3.

Solution Inventory
Part A (15%)
1. Average Perpetual
a. Ending Inventory = 200*10.3=2,060
Dat Purchas
e
ed
1 200@10
300@10.
5 5
10

Sold

300@10.3

350@10.
15 2
18
150@10.
20 4

300@10.2
4

Balance
200@10
500@10.3
0
200@10.3
0
550@10.2
4
250@10.2
4
400@10.3
0

27

200@10.3
0

200@10.3
0

b. Dec. 20
Inventory
$ 1,560
Accounts Payable
$ 1,560
Dec. 27
*) Accounts Receivable $ 3,000
Sales
$ 3,000
*) COGS
$ 2,060
Inventory
$ 2,060
2. FIFO periodic
a. Ending Inventory (unit) = 200 + 300 + 350 + 150 300 300 200 =200 units
Ending inventory (cost) = 150*10.4 + 50*10.2 = $ 2,070
b. Dec. 15
Purchase
$ 3,570
Accounts Payable
$ 3,570
Dec. 18
Accounts Receivable
$ 4,200
Sales
$ 4,200
c. Inventory (ending)
$ 2,172
COGS
$ 8,210
Inventory Short and Over
$ 102
Purchase
$ 8,280
Inventory (beginning)
$ 2,000
d. NRV/unit = $13.1 - $3.00 = $10.1
Total NRV of inventory=$10.1*210=$2,121
Inventory (cost) = $2,172
Loss due to decline value of Inventory = $51
Journal:
Loss due to decline value of Inv.
$51
Allowance to reduce Inv. to NRV
$51
e. Allowance to reduce Inv. to NRV
$21 (0.1*210)
Recovery of Inventory Loss
$21

Part B (5%)
Beginning inventory
Add: Purchases
Cost of goods available
Sales
Less 40%
Estimated inventory lost

4. Solution RECEIVABLE
PART 1

$ 170,000
980,000
1,150,000
$1,400,000
(560,000)

840,000
$ 310,000

Individually assessed receivables

PT. A
PT. D
Collectivelly assessed receivables
Current
150.000.000
+ PT B
100.000.000
+ PT C
50.000.000+ 300.000.000 x 5%
1-30 days
45.000.000 x 20%
31-60 days
50.000.000 x 35%
61-180 days
45.000.000 x 65%
181-365 days
50.000.000 x 90%
>365 days
45.000.000 x 100%
TOTAL LOSS ON IMPARMENT

15.000.000
60.000.000

=
=
=
=
=
=

15.000.000
9.000.000
17.500.000
29.250.000
45.000.000
45.000.000+
235.750.000

Jurnal untuk mencatat loss on impairment:

Bad debt expense............................................

235.750.000
Allowance for Doubful Account........................
235.750.000
PART 2
On 1 january 2011, Notes receivable face value 2.000.000.000, 4 thn, notes interest 12%, market
rate 10% , interest per year = 12% x 2 Miliar = 240 juta
On 31 december 2011, PT GHI experinced financial difficulty. They will pay all of te accrued
interest and rest of interests and principal can only be paid 65%.
1. Prepare the schedule of effective interest method
Present Value Notes Receivable = PV face value + PV interest
= (2 miliar x 0,68301) + (240 juta x 3,16986)
= 1.366.020.000 + 760.766.400
= 2.126.786.400(premium)

Date
01 jan 11
31 dec 11
31 dec 12
31 dec 13
31 dec 14

Cash
received
240 juta
240 juta
240 juta
240 juta

Schedule of Note Premium Amortization

Effective-Interest Method
12% Note Discounted at 10%
Interest Revenue
Premi amortization
(10%xCarry.amount)
212.678.640
209.946.504
206.941.154,4
203.635.269,8

27.321.360
30.053.496
33.058.845,6
36.352.698

Carrying Amount
2.126.786.400
2.099.465.040
2.069.411.544
2.036.352.698
2.000.000.000

2. Calculate impairment loss of receivable

Impaired loan cash flow
Date

Contractual cah

Expected Cash

Loss on Cash Flow

31 dec 11
31 dec 12
31 dec 13
31 dec 14
Total Cash Flow

flow
240 juta
240 juta
240 juta
2.240 juta
2.960 juta

Flow
240 juta
156 juta
156 juta
1.456 juta
2.008 juta

Impairment :
Recorded investement (carrying amount at 31 dec 2011)
PV face value (65%x2 miliarx0,75132)
976.716.000
PV interest (65% x 240 juta x 2,48685)
387.948.600
Accrued Interest
240.000.000+
Loss on impairment

0
84 juta
84 juta
784 juta
952 juta
2.099.465.040
1.604.664.600 494.800.440

3. Jurnal untuk mencatat transaksi receivable:

1 jan 2011

Notes Receivable............................................ 2.126.786.400

Cash............................................................. 2.126.786.400
(record the receipts of the note)
31 dec 2011

Interest receivable............................................ 240.000.000

Notes Receivable............................................................. 27.321.360
Interest revenue............................................................... 212.678.640
(record interest revenue)
Bad debt expense............................................
494.800.440
Allowance for Doubful Account........................ 494.800.440
(record loss on impairment notes receivable)

Problem 5
1.
2.
3.
4.

Comparability.
Periodicity.
Matching.
Economic entity.