Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

MOJAKOE
AKUNTANSI KEUANGAN
LANJUTAN
UAS AKUNTANSI KEUANGAN
LANJUTAN 2012/2013
Accounting Study Division

Semester Gasal 2012 / 2013

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

SOAL
PROBLEM 1
On January 2, 2011, United States Game Company (USG Co), has taken over
80% of the ownership of Game for Like (GFL) in India for INR 2,000,000 (Indian
Rupee). GFL is still using Rupee for their book-keeping and their book has been
adjusted to the US GAAP.
This is the information of exchange rate INR and US$ :
Date
Spot Rate
January 2
$ 0.150
September 1
$ 0.160
December 31
$ 0.170
Average for 4th
$ 0.165
quarter
Average for the year
$ 0.156
Income and expense are generating and charging during the year. The
company is using FIFO method for their inventory valuation and ending
inventory was from the fourth quarter purchased. Dividend payment for
300.000 rupee, it was declared and paid on September 1. On January 2, 2011,
the statement of financial position of GFL Co as follows : (rupee)
Asset
Monetary Assets

1,100,0
00

Non Monetary Asset

Inventory

760,000

Fixed Asset

1,680,0
00
3,540,0
00

Total

Liabilities and Stockholders

Equity
Monetary Liabilities
1,800,0
00
Share Capital Ordinary
960,00
0
Share Premium Ordinary
300,00
0
Retained Earning
480,00
0
Total
3,540,0
00

The following information is the balance of accounts in ledger of GFL Co which

is stated in INR
Items

Dr.

Sales
Cost of Goods Sold
Depreciation Expenses
Other Expenses

1,850,000
100,000
655,000

Semester Gasal 2012 / 2013

Cr.
3,020,000

Presented by : Accounting Study Division

Income Tax Expenses

Dividends
Cash
Accounts Receivable
Inventories
Land
Buildings
Equipment
Account Payable
Short-term Notes
Payable
Bonds Payable
Share Capital Ordinary
Share Premium
Ordinary
Retained Earning Awal

MoJaKoe Akuntansi Keuangan Lanjutan

82,000
300,000
930,000
608,000
830,000
500,000
650,000
430,000
640,000
635,000
900,000
960,000
300,000

6,935,00
0

480,000
6,395,00
0

Required :
1. Based on the above mention informatio, what is the proper method to
convert the financial statement of GFL Co? Please Explain.
2. Prepare the ledger in US $ currency
3. Compute the proof calculation of point 2
PROBLEM 2
Mega Corporation reports the following information for 2012 for its operating
segments (in Rp mio)
Operating
Segment

Sales to
third party

Traceable
Segment
Segment
operating
Profit (loss)
Asset
expense
A
1,300
200
1,000
?
400
B
1,000
200
600
?
125
C
85
50
?
60
D
500
100
450
?
740
E
125
25
100
?
50
Total
3,010
525
2,200
1,375
Total indirect operating expenses for 2012 is Rp 900 mio. Indirect Operating
expenses are allocated to segments based upon the ratio of each segments
traceable operating expenses to total traceable operating expenses.
Required :

Semester Gasal 2012 / 2013

Intercompa
ny Sales

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

Using the appropriate tests, determine which of the industry segments listed
above are reportable for 2012. Show your supporting computation in a good
form.
PROBLEM 3 PT Samudera is owned 90% of PT. Palapa. The following financial information is
for both companies :
The balance of Investment in PT Samudera on PT Palapas book in
January 1, 2012 was Rp 288 billion which consist of equity in PT.
Samudera and Goodwill for Rp 18 billion.
As per january 1, 2012 the stockholders equity of PT Samudera consists
of Share Capital Ordinary of Rp 200 billion and Retained Earnings of Rp
100 billion.
During the year of 2012, PT Samudera was generating of smoothing
income of 36 billion (assuming Rp 3 billion per month)
On July 1, 2012, PT Samudera was declared and paid dividend for Rp 20
billion.
PT. Palapa sold 10% of their share in PT Samudera on April 1, 2012, for
Rp 40 billion
Required:
Prepare the journal entry of PT. Palapa for 2010 to record the following
transactions :
1. Recognize the first quarter income from PT Samudera 2012 ( April 1,
2012 )
2. Sell 10% ownership of PT Samudera to another party.
3. Receive dividend from PT Samudera on July 1, 2012
4. Recognize income from the remaining 3 quarters 2012
5. Prepare journal elimination entries in order to prepare consolidation
reporting of PT. Palapa.
PROBLEM 4
On November 1, 2011, Fernandoz Company contracted to purchase tractors
from German for 50,000. The tractors were to be delivered on January 30,
2012, with payment due on March 1, 2012. On November 1, 2011, Fernandoz
Company entered into 120 days forward contract to receive 50,000 at
forward rate of 1 = $1.39. The forward contract was acquired to hedge the
financial component of the foreign currency commitment.
Additional information for the exhange rate as follows :
1. Assume the company uses the forward rate measuring the forward
exchange contract and for measuring hedge effectiveness
2. Sport and forward rate :

