Pertemuan Ke – 11

1. a. Current Liabilities or Long Term Liabilities

b. Current jika membayar hutang dgn memakai Current Asset.
c. Current Liabilities = 200.000 dan Long Term Liabilities = 800.000.
d. Current Liabilities.
e. Long Term liabilities.
f. Current Asset.
g. Current Asset.
h. Current Asset.
i. Current Asset.

2. April 01.
a. Sold 9.600 lmbr, 11%, 15 thn, @ $1.000 at 97.
Cash (1.000 x 9.600 x 0,97) 9.312.000
Discount on B / P 288.000
B/P 9.600.000

b. Oct 01.
Paid Interest ( Semi Annual ) + Amortization.
Interest Exp. 537.600
Discount on B / P (288.000 x 30) 9.600
Cash (9.600.000 x 11% x 6/12) 528.000

c. Dec 31.
Interest Exp 268.800
Discount on B / P (288.000 x 30 x 3/6) 4.800
Interest Pay (9.600.000 x 11% x 3/12) 264.000

d. Interest Exp. (1.000 x 2.400 x 11% x 2/12) 44.000

Interest Pay 44.000

Interest Exp. [(72.000 / 30) x 2/6] 800

Discount on B / P 800

B/P 2.400.000
Interest Payable 110.000
Loss on Redemption B / P 147.000
Discount on B / P 67.600
PIC in Excess – Common Stock 1.680.000
Common Stock 800.000
Cash 110.000
 March 01.
Bayar Hutang Bunga untuk ¼ Bond.
Interest Payable 66.000
Cash 66.000
Bayar Bunga 2 bulan untuk ¼ Bond.
Interest Expense 44.000
Cash 44.000
Amortisasi untuk ¼ bond.
Interest Expense 800
Discount on B / P 800
Jurnal Penembusan ¼ Bond.

3. May 01, 2009

Cash 1.187.200
B/P 1.120.000
Premium 67.200
Cash 44.800
Interest Exp. 44.800

Dec 31.
Interest Exp. (12 bulan) 134.400
Interest Payable 134.400
Premium on B / P 4.634,48
Interest Exp. [(67.200 / 116) x 8] 4.634,48

Jan 01, 2010

Interest Payable 134.400
Cash 134.400

Jan 01 – Apr 01, 2010

672.000 x 12% x 3/12 = 20.160
3 bulan
672.000 / 1.120.000 = 60% bonds
[(672.000 / 3) /3 ] x 60% = 1.042,7

60% CA = 60% x (1.187.200 – 4.634,48 – 1.732,93)

= 708.496,22

Sisa Unamortized Premium = 67.200 – 4.634,48 – 1.732,93

= 60.827,62
 Dec 31, 2010
Interest Exp. (448.000 x 12%) 53.760
Interest Payable 53.760
Premium on B / P * 3.823,45
Interest Exp. 3.823,45
*( Amortization untuk 672.000 selama 3 bulan = 1.042,76)
( Amortization untuk 448.000 selama 1 tahun = 2.780,69)**
3.823,45
** [(67.200/ 116) x 12 x 40%]

4. Louise Company.
01. 01 / 06 / 09
Cash 1.022.047
Premium on B / P 62.047
B/P 960.000

Maturity Value of B / P 960.000

Present Value of In 960.000 due in 8 period at 5%
(960.000 x 0,67684) 649.760
Present Value of Interest Payable Semi Annually
(57.600 x 6,46321) 372.281
Proceeds from sale of bonds 1.022.047
Premium on B / P 62.047

01 / 12 / 09
Interest Exp. 51.102,35
Premium on B / P 6.497,65
Cash (960.000 x 12% x 6/12) 57.600

31 / 12 / 09
Interest Exp. (50.777,47 x 5/6) 8.462,91
Premium on B / P (6.822,53 x 1/6) 1.137,09
Interest Payable (57.600 x 1/6) 9.600

