UNIVERSITAS INDONESIA

FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

KUIS PARALEL
AKUNTANSI KEUANGAN 2
KAMIS, 28 MARET 2013

PROBLEM 1 (NON CURRENT LIABILITIES)

Presented below is the transaction between Bruno Corp and Gregory
Corp :
1. Dec 31, 2010 Bruno Corp invest in Gregory Corp 3 year note, 10%,
in the amount of $330,000. The interest is paid anually on
December 31. Market rate 12%.
2. Dec 31,2011 Interest on the bonds is paid.
3. Dec 31,2012 Gregory Corp is in trouble, Bruno Corp agrees to
forgive the accrued interest, $30,000 of the principle, and to extend
the maturity date to December 31,2014. Bruno also agree to reduce
the interest into 8%.
4. Dec 31,2014 Gregory is facing another financial problem and
decided to give their machine as the settlement of the debt. The
machine has a book value $700,000 and accumulated depreciation
$500,000. The fair value of the machine on the date of settlement is
$250,000. (Note:Bruno forgive the accrued interest in 2014).
Instruction:
1. Prepare the amortization schedule of the bonds
2. Prepare the journal entries for the transaction above on the books of
Bruno Corp and Gregory Corp
PROBLEM 2 (EQUITY)
Western Company produces stage and sound system for festival. Most of
its revenues come from major firm in industry. The balance of its
shareholders equity section on the statement of financial position as of
July 1,2012 is as follow:
Preference share 10%, non-cumulative, par $100 (2,000
200,000
shares issued, 5,000 shares authorized)
Share Premium-Preference share
60,000
Ordinary share, par $33 (25,000 shares outstanding, 27,000
691,000
shares issued, 50,000 shares authorized)
Share Premium-Ordinary Share
378,000
Retained Earnings
550,000
Treasury Share (2,000 shares, at cost)
(80,000)

UNIVERSITAS INDONESIA
FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

Related
Jul 5
y
Jul 20
y
Au 10
g
Au 24
g
Se 1
p
Se 9
p
Se 21
p
Oc 15
t
Oc 30
t
No
v
De
c
De
c
De
c

transactions during the last semester of 2012:

Issued 6,000 shares ordinary share at $42
Purchased 1,500 shares of its own ordinary share at cost
Declared cash dividends for a total $55,000 on both preference
share and ordinary share outstanding recorded on Aug 24
Recorded the names of the shareholders for dividend calculation
Paid the cash dividends declared on Aug 10
Sold 1,000 shares of treasury shares at $37
Issued 750 shares of preference share at $105
Sold 2,500 shares of treasury share at $42

Issued 7,500 ordinary shares and 1,000 preference shares for a

lump sum $400,000 The fair value for ordinary shares is $38,
and the preference shares is unknown.
11 Declared 5% share dividend on ordinary share
outstanding,capitalized at $45
2
Issued the share dividend declared on Nov 11
13 Declared a share split of 1:3 for ordinary share
31 The company recorded a net income of $125,000 for the last
semester of 2005

Instruction :
1. Prepare the journal entries for the above transactions and a
memorandum note, if needed.
2. Construct the equity section for the above information.
PROBLEM 3 (DILUTIVE SECURITIES & EPS)
Part 1
Kwang Co.
Financial Position Statement
Equity Section
As of Jan 1 2012

UNIVERSITAS INDONESIA
FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

Share capital Ordinary, $10 par value, authorized

1.000.000
shares.
300.000
shares
issued
and
outstanding
Share premium Ordinary
Retained Earnings

$3.000.0
00
$600.00
0
$570.00
0

The following transactions occur during the current year:

1. Kwang Co. issues to the shareholders 100.000 rights. Ten rights are
needed to buy one share at $32. The rights are void after 30 days.
The market price of the shares at this time is $34 per share
2. Kwang Co.sells to the public $200.000, 10% bonds issue at 104. The
company also issues with each $100 bond one detachable warrant,
which provides for the purchase of ordinary shares at $30 per share.
The net present value of the bonds without the warrants is $192.000
3. All but 5.000 of the rights issued in transaction (1) are exercised in
30 days.
4. At the end of the year, 75% of the warrants in transaction (2) has
been exercised, and the remaining is outstanding and in good
standing.
5. During the current year, the company grants share options for
10.000 ordinary shares to company executives. The company using
a fair value option-pricing model determines that each option is
worth $10. The option price is $30. The options are to expire at the
year-end and are considered compensation for the current year.
6. All but 1.000 shares related to the share-option plan are exercised
by year-end. The expiration of share-option plan resulted within the
company.
Instructions: Prepare general journal entries for the current year to
record the transactions listed above!
Part 2
Commander Corporation had $900.000 net income in 2012. On January
1, 2012 there were 220.000 ordinary shares outstanding. On April 1, 2012,
20.000 shares were issued and on September 1, 2012, Commander
Corporation bought 30.000 treasury shares. There are 30.000 options to
buy ordinary share at $40 per share outstanding. The market price of the
ordinary share averaged $50 during 2004. The tax rate for the year is
25%.
During 2012, there were 20.000 shares of convertible preference share
outstanding. The preference share is $100 par, pays $7 a year dividend,
and is convertible into 3 shares of ordinary shares. Commander
Corporation issued $2.000.000 of 8% convertible bonds at face value

