Kelompok 1

Anggota:
Helena Widya Hendrawan 200425256
Clarista Ervanda Vioretha 200425278
Raden Hanif Novio Borgi 200425554
Sherina Salsadila 200425615
Dewi 200425895

E23.3 (LO2,3) (Preparation of Operating Activities Section—Indirect Method, Periodic

Inventory)
The income statement of Rodriquez SA is shown below.

Rodriquez SA
Income Statement
For the Year Ended December 31, 2019

Sales revenue R$6,900,000

Cost of goods sold

Beginning inventory R$1,900,000

Purchases 4,400,000

Goods available for sale 6,300,000

Ending inventory 1,600,000

Cost of goods sold 4,700,000

Gross profit 2,200,000

Operating expenses

Selling expenses 450,000

Administrative expenses 700,000 1,150,000

Net income R$1,050,000

Additional information:
1. Accounts receivable decreased R$310,000 during the year.
2. Prepaid expenses increased R$170,000 during the year.
3. Accounts payable to suppliers of merchandise decreased R$275,000 during the year.
 4. Accrued expenses payable decreased R$120,000 during the year.
5. Administrative expenses include depreciation expense of R$60,000.

Instructions
Prepare the operating activities section of the statement of cash flows for the year ended
December 31, 2019, for Rodriquez SA, using the indirect method.

Rodriquez SA
Laporan Arus Kas Parsial
31 Desember 2019
Arus kas dari aktivitas operasi
Laba bersih R$1,050,000

Penyesuaian untuk merekonsiliasi laba bersih dengan kas bersih yang disediakan oleh aktivitas
operasi

Beban penyusutan R$60,000

Penurunan pada piutang dagang R$310,000
Penurunan pada persediaan R$300,000
Peningkatan pada beban dibayar di muka (R$170,000)
Penurunan pada utang dagang (R$275,000)
Penurunan pada utang beban yang masih harus dibayar (R$120,000)
R$105,000
Kas bersih yang diperoleh dari aktivitas operasi R$1,155,000

E23.5 (LO2,3) (Preparation of Operating Activities Section—Direct Method)

Norman NV's income statement for the year ended December 31, 2019, contained the following
condensed information.

Service revenue €840,000

Operating expenses (excluding depreciation) €624,000

Depreciation expense 60,000

Loss on sale of equipment 26,000 710,000

Income before income taxes 130,000

Income tax expense 40,000

 Net income € 90,000

Norman's statement of financial position contained the following comparative data at December
31.

2019 2018

Accounts receivable €37,000 €59,000

Accounts payable 46,000 31,000

Income taxes payable 4,000 8,500

(Accounts payable pertains to operating expenses.)

Instructions
Prepare the operating activities section of the statement of cash flows using the direct method.

1. Computation of cash receipts from customers:

Revenue from fees €840,000
Add: Decrease in accounts receivable
(€59,000 – €37,000 € 22,000
Cash receipts from customers €862,000

2. Computation of cash payments:

Operating expenses per income statement €624,000
Deduct: Increase in accounts payable
(€46,000 – €31,000 € 15,000
Cash payments for operating expenses €609,000

3. Computation for income tax:

Income tax expense per income statement € 40,000
Add: Decrease in income taxes payable
(€8,500 – €4,000 € 4,500
Cash payments for income taxes € 44,500

NORMAN COMPANY
Partial Statement of Cash Flows
For the Year Ended December 31, 2019

Cash flows from operating activities

Cash receipts from customers €862,000 (a)
Cash payments
For operating expenses €609,000 (b)
For income taxes € 44,500 (c)
 €653,500
Net cash provided by operating activities €208,500

E23.9 (LO2,3) (SCF—Direct Method)

Costa SA uses the direct method to prepare its statement of cash flows. Costa's trial balances at
December 31, 2019 and 2018, are as follows.

