DEPARTEMEN AKUNTANSI

FAKULTAS EKONOMI
UNIVERSITAS INDONESIA

QUIZ PARALEL AKUNTANSI KEUANGAN 1

Peraturan :
1.Kerjakandikertasfoliobergaris(dilarangmenggunakanpensil).
2.KumpulkanjawabandisatpamdepartemenakuntansipalinglambatKamis
3.Segalaketerlambatantidakakanditoleransi.

pukul17.00.

Problem 1
Boedi is an accounting student in a well -known university in Depok. Budi is asked by his
aunt,Mrs.Srimul,tohelpher.HisauntistheownerofPTCenturyMutiara.Mrs.Srimulasks
Boedi why Bapepam rejects PT Century Mutiaras financial statement. He is asked by his
aunttoreviewPTCenturyMutiarasfinancialstatement.Hefoundthefollowingthings:
1.

2.
3.

4.

5.

PT Century Mutiaras financial statement per December 31, 2008 is attached with
financial statement per December 31, 1996. She said that it has done because the
company didnt prepare financial statement between 1997 and 2007. This is because the
companyhasfireditsaccountingstaff.
Mrs. Srimul bought a car for private use in 2005.
Mrs. Srimul used companys money,
butthiscarisrecordedinProperty,Plant,andEquipmentsectioninBalanceSheet.
PT Century Mutiara has received Rp 2 billion for service contract. PT Century Mutiara
hasnotdonethisservice.Thiscashreceipthasb eenrecordedasrevenuein2008 income
statement.
PTCenturyMutiarachangesitsinventoryvaluationmethodtoFIFOMethodbecausePT
CenturyMutiarawantstomakeupitsfinancialstatement.PTCenturyMutiarahasaplan
toborrowmoneyfromBankCIMA.
PT Century Mutiaras warehouse has been burnt up at January 31, 2009. PT Century
MutiararejectstodiscloseitinNotestoFinancialStatement.

Instruction:
Youarerequiredtoindicatequalitativecharacteristic,assumption,principle,orconstraint
which isnotobeyedbyPTCen turyMutiarafor10itemsabove.
Problem 2
Belowaretheaccountsandtheirrelatedendingbalanceasof31December2009ofPTVio
(Inthousandrupiahs)
AccruedExpense
AccumulatedOther Equity
Components
AdditionalPaidInCapital
AdvancePaymentstoSupplier
CashandCashEquivalent
CostofGoodsSold

75,000
130,000

65,250
15,000
135,000
(1,410,0
00)
CurrentPortionofEmployeeBenefit 7,000

InterestExpenses
InterestIncome

(17,500)
6,000

Inventories
InvestmentProperty
LoangTermBankLoans
LossfromDiscontinued
Operations
OtherAssets

227,500
15,500
17,500
(100,000)
17,500
1

DEPARTEMEN AKUNTANSI
FAKULTAS EKONOMI
UNIVERSITAS INDONESIA

Obligation
CurrentPortionofFinancialLease
Receivable
CurrentPortionofLongTermLoans
CustomerAdvances
DeferredTaxAsset
DividendPaidtoParentCompany
EmployeeBenefitObligation
FinancialLease Receivable
FixedAssetRevaluationSurplus,net
tax
FixedAssets
ForeignExchangeLoss
ForeignExchangeTranslation
Adjustment,nettax
GeneralandAdministrationExpense
Goodwill
IncomeTaxExpense
IncomeTaxOnLossfrom
DiscontinuedOperation
IntangibleAsset

29,500

OtherPayables

15,000

13,500
12,500
3,000
15,000
20,000
28,500
35,000

OtherReceivables
PrepaidExpenses
PrepaidTaxes
RetainedEarnings
Revenue
SellingExpense
ShareCapital

250
2,500
10,750
108,000
1,875,000
(100,000)
135,000

260,000
(15,000)
(75,000)

ShortTermBankLoans
TaxesPayable
TimeDeposit

161,750
25,000
2,500

(125,000
)
20,000
(20,000)

TotalAssets

945,500

30,000
10,750

TradePayables
160,000
TradeReceivable Related
13,000
Parties
TradeReceivable ThirdParty 154,250
UnrealizedHoldingLoss,Net
Tax

(50,000)

Required :

PreparetheStatementofComprehensiveIncome!

