account : Other Receivable No. Acc : 1139

Debit Credit
12/1/2022 Rp -
Balance Rp -

Account : Prepaid Insurance No. Acc : 1153

Debit Credit
12/1/2022 Rp 9,566 12/31/2022 Rp -
Total Debit Rp 9,566 Total Credit Rp -
Balance Rp 9,566

Account : Building No. Acc : 1312

Debit Credit
12/1/2022 Rp 112,326
Balance Rp 112,326

Account : Accum. Depr. - Equipment No. Acc : 1324

Debit Credit
12/1/2022 Rp -
12/31/2022 Rp -
Total Credit Rp -
 Balance Rp -

Account : Bank Loan No. Acc : 2201

Debit Credit
12/1/2022 Rp 3,156
Balance Rp 3,156

Account: Sales No. Acc:

Debit Credit
12/31/2022 4831770 12/1/2022 4831770
Balance 0

Account : Gain or Loss on Sale Marketable Securities No. Acc : 4202

Debit Credit
12/31/2022 Rp 17,250 12/1/2022 Rp 17,250
Balance Rp -

Account : Advertising Expense No. Acc : 5211

Debit Credit
12/1/2022 Rp 220,190 12/31/2022 Rp 220,190
Balance Rp -

Account : Toll Ticket Expense No. Acc : 5218

Debit Credit
12/1/2022 Rp 2,476 12/31/2022 Rp 2,476
Balance Rp -

Account : Maintenance Expense No. Acc : 5257

 Debit Credit
12/1/2022 Rp 11,700 12/31/2022 Rp 11,700
Balance Rp -

Account : Social Expense No. Acc : 5264

Debit Credit
12/1/2022 Rp 5,130 12/31/2022 Rp 5,130
Balance Rp -

Account : Depreciation Expense - Equipment No. Acc : 5268

Debit Credit
12/1/2022 Rp 1,000 12/31/2022 Rp 1,000
Balance Rp -

Account : Interest Expense No. Acc : 5301

Debit Credit
12/1/2022 Rp 19,820 12/31/2022 Rp 19,820
Balance Rp -
 ACE CO
GENER
Decem

Account : Petty Cash No. Acc : 1112

Debit Credit
12/1/2022 Rp 705,972
Balance Rp 705,972

Account : Merchandise Inventory No. Acc : 1141

Debit Credit
12/1/2022 Rp 800
Balance Rp 800

Account : Prepaid Rent No. Acc : 1154

Debit Credit
12/1/2022 Rp 6,789 12/31/2022 Rp -
Total Debit Rp 6,789 Total Credit Rp -
Balance Rp 6,789

Account : Accum. Depr. - Building No. Acc : 1322

Debit Credit
12/1/2022 Rp -
12/31/2022 Rp -
Total Credit Rp -
Balance Rp -

Account : Accounts Payable No. Acc : 2101

Debit Credit
12/1/2022 Rp 8,927
Balance Rp 8,927
Account : Hypotic Payable No. Acc : 2203
Debit Credit
12/1/2022 Rp 119,000
Balance Rp 119,000

Account : Sales Return No. Acc : 4102

Debit Credit
12/1/2022 Rp 79,605 12/31/2022 Rp 79,605
Balance Rp -

Account : Gain or Loss on Sale Fixed Asset No. Acc : 4204

Debit Credit
12/31/2022 Rp 720 12/1/2022 Rp 720
Balance Rp -

Account : Wages & Salaries Expense -Sales No. Acc : 5212

Debit Credit
12/1/2022 Rp 140,200 12/31/2022 Rp 140,200
Balance Rp -

Account : Wages & Salaries Expense (Administrative)No. Acc : 5251

Debit Credit
12/1/2022 Rp 93,200 12/31/2022 Rp 93,200
Balance Rp -

Account : Accommodation Expense No. Acc : 5258

 Debit Credit
12/1/2022 Rp 32,100 12/31/2022 Rp 32,100
Balance Rp -

Account : Doubtful Accounts Expense No. Acc : 5265

Debit Credit
12/1/2022 Rp 193,271 12/31/2022 Rp 193,271
Balance Rp -

Account : Insurance Expense No. Acc : 5269

Debit Credit
12/1/2022 Rp 1,200 12/31/2022 Rp 1,200
Balance Rp -

Account : Bank Charges No. Acc : 5302

Debit Credit
12/1/2022 Rp 2,535 12/31/2022 Rp 2,535
Balance Rp -
 ACE CORPORATION
GENERAL LEDGER
December, 2022

Account : Current Investment No. Acc : 1121

Debit Credit
12/1/2022 Rp 1,000
Balance Rp 1,000

Account : Office Supplies No. Acc : 1151

Debit Credit
12/1/2022 Rp 141,280 12/31/2022 Rp -
Total Debit Rp 141,280 Total Credit Rp -
Balance Rp 141,280