December 31
2019 2018

Debits

Cash R$ 35,000 R$ 32,000

Accounts receivable 33,000 30,000

Inventory 31,000 47,000

Property, plant, and 100,000 95,000

equipment

Cost of goods sold 250,000 380,000

Selling expenses 141,500 172,000

General and administrative 137,000 151,300

expenses

Interest expense 4,300 2,600

Income tax expense 20,400 61,200

R$752,200 R$971,100

Credits

Allowance for doubtful R$  1,300 R$  1,100

accounts

Accumulated depreciation 16,500 13,500

Accounts payable 25,000 17,000

Income taxes payable 21,000 29,100

Deferred income taxes 5,300 4,600

 8% callable bonds payable 40,500 15,000

Share capital–ordinary 50,000 40,000

Share premium–ordinary 9,100 7,500

Retained earnings 44,700 64,600

Sales revenue 538,800 778,700

R$752,200 R$971,100

Additional information:
1. Costa purchased R$5,000 in equipment during 2019.
2. Costa allocated one-third of its depreciation expense to selling expenses and the
remainder to general and administrative expenses.
3. Bad debt expense for 2019 was R$5,000, and write-offs of uncollectible accounts totaled
R$4,800.
4. Interest expense includes R$500 of discount amortization.

Instructions
Determine what amounts Costa should report in its statement of cash flows for the year ended
December 31, 2019, for the following items.
a. Cash collected from customers.
Sales revenue $538,800
Deduct: Increase in accounts receivable,
net of write-offs 7,800
[$33,000 – ($30,000 – $4,800)]
Cash collected from customers $531,000
b. Cash paid to suppliers.
Cost of goods sold $250,000
Deduct: Decrease in inventory 16,000
($47,000 – $31,000)
Purchases 234,000
Deduct: Increase in accounts payable 9,500
($25,000 – $15,500)
Cash payments to suppliers $224,500
c. Cash paid for interest.
Interest expense $4,300
Deduct: Decrease in unamortized bond discount 500
($5,000 – $4,500)
Cash paid for interest $3,800
 d. Cash paid for income taxes.
Income tax expense $20,400
Add: Decrease in income taxes payable 8,100
($29,100 – $21,000)
Deduct: Increase in deferred tax liability 700
($5,300 – $4,600)
Cash paid for income taxes $27,800
e. Cash paid for selling expenses.
Selling expenses $141,500
Deduct: Depreciation ($1,500* X 1/3) 500
Bad debt expense 5,000 5,500
Cash paid for selling expenses $136,000
*($16,500 – $15,000)

E23.11 (LO2) (SCF—Indirect Method)

Condensed financial data of Fairchild SA for 2019 and 2018 are presented below.

Fairchild SA
COMPARATIVE STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019 AND 2018

2019 2018

Debt investments (held-for-collection) €1,300 €1,470

Plant assets 1,900 1,700

Accumulated depreciation (1,200) (1,170)

Inventory 1,600 1,900

Accounts receivable 1,750 1,300

Cash 1,800 1,100

€7,150 €6,300

Share capital—ordinary €1,900 €1,700

Retained earnings 2,450 1,900

Bonds payable 1,400 1,650

Accounts payable 1,200 800

 Accrued liabilities 200 250

€7,150 €6,300
 
Fairchild SA
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2019

Sales revenue €6,900

Cost of goods sold 4,700

Gross margin 2,200

Selling and administrative expense 930

Income from operations 1,270

Other income and expense Gain on sale of investments 80

Income before tax 1,350

Income tax expense 540

Net income €  810

Additional information:
During the year, €70 of ordinary shares were issued in exchange for plant assets. No plant assets
were sold in 2019. Cash dividends were €260.

Instructions
Prepare a statement of cash flows using the indirect method.

Jawaban:

FAIRCHILD COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2019
(Indirect Method)

Cash flows from operating activities

Net income 810
Adjustments to reconcile net income to net cash provided by operating activities:
 Depreciation expense (1,200 – 1,170) 30
Gain on sale of investments (80)
Decrease in inventory 300
Increase in accounts payable 400
Increase in receivables (450)
Decrease in accrued liabilities (50) 150
Net cash provided by operating activities 960

Cash flows from investing activities

Sale of held for collection investments [(1,470 – 1,300) + 80] 250
Purchase of plant assets [(1,900 – 1,700) – €70] (130)
Net cash provided by investing activities 120

Cash flows from financing activities

Issuance of ordinary shares [(1,900 – 1,700) – €70] 130
Retirement of bonds payable (250)
Payment of cash dividends (260)
Net cash used by financing activities (380)

Net increase in cash 700

Cash, January 1, 2019 1,100
Cash, December 31, 2019 1,800

E23.13 (LO2,3) (SCF—Direct Method)

Andrews AG, a greeting card company, had the following statements prepared as of December
31, 2019.