01 / 06 / 10
Interest Exp. (50.777,47 x 5/6) 42.314,56
Interest Payable 9.600
Premium on B / P (6.822,53 x 5/6) 5.685,44
Cash 57.600
01 / 10 / 10
Interest Exp. (50.436,34 x 20% x 4/6) 6.724,85
Premium on B / P (7.163,66 x 20% x 4/6) 955,15
Cash 7.680
*(192.000 / 960.000) = 20%

01 / 10 / 10
B/P 192.000
Premium on B / P 8.790,21
Gain on Redemption on Bond 6.870,21*
Cash 193.920
*Reacquisition Price [201.600 – (192.000 x 12% x 4/12)] 193.920
Net carrying amount of bond redemption =
Par Value 192.000
Unamortized Premium
[20% x (62.047 – 6.497,65 – 6.822,53) – 955 x 15] 8.790,21 (200.790,21)
Gain on Redemption (6.870,21)

01 / 12 / 10
Interest Exp. (50.436,34 x 80%) 40.349,07
Premium on B / P (7.163 x 80%) 5.730
Cash (57.000 x 80%) 46.080
*[(960.000 – 192.000) / 960.000]

31 / 12 /10
Interest Exp. (50.078,16 x 80% x 1/6) 6.677,09
Premium on B / P (7.521,84 x 80% x 1/6) 1.002,91
Interest Payable (57.600 x 80% x 1/6) 7.680

01 / 06 / 11
Interest Exp. (50.078,16 x 80% x 5/6) 33.385,44
Interest Payable 7.680
Premium on B / P (7.521,84 x 80% x 5/6) 5.014,56
Cash (57.600 x 80%) 46.080

01 / 12 / 11
Interest Exp. (49.702,07 x 80%) 39.761,66
Premium on B / P (7.897,93 x 80%) 6.318,34
Cash (57.000 x 80%) 46.080
 Date Cash Credit Interest Exp. Bond Premium Carrying Value of Bonds
01 / 06 / 09 1.022.047
01 / 12 /09 57.600 51.102,35 6.497,65 1.015.549,35
01 / 06 / 10 57.600 50.777,47 6.822,53 1.008.726,82
01 / 12 / 10 57.600 50.436,34 7.163,66 1.001.563,16
01 / 06 / 11 57.600 50.078,16 7.521,84 994.041,32
01 / 12 / 11 57.600 49.702,07 7.897,93 986.143,39
01 / 06 / 12 57.600 49.307,17 8.292,83 977.850,56
01 / 12 / 12 57.600 48.892,53 8.707,47 969.143,09
01 / 06 / 13 57.600 48.456,91 9.143,09 960.000

02. Brad Company

01 / 03 / 09
Cash 377.672
Discount on B / P 22.328
B/P 400.000

Maturity Value of B / P 400.000

Present Value of In 400.000 due in 7 period at 6%
(400.000 x 0,66506) 266.524
Present Value of Interest Payable Semi Annually
(20.000 x 5,58238) 111.648
Proceeds from sale of bonds (377.672)
Premium on B / P 22.328

01 / 09 / 09
Interest Exp. 15.213,29
Discount on B / P (2.819,94 x 4/6) 1.879,96
Interest Payable (20.000 x 4/6) 13.333,33

01 / 03 / 10
Interest Exp. 7.606,65
Interest Payable 13.333,33
Discount on B / P (2.819,94 x 2/6) 939,98
Cash 20.000

01 / 09 / 10
Interest Exp. 15.445,65
Discount on B / P (3.168,48 x 4/6) 2.112,32
Interest Payable 13.333,33
 Date Cash Credit Interest Exp. Bond Premium Carrying Value of Bonds
01 / 06 / 09 377.672
01 / 12 /09 20.000 22.660,32 2.660,32 380.332,32
01 / 06 / 10 20.000 22.819,94 2.819,94 383.152,26
01 / 12 / 10 20.000 22.989,14 2.989,14 386.141,40
01 / 06 / 11 20.000 23.168,48 3.168,48 389.309,88
01 / 12 / 11 20.000 23.358,59 3.358,59 392.668,47
01 / 06 / 12 20.000 23.560,11 3.560,11 396.228,58
01 / 12 / 12 20.000 23.773,72 3.773,72 400.000