Hint: BE CAREFULwith where youwillincludeeach one oftheaboveaccounts, makesure

youhaveaccountedalltheaccounts.
PrepareTheStatementofFinancialPosition!
Hint : Use the information from Statement of Comprehensive Income from previous
excercise and be careful with where you will include each one of the above accounts ; make
sureyouhaveaccountedalloftheaccounts.
Problem 3
Accounts receivable in the amount of $250,000 were assigned to the Fast Finance Company
by Marsh, Inc., as security for a loan of $200,000. The finance company charged a 4%
commissiononthefaceamountoftheloan,andthenotebearsinterestat9%peryear.
During the first month, Marsh collected $130,000 on assigned accounts. This amount was
remittedtothefinancecompanyalongwithonemonth'sinterestonthenote.
Instructions :
MakealltheentriesforMarsh Inc.associatedwith
2

DEPARTEMEN AKUNTANSI
FAKULTAS EKONOMI
UNIVERSITAS INDONESIA

1. transferoftheaccountsreceivableandissuancenotepayable
2. collectionA/Rinthefirstmonth
3. remitttedcollectionandaccruedinteresttothefinancecompany.
Problem 4
FurnishyCo. installs replacementsiding,windows,andlouvered glass doorsforsinglefamily
homes andcondominiumcomplexesinnorthern TexasandsouthernCalifornia.Thecompany
recordthetransactionsforthemonthofDecember2010asfollows:
1. AlumuniumSiding
Purchase
Date
Units
1(begbal.)
20
5
30
15
40
20
20
2. ThermalWindow

Price/unit
$90000
$95000
$92000
$93000

Date
10
18
27

Sales
Units
40
40
20

Price/unit
$120000
$130000
$140000

Purchase
Date
Units
1(beg bal.)
10
3
12
12
15
20
10
3. LouveredGlassDoors

Price/unit
$150000
$165000
$160000
$140000

Date
8
16
28

Sales
Units
8
20
9

Price/unit
$200000
$210000
$225000

Date
6
17
25

Sales
Units
24
20
9

Price/unit
$125000
$155000
$170000

Date
1(begbal.)
4
13
19

Purchase
Units
15
20
15
12

Price/unit
$90000
$100000
$160000
$140000

Required :
1. AssumethatthecompanykeepstheFIFOperiodicinventorymethod:
a. ComputetheinventoryatDecember31,2010,showyourcalculation.
b. PreparethejournalentryneededonDecember19,20,25,27,and28,2010.
2. Assumethatthecompanykeepstheaverageperpetualinventorymethod:
a. ComputetheinventoryatDecember31,2010,showyourcalculation.
b. PreparethejournalentryneededonDecember,19,20,25,27,and28,2010.
c. Prepare the journal needed if the physical inventory count indicates that total
inventory on hand is 5 units for each type of inventory (the company uses the
latestcostperunittovalueinventoryonhand).
d. Afterperformingphysicalcount,thecompanygatheredinformation:

DEPARTEMEN AKUNTANSI
FAKULTAS EKONOMI
UNIVERSITAS INDONESIA

Alumunium Siding
(per unit)
Expectedselling
$165000
price
Costtosell
$5500
Costtocomplete
$8250

Thermal Windows
(per unit)
Expectedselling
price
Costtosell
Costtocomplete

$215000
$13000
$30000

Lovered Glass Doors

(per unit)
Expectedselling
$175000
price
Costtosell
$12000
Costtocomplete
$10000

Prepare the journal needed if Furnishy Co. applies Lower-of-Cost-or-Net

Realizable Value (LCNRV) for its inventory (at individual product) with Cost of
GoodsSoldmethodandtheuseofanallowancemethod.
e. ShowtheinventorysectionofFurnishyCosStatementofFinancialPositionasof
December31,2010