Andrews AG
COMPARATIVE STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019 AND 2018

12/31/19 12/31/18

Equipment €154,000 €130,000

Accumulated depr.—equipment (35,000) (25,000)

Copyrights 46,000 50,000

Inventory 40,000 60,000

Prepaid rent 5,000 4,000

Accounts receivable 62,000 49,000

Short-term investments (trading) 35,000 18,000

Cash 6,000 9,000

Total assets €313,000 €295,000

Share capital—ordinary, €10 par €100,000 €100,000

Share premium—ordinary 30,000 30,000

Retained earnings 57,000 36,000

Long-term loans payable 60,000 67,000

Accounts payable 46,000 42,000

Income taxes payable 4,000 6,000

Salaries and wages payable 8,000 4,000

Short-term loans payable 8,000 10,000

Total equity and liabilities €313,000 €295,000

Andrews AG
INCOME STATEMENT
FOR THE YEAR ENDING DECEMBER 31, 2019

Sales revenue €338,150

Cost of goods sold 175,000

Gross margin 163,150

Operating expenses 120,000

Operating income 43,150

Interest expense €11,400

Gain on sale of equipment 2,000 9,400

Income before tax 33,750

Income tax expense 6,750

 Net income € 27,000

Additional information:
1. Dividends in the amount of €6,000 were declared and paid during 2019.
2. Depreciation expense and amortization expense are included in operating expenses.
3. No unrealized gains or losses have occurred on the investments during the year.
4. Equipment that had a cost of €30,000 and was 70% depreciated was sold during 2019.

Instructions
Prepare a statement of cash flows using the direct method.

a.Kas yang diterima dari pelanggan

Pendapatan penjualan €338,150
Dikurangi: Peningkatan pada piutang dagang (€62,000 - €49,000) €13,000
Kas yang dikumpulkan dari pelanggan €325,150

b.Kas yang dibayarkan kepada supplier

Harga pokok penjualan €175,000
Dikurangi:
Peningkatan utang dagang (€46,000 - €42,000) €4,000
Penurunan pada persediaan (€60,000 - €40,000) €20,000
Kas yang dibayarkan kepada supplier
€151,000

c.Kas yang dibayarkan untuk beban operasional.

Beban operasional €120,000
Ditambahkan
Peningkatan sewa dibayar di muka (€5,000 - €4,000) €1,000
Dikurangi:
Beban penyusutan (€35,000 – (€25,000 – (€30,000 × 70%)))
€31,000
Amortisasi hak cipta (€50,000 - €46,000) €4,000
Peningkatan utang gaji (€8,000 - €4,000) €4,000
Kas yang dibayarkan untuk beban operasional €82,000

d.Kas yang dibayar untuk pajak penghasilan

Beban pajak penghasilan €6,750
Ditambahkan: Penurunan utang pajak penghasilan (€4,000 - €6,000) €2,000
Kas yang dibayarkan untuk pajak penghasilan €8,750
 Andrews AG
Laporan Arus Kas
31 Desember 2019
Arus kas dari aktivitas operasi
Kas yang diterima dari pelanggan
€325,150
Kas yang dibayarkan kepada supplier €151,000
Kas yang dibayarkan untuk beban operasional €82,000
Kas yang dibayarkan untuk bunga €11,400
Kas yang dibayarkan untuk pajak penghasilan €8,750 €
253,150
Kas bersih yang diperoleh dari aktivitas operasi €72,000
Arus kas dari aktivitas investasi
Penjualan peralatan (€30,000 - (€30,000 × 70%) + €2,000) €11,000
Pembelian peralatan (€154,000 - (€130,000 - €30,000) (€54,000)
Pembelian investasi non-trading (€35,000 - €18,000) (€17,000)
Kas bersih yang digunakan untuk aktivitas investasi (€60,000)
Arus kas dari aktivitas pendanaan
Pembayaran pokok pinjaman jangka pendek. (€2,000)
(€10,000 - €8,000)
Pembayaran pokok pinjaman jangka panjang (€7,000)
(€60,000 - €67,000)
Pembayaran dividen (€6,000)
Kas bersih yang digunakan untuk aktivitas pendanaan (€15,000)

Penurunan bersih dalam kas (€3,000)