Pertemuan Ke – 12
01. a. Jan 02, 1995
Cash 6.887.500
Discount on B / P 362.500
Mortage B / P 7.250.000

Dec 18, 2009

Cash (8.700.000 x 1.02) 8.874.000
B/P 8.700.000
Premium on B / P 174.000

Jan 02, 2010

B/P 7.250.000
Loss on Redemption 435.000
Discount on B / P 145.000
Cash (7.250.000 x 1,04) 7.540.000

b. Gain or Loss from retirement is treated as other expense.

02. a. Heide Co.

Selling price of the bonds (3.690.000 x 103%) 3.800.000
Accured interest from Jan 01 to Feb 28, 2010 (3.690.000 x 9% x 2/12) 55.350
Total cash received from issuance of the bonds 3.856.050
Less : Bond issuance cost 33.210
Net amount of cash received 3.619.260

b. Raymond Co.
Carrying amount of the bond 01 / 01 / 09 516.208
Effective – Interest Rate (10%) x 0,1
Interest expense to be reported for 2007 51.620,8
 c. Zigaz Building Co.
Maturities and Sinking fund requirement on Long – Term Debt for the 6 year are as follow :
2006 : 520.000
2007 : 455.000
2008 : 260.000
2009 : 260.000
2010 : 455.000
2011 : 390.000

d. Mandy Carie Inc.

Since the three bond reported by Mandy Carie Inc, are secured by either real estate, securities
of the corporations, are plant equipment, none of the bond are classified as debenture bonds.

03. a. Sandra
N/P 4.500.000
C/S 1.500.000
PIC 1.800.000
Gain on Restructing* 1.200.000
*(Gain = FV Equity – CA Debt)
(Gain =3.300.000 – 4.300.000)

Federal
Investment in Sandra 3.300.000
Allowance for Doubtful or Bad Debt Exp. 1.200.000
N/R 4.500.000

b. Sandra
N/P 4.500.000
Land 2.925.000
Gain on Disposal* 675.000
Gain on Restructing** 900.000
*(3.600.000 – 2.925.000)
**(4.300.000 – 3.400.000)

Federal
Investment in Land 3.600.000
Allowance for Doubtful or Bad Debt Exp. 900.000
N/R 4.500.000
c. Sandra
No Entry.

Carrying amount sebelum direstrukrisasi 4.500.000

Cash flow setelah direstrukrisasi 4.500.000
--
CA sebelumdirestrukrisasi 4.500.000
Less : Par Value 3.380.940
1.119.060

Bad Debt Exp. 1.119.060

Allowance for doubtful Account 1.119.060

d. Sandra
No Entry.

Cash Flow = 3.750.000 + (3.750.000 x 10% x 2)

= 4.500.000

Federal
Current Asset 4.500.000
3
PV = 3.750.000 / (1+10%) 2.817.430,5
PV dari Interest 591.660,41* (3.409.110)
Loss 1.090.890

Bad Debt Exp. 1.090.890

Allowance for Doubtful Account 1.090.890
2
*PV A = 375.000 x 1/10% (1 – 1 / (1+10%)
PV A = 650.826,44
PV = 650.826,44 / (1+10%)
= 591.660,41
 Pertemuan Ke -13
1. a. Jan 01, 2010
Cash 1.031.250
P / S (25 x 37.500) 937.500
PIC – in Excess of par Preferred 93.750

Jan 15, 2010

Organization Exp. 3.200
PIC – in Excess of par Common 550
C / S (15 x 250) 3.750

Feb 01, 2010

Cash (62.000 x 16,5) 1.023.000
C / S (62.000 x 15) 930.000
PIC – in Excess of par Common 93.000