UNIVERSITAS INDONESIA
FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

during 2010. Each $1.000 bond is convertible into 20 shares of ordinary

share.
Compute the Commander Corporations diluted EPS!
PROBLEM 4 (INVESTMENT)
A. PT Matahari Putra Prima (MPPA) is one of the leading retail company in
Indonesia that sells customer goods. During 2012, the following
transactions took place:
1. On February 29, MPPA acquired 15% of Timezone ownership by
purchasing 1,000 shares of Timezone for Rp1,750 per share.
2. On March 3, MPPA purchased 2,000 shares of Boston Health and
Beauty (BHB) for Rp850 per share. MPPA also paid brokerage fee for
Rp25,000.
3. On March 27, Timezone declared and paid cash dividend. Each
shares get Rp125.
4. On April 1, BHB declared and distribute 10% stock dividend to its
shareholder.
5. On November 10, MPPA sold 500 shares of BHB for Rp875 per share.
MPPA also paid brokerage fee for Rp5,000.
6. At December 31, the shares had the following price per share
values: Timezone Rp2,300, BHB Rp750.
Instructions: For every transactions that occurred in 2012, record MPPA
equity investment under fair value method, assume that MPPA decided
the investment in Timezone and BHB as: (a) trading investment; (b)
non-trading investment.
B. PT Multilever Indonesia has significant influence in Magnum Co. after
purchasing 350,000 shares for Rp8,500 per share and get 40% of
Magnum Co. ownership on January 1, 2013. During 2013, the following
transactions took place:
1. On March 9, Magnum declared and paid cash dividend for Rp150 per
share.
2. Magnum Co. reports their financial statement every June 30.
Surprisingly, Magnum Co. reports net loss Rp10,000,000.
3. At December 31, Magnum Co. shares have market value of Rp8,000
per share.
Instruction: Record the transactions above under equity method.
Prepare partial statement of financial position to present investment
related account at December 31.
During 2012, the following transactions took place:
1. On February 29, MDS paid Rp150 per share dividend.

UNIVERSITAS INDONESIA
FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

2. On May 10, MPPA sold 500 shares of Timezone for Rp1500 per
share.
3. On September 3, MPPA purchased 300 shares of MDS for Rp3200
per share.
4. At December 31, the shares had the following price per share
values: Timezone Rp1500, MDS Rp 3500, Times Bookstore Rp225.
PROBLEM 5 (STATEMENT OF CASH FLOW)
PT Maskapai Indonesia is an airline company that serves main
destinations in Indonesia. Here financial statement that been provided by
its accountant for financial year of 2012
PT. Maskapai Indonesia
Comprehensive Income Statement
for period ended Dec 2012
27,208,203,000

Revenue
Operating Expenses:
Flight Operations
Passengers and Airport Expense
Hotel and Employee Services
General and Administration
Total operating expenses

(15,848,636,000)
(2,329,671,000)
(4,243,670,000)
(3,730,865,000)
(26,152,842,000)

Operating Income

1,055,361,000

Interest Income
Income from Associates
Financial charge
Gain on foreign exchange
Impairment loss
Income before tax
Income tax expense
Net Income
Other Comprehensive Income
Comprehensive Income

198,743,000
145,650,000
(173,490,000)
48,968,000
(34,309,000)
1,240,923,000
(193,992,000)
1,046,931,000
80,206,000
1,127,137,000

UNIVERSITAS INDONESIA
FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

UNIVERSITAS INDONESIA
FAKULTAS EKONOMI
DEPARTEMEN AKUNTANSI

Additional information related to its financial statement as follow:

1. Company has $ 100.000 foreign notes that been accumulated
during the period. Average exchange rate for the period was Rp
9.136, in other hand the rate in reporting date (31/12/2012) is Rp
9.772.
2. Depreciation and amortisation of assets amounting Rp 620.032.000
included in its flight operating expenses.
3. During the period, company received Rp 11.590.000 dividend from
its associates and recognised 29,13% stake in its associates which
reporting Rp 500.000.000 net income for the period.
4. There was no sale of available for sale during the reporting period.
5. In 2012, company purchase additional aircraft amounting Rp
200.000.000 and sold its aircraft maintenance facility in Medan for
Rp 260.093.000. all fixed assets are recognised by revaluation
model and in the reporting date it is indicated increasing fair value
of fixed assets by Rp 101.684.000.
6. Company also finished in building new cargo facility in Jakarta to be
rented to other airlines. Total construction cost was Rp 27.000.000.
in other hand, land that intended to be kept for its price appreciation
was affected by massive waste spill over. Thus the price is declined
by Rp 34.309.000.
7. Including in bank loan is discount amortisation for Rp 23.490.000,
while in finance lease liability, including Rp 15.118.000 discount
amortisation.
8. Company bought new licence for international ticketing application
for Rp 2.000.000, in other hand a right to fly to Europe amounting
Rp 6.000.000 was disposed due to declining demand caused by the
continents economic depression, all intangibles is recorded by cost
method.
9. Company declared Rp 190.264.000 cash dividend.
Required:
Prepare statement of cash flow according to requirement of PSAK 2!