Kas, 1 Januari 2019 (€9,000)
Kas, 31 Desember 2019 (€6,000)
Kelompok 1:
Helena Widya Hendrawan 200425256
Clarista Ervanda Vioretha 200425278
Raden Hanif Novio Borgi 200425554
Sherina Salsadila 200425615
Dewi 200425895

E22.1 (LO1) (Change in Policy—Long-Term Contracts)

Cherokee Construction Company changed from the cost-recovery to the
percentage-of-completion method of accounting for long-term construction contracts during
2019. For tax purposes, the company employs the cost-recovery method and will continue
this approach in the future. (Hint: Adjust all tax consequences through the Deferred Tax
Liability account.) The appropriate information related to this change is as follows.

Pretax Income from

Percentage-of-Completion Cost-Recovery Difference

2018 $780,000 $610,000 $170,000

2019 700,000 480,000 220,000

Instructions:
a. Assuming that the tax rate is 35%, what is the amount of net income that would be
reported in 2019?
Dengan cara menggunakan pendekatan retrospektif:
Income before income tax $700,000
Income tax (35% X $700,000) $245,000
Net income $455,000
b. What entry(ies) is necessary to adjust the accounting records for the change in
accounting policy?
Construction in Process 170,000
Deferred Tax Liability ($170,000 X 35%) 59,500
Retained Earnings ($170,000 X 65%) 110,500

E22.2 (LO1) (Change in Policy—Inventory Methods)

Whitman SA began operations on January 1, 2016, and uses the average-cost method of
pricing inventory. Management is contemplating a change in inventory methods for 2019.
The following information is available for the years 2016–2018.

Net Income Computed Using

Average-Cost Method FIFO Method

2016 €16,000 €19,000

2017 18,000 21,000

2018 20,000 25,000

Instructions:
(Ignore all tax effects.)
a. Prepare the journal entry necessary to record a change from the average-cost
method to the FIFO method in 2019.
inventory 11.000
retained earning 11.000
11.000 = (19.000 + 21.000 + 25.000) - (16.000 + 18.000 + 20.000)

b. Determine net income to be reported for 2016, 2017, and 2018, after giving effect to
the change in accounting policy.
NET INCOME (metode FIFO)
2016 19.000
2017 21.000
2018 25.000

E22.3 (LO1) (Accounting Change)

Ramirez Co. decides at the beginning of 2019 to adopt the FIFO method of inventory
valuation. Ramirez had used the average-cost method for financial reporting since its
inception on January 1, 2017, and had maintained records adequate to apply the FIFO
method retrospectively. Ramirez concluded that FIFO is the preferable inventory method
because it reflects the current cost of inventory on the statement of financial position. The
following table presents the effects of the change in accounting policy on inventory and cost
of goods sold.

Inventory Determined by Cost of Goods

Sold
Determined by

Date Average-Cost FIFO Method Average-Cost FIFO Method

Method Method

January 1, 2017 $  0 $  0 $     0 $     0

December 31, 100 80 800 820

2017

December 31, 200 240 1,100 940

2018

December 31, 320 390 1,130 1,100

2019

Retained earnings reported under average-cost are as follows.

Retained Earnings Balance

December 31, 2017 $2,200

 December 31, 2018 4,200

December 31, 2019 6,070

Other information:
1. For each year presented, sales are $4,000 and operating expenses are $1,000.
2. Ramirez provides two years of financial statements. Earnings per share information
is not required.

Instructions:
a. Prepare income statements under average-cost and FIFO for 2017, 2018, and 2019.
b. Prepare income statements reflecting the retrospective application of the accounting
change from the average-cost method to the FIFO method for 2019 and 2018.
c. Prepare the note to the financial statements describing the change in method of
inventory valuation. In the note, indicate the income statement line items for 2019
and 2018 that were affected by the change in accounting policy.
d. Prepare comparative retained earnings statements for 2018 and 2019 under FIFO.

a.
Ramirez Co.
Laporan Laba Rugi
31 Desember
Biaya Rata-Rata
2017 2018 2019
Penjualan $4.000 $4.000 $4.000
HPP (800) (1.000) (1.130)
Biaya operasi (1.000) (1.000) (1.000)
Total Penghasilan Bersih $2.200 $2.000 $1.870