Apr 01, 2010

RE ( 562.250 x 4% x 20) 449.800
C /S (562.250 x 4% x 15) 337.350
PIC – in Excess of par Common 112.450

July 01, 2010

T / S (124.500 x 8,50) 1.058.250
Cash 1.058.250

July 31, 2010

Equipment 29.500
PIC – in Excess of par Common 500
C / S (15 x 2.000) 30.000

Sept 15, 2010

Cash (62.000 x 5) 310.000
RE 217.000
T / S (62.000 x 8,50) 527.000

Aug 15, 2010

Machine 35.000
Factory Building 56.700
Land 75.200
PIC – in Excess par Preferred 29.400
P / S (2,5 x 5.500) 137.500
 Oct 01, 2010
Cash (42.800 x 3,25) 139.100
RE 224.700
T / S ( 42.800 x 8,5) 363.800

Nov 30, 2010

Cash (9.700 x 3,50) 33.950
RE 48.500
T / S (9.700 x 8,50) 82.450

Dec 31, 2010

RE [( 268.000 x 25) x 0,08] 536.000
Cash Dividend Payable – P / S 536.000
RE (994.000 x 0,50) 497.000
Cash Dividend Payable - C / S 497.000

Dec 31, 2010

Income Summary 2.100.000
RE 2.100.000

b. Armando Corporation
Balance Sheet ( Stockholder Equity Section)
Dec 31, 2010
PIC
P / S (8%) 6.700.000
C/S 8.463.750
Additional :
PIC – Preferred 423.150
PIC – Common 4.704.400
RE 7.094.000
Deduct :
T/S (85.000)
Total 27.300.300

2. a. Land (74 x 25.000) 1.850.000

T / S (63 x 25.000) 1.575.000
PIC – in excess of par T / S 275.000
b. Unamortized Bond Issue Cost ( 480 x 880 x 500 / 880 ) 240.000
Cash (880 x 11.520) 10.137.600
B / P (12.000 x 500) 6.000.000
C / S ( 12.000 x 12 x 5 ) 720.000
PIC – in Excess of pas C / S 3.657.600

Cash (11.520 x 880) 8.448.000

Unamortized bond Issue Cost* 215.510,2
Bond Discount** 612.245
B/P 6.000.000
C/S 720.000
PIC – in Excess of par C / S 2.555.755

Subordivated Debenture 500

C /S (12 Share x 40) 480
Total FV 980

Total Issue Cost = (480 x 850) = 422.400

*[(500 / 980) x 422.400]
** [6.000.000 – (10.560.000 x 500/980)]

c.01. Fair MV of Common (650 x 165) 107.250

Fair MV of Preferred (130 x 230) 29.900
137.150

Allocated to Common = 107.250/137.150 x 130.000 = 101.658,8

Allocated to Preferred = 29.900/137.150 x 130.000 = 28.341,2
130.000

Cash 130.000
C / S (650 x 10) 6.500
PIC – C / S 104.000
P / S (130 x 100) 13.000
PIC – Preferred 6.500

02. Lump – Sum Receipt 130.000

Allocated to Common (170 x 650) (110.500)
Allocated to Preferred 19.500
03. a. 1. T / S (192 x 77) 14.784
Cash 14.784
2. RE [(3.840 – 192) x 16] 58.368
Dividend Payable 58.368
3. Dividend Payable 58.368
Cash 58.368
4. Cash (81x192) 15.552
PIC – in excess of par T / S 768
T / S (77 x 192) 14.784
5. T / S (400 x 82) 32.800
Cash 32.800
6. Cash (77 x 264) 20.328
RE 552
PIC – in Excess of par T / S 768
T / S (82 x 264) 21.648

b. Stockholder Equity Section

PIC :
C /S 307.200
RE 251.480
Deduct :
T/S (11.152)
Total 547.528

04. a. Preferred Common Total

Dividend Arrears (200.000 x 7%) 14.000 140.000
Current Year Dividend (7% x 3.000.000)* 14.000 210.000
Participating Dividend [4% x (128.000/320.000) 8.000 120.000