Semester Gasal 2012 / 2013

Presented by : Accounting Study Division

Date
November 1, 2011
December 31,
2011
January 30, 2012
March 1, 2012

MoJaKoe Akuntansi Keuangan Lanjutan

Spot Rate
1 =
$1.30
1 =
$1.33
1 =
$1.28
1 =
$1.27

Forward Rate
1 = $ 1.39 (120
days)
1 = $ 1.42 (60
days)
1 = 1.37 (30
days)

Required :
Prepare all journal entries from November 1, 2011, through March 1, 2012, for
purchase the forward contract, the foreign currency transactions and
settlement. Assume Fernandoz Companys fiscal year ends on December 31,
2011.
PROBLEM 5A
PT Kristal Pelita is experiencing financial difficulties as a result of the declining
customer orders due to economic downturn in 2012. At the end of December
2012, PT Kristal Pelita management held a meeting with PT Bankikir to arrange
the repayment of its debt (consists of Rp70,000,000,- Notes Payable and
Interest 10% p.a. for Rp7,000,000, which is due on December 30, 2012) to be
setteled on December, 2013.
For each of the following situations, you are required to prepare the journal
entries for PT. Kristal Pelita and PT Bankikir, if :
a. PT Bankikir agreed to received Rp 55,000,000,- inc cash to settle the
Notes and the accrued interest as well on December 31, 2012
b. PT Bankikir agreed to receive an equipment with original cost Rp
105,000,000,- accumulated depreciation Rp 30,000,000,- on December
31, 2012 which has been recently revalued at Rp 60,000,000,- settle
both the notes and its accured interest.
c. PT Bankikir agreed to extend the payment of the debt for one year,
reduce the interest rate to 3% and forgive Rp 3,000,000,- of the current
accrued interest (Hints: Present Value factor, 10%, 1 year is 1/1.1 =
0.909090..)
PROBLEM 5B
On december 31, 2012, PT Merana informed PT Permata that PT Merana would
not be able to repay its Rp 500,000,000 Notes Payable which is due on that
date, if there is no adjustment of the term of payable. PT. Merana also could
not pay the unpaid interest of 2010 and 2011, and asked for interest payment
forgiven.

Semester Gasal 2012 / 2013

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

The notes was issued in January, 2, 2007, with 12% interest rate per year, paid
each December 31. After a long discussion between PT Merana and PT
Permata, both companies agree to modify the term of the notes payable :
1. PT Merana will payback 90% of principal of the notes payable
2. PT Permata forgives the interest of the year 2010
3. PT Merana will continue to pay 12% interest until maturity date
4. The maturity date will be extended 1 years to December 31, 2013
Required :
Prepare the journal entries (if any) by PT Merana and PT Permata at :
December 31, 2012
December 31, 2013
Note :
PV Annuity 12%, 1 years : 0.89286

PEMBAHASAN
PROBLEM I Multinational Accounting
a. Local Currency
Functional Currency
Reporting Currency
Restatement Method

:
:
:
:

Rupee
Rupee
USD
Transalation

Parent, United States Game Company, melakukan pelaporan laporan

keuangan dalam mata uang USD. Akan tetapi, subsidiary berada di India
dan laporan keuangan dilaporkan dalam mata uang India. Dengan
demikian, untuk laporan konsolidasi, parent harus melakukan transalasi
atas laporan keuangan subsidiary; sehingga laporan keuangan tersebut
dinyatakan dalam dolar (USD).
b. Ledger in US$ Currency
Game Company & Subsidiary
Translation of Foreign Subsidiarys Trial Balance
December 31, 2011
Items
Balance,
Exchange
Balance,
INR
Rate, $
$
DEBIT
0.156
288.600
Cost of Goods Sold
1.850.000
Semester Gasal 2012 / 2013