Ramirez Co.
Laporan Laba Rugi
31 Desember
FIFO
2017 2018 2019
Penjualan $4.000 $4000 $4.000
HPP (820) (940) (1.100)
Biaya operasi (1.000) (1.000) (1.000)
Total Penghasilan Bersih $2.180 $2.060 $1.900

b.
Ramirez Co.
Laporan Laba Rugi
31 Desember
2018 2019
Penjualan $4.000 $4.000
HPP (940) (1.100)
Biaya operasi (1.000) (1.000)
Total Penghasilan Bersih $2.060 $1.900

c.
2018 2019
Laporan Posisi Keuangan Biaya Rata-Rata FIFO Selisih Biaya Rata-Rata
FIFO Selisih
Persediaan $200 $240 $40 $320 $390 $70
Saldo Laba 4.200 4.240 40 6.070 6.140 70
Laporan Laba Rugi
HPP $1.000 $940 $60 $1.130 $1100 $30
Penghasilan Bersih 2.000 2.060 60 1.870 1,.900 30
Laporan Arus Kas Tidak ada efek

d.
2018 2019
Saldo laba, 1 Januari $2.200
Penyesuaian untuk efek kumulatif dari penerapan metode akuntansi baru (FIFO) (20)
Saldo laba, 1 Januari, Disesuaikan 2.180 $4240
Penghasilan bersih 2.060 1.900
Saldo laba, 31 Desember $4.240 $6.140

E22.4 (LO1) (Accounting Change)

Linden plc started operations on January 1, 2014, and has used the FIFO method of
inventory valuation since its inception. In 2019, it decides to switch to the average-cost
method. You are provided with the following information.

Net Income Retained Earnings

(ending balance)

Under FIFO Under Average-Cost Under FIFO

2014 £100,000 £ 92,000 £100,000

2015 70,000 65,000 160,000

2016 90,000 80,000 235,000

2017 120,000 130,000 340,000

2018 300,000 293,000 590,000

2019 305,000 310,000 780,000

Instructions:
a. What is the beginning retained earnings balance at January 1, 2016, if Linden
prepares comparative financial statements starting in 2016?
 b. What is the beginning retained earnings balance at January 1, 2019, if Linden
prepares comparative financial statements starting in 2019?
c. What is the beginning retained earnings balance at January 1, 2020, if Linden
prepares single-period financial statements for 2020?
d. What is the net income reported by Linden in the 2019 income statement if it
prepares comparative financial statements starting with 2017?
(A) 2008
retained earnings, january 1, as reported £160,000
cumulative effect of change in accounting
policy to average cost (13.000)*
retained earnings, januari 1, as adjusted £147,000

*[£8,000(2006) + £5,000 (2007)

(B) 2011
retained earnings , january 1, as reported £590,000
cumultive effect to change in accounting
policy to average cost (20,000)*
retained earnings, january 1, as adjusted £570,000

*[£8,000 (2006) + £5,000 (2007) + £10,000 (2008) - £7,000 (2010)]

(c)
2012
retained earnings , january 1, as reported £780,000
cumultive effect to change in accounting
policy to average cost (15,000)*
retained earnings, january 1, as adjusted £765,000

*[£20,000 at 12/31/2010)]

(D) 2009 2010 2011

net income £130,000 £293,000 £310,000

P22.3 (LO1,2,3) (Error Corrections and Accounting Changes)

Chen Group is in the process of adjusting and correcting its books at the end of 2019. In
reviewing its records, the following information is compiled.

1. Chen has failed to accrue sales commissions payable at the end of each of the last 2
years, as follows.

December 31, 2018 ¥3,500,000

December 31, 2019 ¥2,500,000

 2. In reviewing the December 31, 2019, inventory, Chen discovered errors in its
inventory-taking procedures that have caused inventories for the last 3 years to be
incorrect, as follows.

December 31, 2017 Understated ¥16,000,000

December 31, 2018 Understated ¥19,000,000

December 31, 2019 Overstated ¥ 6,700,000

Chen has already made an entry that established the incorrect December 31, 2019,
inventory amount.
3. At December 31, 2019, Chen decided to change the depreciation method on its office
equipment from double-declining-balance to straight-line. The equipment had an
original cost of ¥100,000,000 when purchased on January 1, 2017. It has a 10-year
useful life and no residual value. Depreciation expense recorded prior to 2019 under
the double-declining-balance method was ¥36,000,000. Chen has already recorded
2019 depreciation expense of ¥12,800,000 using the double-declining-balance
method.
4. Before 2019, Chen accounted for its income from long-term construction contracts on
the cost-recovery basis. Early in 2019, Chen changed to the
percentage-of-completion basis for accounting purposes. It continues to use the
cost-recovery method for tax purposes. Income for 2019 has been recorded using
the percentage-of-completion method. The information is available below.