Account : Stock Investment No. Acc : 1201

Debit Credit
12/1/2022 Rp 13,150
Balance Rp 13,150

Account : Vehicle No. Acc : 1313

Debit Credit
12/1/2022 Rp -
Balance Rp -

Account : Value Added Tax - Out No. Acc : 1111

Debit Credit
12/1/2022 Rp 286,286
Balance Rp 286,286
Account : Common Stock No. Acc : 3001
Debit Credit
12/1/2022 Rp 70,000
Balance Rp 70,000

Account : Sales Discounts No. Acc : 4103

Debit Credit
12/1/2022 Rp 42,222 12/31/2022 Rp 42,222
Balance Rp -

Account : Cost Of Goods Sold No. Acc : 5101

Debit Credit
12/1/2022 Rp 2,925,493 12/31/2022 Rp 2,925,493
Balance Rp -

Account : Sales Service No. Acc : 5216

Debit Credit
12/1/2022 Rp 63,450 12/31/2022 Rp 63,450
Balance Rp -

Account : Electricity, Water & Telephone Expense No. Acc : 5252

Debit Credit
12/1/2022 Rp 14,575 12/31/2022 Rp 14,575
Balance Rp -

Account : Entertainment Expense No. Acc : 5262

 Debit Credit
12/1/2022 Rp 11,224 12/31/2022 Rp 11,224
Balance Rp -

Account : Depreciation Expense - Building No. Acc : 5266

Debit Credit
12/1/2022 Rp 2,000 12/31/2022 Rp 2,000
Balance Rp -

Account : Office Supplies Expense No. Acc : 5270

Debit Credit
12/1/2022 Rp 4,340 12/31/2022 Rp 4,340
Balance Rp -
Account : Accounts Receivable No. Acc : 1131
Debit Credit
12/1/2022 Rp 85,000
Balance Rp 85,000

Account : Value Added Taxes - In No. Acc : 1151

Debit Credit
12/1/2022 Rp 5,340
Balance Rp 5,340

Account : Obligasi Investment No. Acc : 1202

Debit Credit
12/1/2022 Rp 160,000
Balance Rp 160,000

Account : Accum. Depr. - Vehicle No. Acc : 1323

Debit Credit
12/1/2022 Rp -
12/31/2022 Rp -
Total Credit Rp -
Balance Rp -

Account : Income Tax Payable - PPh 21 No. Acc : 2105

Debit Credit
12/1/2022 Rp 53,435
Balance Rp 53,435
Account : Retained Earnings No. Acc : 3002
Debit Credit
12/1/2022 Rp 200,000
12/31/2022 Rp -
Total Credit Rp 200,000
Balance Rp 200,000

Account : Interest Revenue No. Acc : 4201

Debit Credit
12/31/2022 Rp 9,852 12/1/2022 Rp 9,852
Balance Rp -

Account : Purchase Discounts No. Acc : 5102

Debit Credit
12/31/2022 Rp 55,252 12/1/2022 Rp 55,252
Balance Rp -

Account : Transportation Expense No. Acc : 5217

Debit Credit
12/1/2022 Rp 63,450 12/31/2022 Rp 63,450
Balance Rp -

Account : Newspaper and Magazine Expense No. Acc : 5253

Debit Credit
12/1/2022 Rp 1,700 12/31/2022 Rp 1,700
Balance Rp -

Account : Postage and Stamp Expense No. Acc : 5263

 Debit Credit
12/1/2022 Rp 1,813 12/31/2022 Rp 1,813
Balance Rp -

Account : Depreciation Expense - Vehicle No. Acc : 5267

Debit Credit
12/1/2022 Rp 1,500 12/31/2022 Rp 1,500
Balance Rp -

Account : Rent Expense No. Acc : 5271

Debit Credit
12/31/2022 Rp 1,300 12/31/2022 Rp 1,300
Balance Rp -
Account : Allowance for Doubtf No. Acc : 1132
Debit Credit
### Rp -
### Rp -
Total Credi Rp -
Balance Rp -

Account : Prepaid Income Tax No. Acc : 1152

Debit Credit
### Rp 26,985
Balance Rp 26,985

Account : Land No. Acc : 1311

Debit Credit
### Rp 70,000
Balance Rp 70,000

Account : Equipment No. Acc : 1314

Debit Credit
### Rp -
Balance Rp -

Account : Other Payable No. Acc : 2109

Debit Credit
### Rp 1,675
Balance Rp 1,675
Account : Income Summary No. Acc : 3003
Debit Credit
### Rp - ### Rp -
### Rp -
Total Debit Rp - Total Credi Rp -
Balance Rp -

Account : Dividend Revenue No. Acc : 4202

Debit Credit
### Rp 800 ### Rp 800
Balance Rp -