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

Depreciation Expense

100.000

0.156

15.600

Other Expense

655.000

0.156

102.180

82.000

0.156

12.792

Dividend Paid

300.000

0.16

48.000

Cash

930.000

0.17

158.100

Account Payable

608.000

0.17

103.360

Inventories

830.000

0.17

141.100

Land

500.000

0.17

85.000

Building

650.000

0.17

110.500

Equipment

430.000

0.17

73.100

Income Tax Expense

1.138.332

TOTAL
CREDIT
3.020.000

0.156

471.120

Account Payable

640.000

0.17

108.800

Short-term Notes Payable

635.000

0.17

107.950

Bonds Payable

900.000

0.17

153.000

Share Capital Ordinary

960.000

0.15

144.000

Share Premium Ordinary

300.000

0.15

45.000

Retained Earning Awal

480.000

0.15

72.000

Sales

Accumulated OCI Translation

Adjust.
TOTAL
c. The proof calculation of point B.
Game Company & Subsidiary
Proof of Translation Adjustment
December 31, 2011
INR
Translation
Rate
Net Asset at Beginning of Year
1.740.00
0.15
Semester Gasal 2012 / 2013

36.462
1.138.33
2

$
261.00

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

Adjustment for changes in net asset

position during year :
Net Income for Year
Dividend Paid

333.000
(300.000)

0.156 51.984
0.16 (48.000
)

Net Asset Translated at :

Rates during year
Rates at end of year

1.773.00
0

Changes in OCI Net Translation

adjustment during the year
Accumulated OCI Translation
Adjustment (beginning)
Accumulated OCI Translation
Adjustment (ending)

0.17

264.94
8
301.41
0
36.462
0
36.462

PROBLEM II Segment and Interim Reporting

Untuk mengetahui apakah sebuah operating segment harus dilaporkan
terpisah dengan operating segment yang lain, harus melakukan 3 uji yaitu
10% of revenue test, 10% of profit (loss), dan 10% of net asset. Dalam
pengujian itu, kita juga harus mempertimbangkan pendapatan yang terjadi
antar segment maupun biaya yang terjadi antar segment (intracompany
revenue and expense).

10% Revenue Test

Operating segment

Segment revenue

A
B
C
D
E
10% Profit or Loss Test

Operating
segment
A
B
C
D
E

Segment
revenue
1.500
1.200
85
600
150

Semester Gasal 2012 / 2013

1.500
1.200
85
600
150

Segment
Expense
1.409,09
845,45
70,46
634,09
140,91

% of combined
revenue of $3.535
42.43%
33.95%
2.4%
16.97%
4.24%
Segment
profit
(loss)
90,91
354,55
14,54
(34,09)
9,09

% of
combined
revenue of
$469,09
19.38%
75.58%
3.038%
7.27%
1.94%

Reportable
Segment
YES
YES
NO
YES
NO

Reportable
Segment
YES
YES
NO
NO
NO

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

10% of Net Asset Test

Operating segment

Segment Asset

A
B
C
D
E

400
125
60
740
50

% of combined
revenue of $1.375
29.1%
9.09%
4.36%
53.81%
3.64%

Reportable
Segment
YES
YES
NO
YES
NO

Berdasarkan pengujian diatas, segment operasional yang harus dilaporkan

terpisah adalah segment operasional A, B, dan D.
PROBLEM III Additional Issue
(1)Recognize the first quarter income from Pt. Samudera
Investment in PT. Samudra
8.1 billion
Income from Investment
8.1 billion
(90% x 3 x Rp 3 billion)
(2)Sell 10% ownership of PT Samudera to another party
(3)Receive dividend from PT Samudera on July 01,2012
(4)Recognize income from the remaining 3 quarters 2012
(5)Prepare journal elimintaion entries in order to prepare consolidation
reporting
PROBLEM IV Hedging
01/11/2011 Foreign Currency Receivable ()
Dollar Payable to Exchange Broker ($)

69.500

31/12/2011 Foreign Currency Receivable ()

Foreign Currency Transaction Gain
(50.000 x ($1.42-1.39))