Pretax Income from

Percentage-of-Completion Cost-Recovery

Prior to 2019 ¥150,000,000 ¥105,000,000

2019 60,000,000 20,000,000

Instructions:
Prepare the journal entries necessary at December 31, 2019, to record the above
corrections and changes. The books are still open for 2019. The income tax rate is 40%.
Chen has not yet recorded its 2019 income tax expense and payable amounts so
current-year tax effects may be ignored. Prior-year tax effects must be considered in item 4.

1.Retained Earnings...................................................... 3,500,000

Sales Commissions Payable...........................…………………………….2,500,000
Sales Commission Expense............................……………………1,000,000

2.Cost of Goods Sold (¥19,000,000 + ¥6,700,000).....................25,700,000

Retained Earnings. ……………………………………19,000,000
Inventory............................................................……………………….6,700,000
Income Overstated (Understated)
 2017 2018 2019
Beginning inventory ¥16,000,000 ¥19,000,000
Ending inventory ¥(16,000,000) 19,000,000 6,700,000
¥(16,000,000) ¥(3,000,000) ¥25,700,000

Accumulated Depreciation—Equipment........……………….......4,800,000
DepreciationExpense..............................……………………………….........4,800,000*

*Equipment cost.........................................¥100,000,000
Depreciation before 2019.......................…..(36,000,000)
Book value.............................................…..¥64,000,000

Depreciation recorded..........................…………¥12,800,000
Depreciation to be taken (¥64,000,000/8).....……. (8,000,000)
Difference.................................................. ……..¥4,800,000

4.Construction in Process.......…………….................... 45,000,000

Deferred Tax Liability.....……..................................……. ………………..18,000,000*
Retained Earnings............................................……………………………27,000,000
1. PT Bahana menjual sebagian aset pabriknya selama 2019. Cost aset pabrik adalah
$750.000 dan akumulasi penyusutan pada tanggal penjualan adalah $700.000. Hasil
penjualan aset pabrik adalah $105.000. Informasi mengenai penjualan aset tetap harus
ditunjukkan pada laporan arus kas PT Bahana (metode tidak langsung) untuk tahun yang
berakhir pada tanggal 31 Desember 2019 sebagai
a) pengurangan laba bersih sebesar $55.000 dan peningkatan arus kas sebesar
$50.000 dari aktivitas pendanaan.
b) tambahan laba bersih sebesar $55.000 dan peningkatan arus kas sebesar $105.000
dari aktivitas investasi.
c) pengurangan laba bersih sebesar $55.000 dan peningkatan arus kas sebesar
$105.000 dari aktivitas investasi.
d) penambahan $105.000 ke laba bersih

2. PT Sila memiliki sebuah mesin yang mulai digunakan pada 1/7/2020. Cost mesin adalah
$450.000, umur ekonomis 5 tahun dengan nilai sisa $40.000 dan didepresiasi dengan
metode garis lurus. Setelah penyesuaian 31/12/2022, perusahaan menemukan kesalahan
dalam penghitungan beban depresiasi, yaitu tidak memasukkan nilai sisa. Pada jurnal
koreksi yang dibuat pada akhir tahun 2022 ada...(4 Poin)
a) Beban depresiasi dikredit 8.000
b) Akumulasi depresiasi didebet 24.000
c) Saldo laba dikredit 8.000
d) Saldo laba didebet 20.000

