Nama : Patar Andreas Manalu Course : Advance Accounting

Nim : 2101636053 Class : LE-53

Case 1
a) 10-Dec Account Receivable $23,400
Sales Revenue $23,400

12-Dec Purchase $195,500

Account Payable $195,500

b) 31-Dec
Sales Record :
In Pesos : 8,541,000 Transaction Loss
Rate : 0.00259 Account Receivable
22,121
at Dec 10 23,400
Loss 1,279

Purchase Record
In Taiwan: 500,000
rate : 0.035 Account Payable
17,500 Transaction Gain
at dec 12 195,500
Gain : 178,000

c) At settlement : Jan 10
Sales Record :
In Pesos : 8,541,000 Cash
Rate : 0.0033 Transaction Gain
10-Jan 28,185 Account Receivable
at dec 31 22,121
Gain 6,064

Purchase Record
In Taiwan : 500,000 Account Payable
Rate : 0.0389 Transaction loss
10-Jan 19,450.0 Cash
at dec 31 17,500
 $1,279
$1,279

$178,000
$178,000

$28,185
$6,064
$22,121

$17,500
$1,950
$19,450
 1-Nov Account Receivable $454,050
Sales Revenue $454,050
(900.000*0.5045)

Dollar Receivable from Exchange Dealer $457,650

Foreign Currency Payable to Exchange Dealer
(900.000*0.5085)

31-Dec In Kronas : 900,000 Transaction Loss

spot rate : 0.4981 Account Receivable
at dec 31 448,290
at Nov 01 454,050
Loss 5,760

In Kronas : 900,000 Foreign Currency Payable to Exchange Dealer

Forw.Rate 0.4996 Transaction Gain
at dec 31 449,640
at Nov 01 457,650
Gain 8,010

30-Jan In Kronas: 900,000 Transaction Loss

spot rate : 0.4826 Account Receivable
at jan 30 434,340
at Dec 31 448,290
Loss : 13,950

in Kronas : 900,000 Foreign Currency Payable to Exchange Dealer

Forw.rate : 0.4826 Transaction Gain
30-Jan 434,340
31-Dec 449,640
Gain 15,300
Cash
Foreign Currency Payable to Exchange Dealer
Dollar Receivable from Exchange Dealer
Investment In Foreign Currency

Investment In Foreign Currency

Account Receivable
 $457,650

$5,760
$5,760

aler $8,010
$8,010

$13,950
$13,950

aler $15,300
$15,300

$457,650
$434,340
nge Dealer $457,650
cy $434,340

$434,340
$434,340
PT Pranata = Parent = Purchaser
PT Sakura = Subsidiary = Issuer

A) Total Constructive Gain : $52,400

B) Parent Subsidiary :
Par Value : $700,000 Issued Bond :
Purchase Price : $670,000 Premium Bond :
Constructive Gain $30,000 (40,000*16/20)
Book Value :

Par Value :
Constructive Gain :

C) PT Pranata Income Information :

Net Income Reported : $350,000
Less : Dividend Income -$80,000
Independent Income $270,000
Add : Constructive Gain on Bond Holding $30,000
Total Income Independent $300,000

PT Sakura Income Information :

Net Income Reported : $220,000
Add : Constructive Gain on Bond Holding $22,400
Total Income $242,400
Controlling percentage 80% $193,920
Controlling Interest in Income Statement $493,920
Non-Controlling Interest in Income Statement $48,480

D) Jurnal Elimination :
Bond Payable-PT Sakura $700,000
Investment in PT Sakura's Bond-PT Pranata

Bond Premium-Pt Sakura $22,400

Investment in PT Sakura's Bond-PT Pranata $30,000
Constructive Gain on Bond Holding

Premium Bond-PT Sakura $4,000

Interest Expense
(40000/20)*2

Interest Revenue $1,875

Investment in PT Sakura's Bond
(30000/16)
Investment in PT Sakura's Stock xxx
1/1 Retained Earning-PT Pranata

Dividend Income $80,000

Dividend Expense

Interest Revenue $56,000

Interest Expense
(700000*8%)

Common Stock xxx

1/1 Retained Earning xxx
Other Contributed Capital xxx
Share premium-Ordinary xxx
Difference Between Implied Value and Book Value xxx
Investment in PT Sakura's Stock
Non-Controlling Interest
Treasury Share
 $1,000,000
$32,000

$1,032,000
*70%
$722,400
ar Value : $700,000
$22,400

$700,000

$52,400

$4,000

$1,875
xxx

$80,000

$56,000

xxx
xxx
xxx
xxx
Statement of affair, PT Taruna
Book Value Asset
Asset Pledged to fully secured Creditors
165,000 Equipment-Net $88,000
Notes Payable plus Interest -$96,000
Unsecured Amount -$8,000

Assets pledged to partially secured Creditors

- - -
Free Assets
3,000 Cash
72,000 Account Receivable
60,000 Inventories
Total Realized Value :
Liability with priority
Estimate Unsecured amount
300,000 Net Realized Value

Liability and Equity

Liability
Liability with Priority -
Liability with fully secured creditor
96,000 Notes Payable $96,000
Equipment -$88,000
Liability with Unsecured Creditor
27,000 Rent Payable
45,000 Wages Payable
72,000 Account Payable

Equity :
200,000 Common Stock
-140,000 Retained Earning (Deficit)
300,000 Total Liability and Equity
Estimate Deficiency Amount
Realized Value Deficiency Amount Deficiency Amount
Assets :
-$77,000 Equipment -$77,000
Account Receivable -$22,000
Inventories $12,000
Total : $87,000

- -

$3,000
$50,000 -$22,000
$72,000 $12,000
$125,000
$0
$27,000
$152,000 -$87,000

$8,000

$27,000
$45,000
$72,000

$200,000
-$140,000
$152,000 $60,000
$27,000
Equity
Common Stock $200,000
Retained Earning -$140,000
Deficit:
Estimate Deficiency $27,000
amount
Total : $87,000
Balance Sheet-Translation Temporal Method
Assets GBP Rate USD
Cash GBP 1,335,000 1.473 $1,966,455
Merchendise Inventory GBP 490,000 1.495 $732,550
Plant Property Equipment GBP 3,475,000 1.8996 $6,601,110
Total Assets GBP 5,300,000 $9,300,115

Liability and Equity

Current Liability GBP 670,000 1.473 $986,910
Long term Notes Payable (1/1/2006) GBP 1,205,000 1.8996 $2,289,018
Common Share GBP 2,000,000 1.4919 $2,983,800
Retained Earning GBP 1,425,000 $3,040,387
Total Liabilities and Equity GBP 5,300,000 $9,300,115

Retained Earning Statement

1/1 Retained Earning GBP 900,000 $1,791,324
Net Income GBP 1,000,000 $1,948,738
GBP 1,900,000 $3,740,062
Dividend Declared -GBP 475,000 1.473 -$699,675
31/12 Retained Earning GBP 1,425,000 $3,040,387

Income Statement
Sales GBP 3,000,000 1.4788 $4,436,400
Cost Of Good Sold
Beginning Inventory -GBP 420,000 1.53 -$642,600
Purchase -GBP 1,370,000 1.4788 -$2,025,956
-GBP 1,790,000 -$2,668,556
Ending Inventory GBP 490,000 1.495 $732,550
Cost Of Good Sold -GBP 1,300,000 -$1,936,006
Depreciation Expense -GBP 300,000 1.8996 -$569,880
Other Expense -GBP 400,000 1.4788 -$591,520
Translation Gain or Loss -$609,744
Net Income GBP 1,000,000 $1,948,738