1.500

69.500
1.500

Foreign Currency Transaction Loss

Firm Commitment

1.500
1.500

30/01/2012 Foreign transaction loss

2.500
Foreign currency receivable exchange broker
50.000 x ($1,37 1,42)
Firm Commitment
Foreign Transaction Gain

2.500

Inventory
Account Payable
Firm Commitment

65.000

01/03/2012 Foreign Currency Transaction Loss

Foreign Currency Receivable
Semester Gasal 2012 / 2013

2.500

2.500
64.000
1.000
5.000
5.000

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

50.000 x ($1.37-$1.27)
Account Payable
Foreign Currency Transaction Gain
(0.01 x 50.000)

500

Dollar Payable to Broker

Cash
Account Payable
Foreign Currency Units

69.500

500

69.500
63.500
63.500

Foreign Currency Units

Foreign Currency Receivable

63.500
63.500

PROBLEM V Restructuring Debt

Problem 5A
a. Transfering cash Rp 55.000.000 for settlement of debt
Carrying Value of Debt :
o Principal
70.000.000
o Interest
7.000.000 77.000.000
Cash Flow
(55.000.000)
Restructuring Debt
22.000.000
PT. Kristal
Notes Payable
Accrued Interest
Payable
Cash

PT. Bankir

70.000.00
0
7.000.00
0

Cash

55.000.0
00
22.000.0
00

Gain on Restruct.
Debt

Allowance for
Uncollectible
Notes Receivable

55.000.0
00
22.000.0
00
70.000.0
00
7.000.00
0

Interest Receivable

b. Transfering equipment
Cost of Equipment
105.000.000
Accumulated Depreciation
(30.000.000)
Book Value of Equipment 75.000.000
Carrying Value of Debt :
o Principal
o Interest
Cash Flow
Restructuring Debt
PT. Kristal
Notes Payable
Accrued Interest
Payable
Accumulated
Depreciation

70.000.00
0
7.000.00
0
30.000.00
0

Semester Gasal 2012 / 2013

70.000.000
7.000.000 77.000.000
(60.000.000)
17.000.000
PT. Bankir
Equipment
Allowance for
Uncollectible
Notes Receivable

60.000.0
00
17.000.0
00
70.000.0
00

Presented by : Accounting Study Division

Loss on Disposal
Equip.
Equipment

15.000.00
0

MoJaKoe Akuntansi Keuangan Lanjutan

Interest Receivable

7.000.00
0

105.000.
000
17.000.0
00

Gain on Restruct.
Debt

c. Modified term of Debt

Debtor
Carrying Value of the Debt
o Principal
70.000.000
o Interest
7.000.000
Carrying Value of the Debt
77.000.000
77.000.000
o
o
o

Creditor

77.000.000

Total future estimated

Total future principal
70.000.000
Remaining interest not forgiven 4.000.000
Total future Interest
2.100.000
Total estimated cash flow 76.100.000
76.100.000
PV factor 10%, 1 year
x 0.90909
PV of Cash Flow
69.181.749
69.181.749
Restructuring Difference
900.000
PT. Kristal

Accrued Interest
Payable
Notes Payable
Restructured Debt.
Pay.
Gain on Restruct.
Debt
Restructured Debt
Pay
Cash

7.818.251

PT. Bankir

7.000.000
70.000.0
00
76.100.0
00
900.000
76.100.00
0

Allowance for
Uncollectible
Accrued Interest
Payable
Valuation Allowance

7.818.25
1

Impaired Notes
Payable
Notes Receivable

70.000.0
00

7.000.00
0
818.251

70.000.0
00

76.100.0
00

Problem 5B
d. Modified term of Debt
Debtor
Carrying Value of the Debt
o Principal
500.000.000
o Interest
120.000.000
Carrying Value of the Debt
620.000.000
620.000.000
Total future estimated
Semester Gasal 2012 / 2013

Creditor

620.000.000

Presented by : Accounting Study Division

MoJaKoe Akuntansi Keuangan Lanjutan

Total future principal

450.000.000
Remaining interest not forgiven 60.000.000
Total future Interest
54.000.000
Total estimated cash flow 564.000.000
564.000.000
PV factor 12%, 1 year
x 0.89286
PV of Cash Flow
503.573.040
503.573.040
Restructuring Difference
56.000.000

Semester Gasal 2012 / 2013

116.426.960