3. PT Ananta melaporkan laba bersih sebesar $340.000 untuk tahun yang berakhir 31/12/19.
Termasuk dalam perhitungan laba bersih adalah: beban penyusutan $60.000; amortisasi
paten $32.000; pendapatan dari investasi dalam saham biasa PT Betania, dicatat dengan
metode ekuitas $48.000; dan amortisasi diskonto obligasi $12.000. Minear juga
membayar dividen $80.000 selama tahun tersebut. Kas bersih yang disediakan oleh
aktivitas operasi akan dilaporkan pada:(4 Poin)
a) $396.000.
b) $316.000.
c) $284.000.
d) $204.000.
4. Morgan Leasing Group menandatangani kesepakatan pada I Januari 2019 untuk
menyewakan peralatan kepada Cole plc. Jangka waktu sewa yang tidak dapat dibatalkan
adalah 6 tahun tanpa opsi perpanjangan. Peralatan tersebut diperkirakan memiliki umur
ekonomis 6 tahun. Harga perolehan aset bagi lessor adalah $245.000. Nilai wajar aset
pada I Januari 2019 adalah $245.000. Aset akan dikembalikan ke lessor pada akhir masa
sewa, pada saat aset diharapkan memiliki nilai sisa sebesar $24.335, tidak ada satupun
yang dijamin. Perjanjian tersebut mensyaratkan pembayaran sewa tahunan yang setara,
dimulai pada 1 Januari 2019. Kolektibilitas pembayaran sewa oleh Morgan sangat
mungkin terjadi. Berapakah nilai hutang sewa tanggal I Januari 2020 pada pencatatan
lessor? (4 poin)
a) $245.000
b) $199.000
c) $168.920
d) $136.434

5. Pada I Januari 2018, Aneka Corporation menandatangani sewa peralatan selama lima
tahun yang tidak dapat dibatalkan. Persyaratan sewa meminta Aneka Corporation untuk
melakukan pembayaran tahunan sebesar $200,000 pada awal setiap tahun selama lima
tahun dimulai pada 1 Januari 2018 dengan hak milik beralih ke Aneka Corporation.
Peralatan tersebut memiliki estimasi masa manfaat 7 tahun dengan nilai sisa digaransi
sebesar $20,000, sementara kemungkinan nilai sisa yang diduga (expected) hanya sebesar
$8,000. Aneka Corporation menggunakan metode penyusutan garis lurus untuk semua
aset tetapnya dan mencatat transaksi sewa ini sebagai sewa pembiayaan. Pembayaran
sewa minimum ditentukan dengan tingkat bunga efektif 10%. Pada tahun 2019, Aneka
Corporation harus mencatat beban bunga sebesar...(4 Poin)
a) $40,000
b) $57,000
c) $50,557
d) $40,680

6. Pada tanggal 31 Desember 2018, Marga Corporation menyewa pesawat dari Asia
Company untuk periode delapan tahun di mana estimasi masa manfaat pesawat adalah 10
tahun. Pembayaran tahunan sebesar $450,000 akan jatuh tempo pada tanggal 31
Desember setiap tahun, dimulai dengan tanggal 31 Desember 2018. Sewa diklasifikasikan
 sebagai sewa pembiayaan dan Marga Corporation diberikan opsi membeli pada akhir
tahun ke 8 seharga $7,000, di mana estimasi harga pasar pada tahun tersebut $25,000
Nilai sekarang tanggal 31 Desember 2018 dari delapan pembayaran sewa selama masa
sewa dihitung dengan tingkat bunga efektif 10%. Dengan menggunakan metode
penyusutan garis lurus, berapa nilai beban depresiasi per tahun yang harus diakui oleh
Marga Corporation?(4 Poin)
a) $200,400
b) $264,405
c) $230,000
d) $270,000

7. PT Dahaga Company telah menjual sebagian aset pabriknya selama 2019. Peralatan telah
dijual seharga $156.000. Peralatan tersebut memiliki cost $252.000 dan memiliki nilai
buku $144.000. Akumulasi Penyusutan Peralatan adalah $687.000 pada 31/12/18 dan
$735.000 pada 31/12/19. Beban penyusutan untuk tahun 2019 adalah(4 Poin)
a) $60.000.
b) $96.000.
c) $156.000.
d) $192.000.

8. Morgan Leasing Group menandatangani kesepakatan pada I Januari 2019 untuk

menyewakan peralatan kepada Cole. Jangka waktu sewa yang tidak dapat dibatalkan
adalah 6 tahun tanpa opsi perpanjangan. Peralatan tersebut diperkirakan memiliki umur
ekonomis 6 tahun. Harga perolehan aset bagi lessor adalah $245.000. Nilai wajar aset
pada I Januari 2019 adalah $245.000. Aset akan dikembalikan ke lessor pada akhir masa
sewa, pada saat aset diharapkan memiliki nilai sisa sebesar $24.335, tidak ada satupun
yang dijamin. Perjanjian tersebut mensyaratkan pembayaran sewa tahunan yang setara,
dimulai pada I Januari 2019. Kolektibilitas pembayaran sewa oleh Morgan sangat
mungkin terjadi. Pada tanggal 31 Desember 2019, apa yang dicatat oleh lessor di Sisi
kredit dan berapa nilainya?(4 Poin)
a) Piutang bunga $15.000
b) Kas $15.920
c) Pendapatan bunga $15.920
d) Beban bunga $15.920
9. Deriora menggunakan asumsi fifo untuk sediaan barang dagangannya sejak tahun 2020.
Pada tahun awal tahun 2023, Deriora mengubah asumsi cost sediaan barang dagangan
menjadi rata-rata. Laba sebelum pajak dengan metode fifo adalah: 2020-$12.000, 2021-
$11.400, 2022-$10.500, dan 2023-$14.000. Sedangkan laba sebelum pajak dengan
metode rata-rata adalah: 2020-$11.000, 2021-$9.900, 2022-$9.OOO, dan 2023-$12.800.
Tingkat pajak adalah 20%. Jurnal yang dibuat awal tahun 2023 untuk mencatat perubahan
metode sediaan...(4 Poin)
a) Sediaan barang dagangan dikredit 5.200
b) Saldo laba didebet 3.200
c) Saldo laba didebet 4.160
d) Utang pajak dikredit 800

10. Crosley Company, dealer mesin, menyewakan mesin ke Dexter Corporation pada tanggal
I Januari 2019. Sewa untuk jangka waktu 8 tahun dan mensyaratkan pembayaran tahunan
yang sama sebesar $ 35.004 setiap awal tahun. Pembayaran pertama diterima pada 1
Januari 2019. Crosley membeli mesin tahun 2018 dgn harga $ 160.000. Kolektibilitas
pembayaran sewa oleh Crosley sangat mungkin terjadi. Crosley menetapkan sewa
tahunan untuk memastikan tingkat pengembalian 6%. Mesin tersebut memiliki umur
ekonomis 10 tahun tanpa nilai sisa dan akan dikembalikan ke Crosley pada saat masa
sewa selesai. Diantara pengujian berikut ini, manakah yang terpenuhi sehingga kontrak
tersebut dikategorikan sbg kontrak sewa pembiayaan oleh lessor? (4 Poin)
a) Uji masa sewa
b) Uji transfer kepemilikan
c) Uji penggunaan alternative
d) Uji opsi pembelian

11. Kas bersih yang diperoleh dari aktivitas operasi dalam Iaporan arus kas PT Gardenia
untuk tahun 2019 adalah $115.000. Untuk 2019, depresiasi aset pabrik sebesar $45.000,
 amortisasi paten sebesar $8.000, dan dividen tunai yang dibayarkan untuk saham biasa
sebesar $54.000. Berdasarkan informasi yang diberikan di atas, laba bersih PT Gardenia
untuk tahun 2019 adalah(4 Poin)
a) $115.000.
b) $62.000.
c) $8.000.
d) $116.000.

12. Pada 31 Dec 2018 PT Ciputra menyewa peralatan dari Sukses Company di bawah sewa
empat tahun yang membutuhkan pembayaran tahunan yang sama sebesar $344,152,
dengan pembayaran pertama jatuh tempo pada awal sewa. Peralatan memiliki masa
manfaat 4 tahun dengan nilai sisa digaransi sebesar $10,000, sementara kemungkinan
nilai sisa yang diduga (expected) sebesar $15,000. Pinjaman dengan tingkat bunga efektif
8%. Dengan asumsi bahwa sewa ini diklasifikasikan sebagai sewa pembiayaan, berapa
jumlah pengurangan Kewajiban Sewa yang dicatat pada 31 Dec Poin)
a) $250,200
b) $350,700
c) $180,000
d) $273,199

13. Cherio membayar sewa untuk 4 tahun pada 1/4/2020 sebesar $40.000. Sewa dimulai
tanggal 1/4/2020. Pada saat transaksi pembayaran sewa, Cherio mendebet akun Beban
Sewa 40.000, dan tidak melakukan jurnal penyesuaian pada akhir periode. Kesalahan ini
diketahui setelah Cherio mencatat jurnal penyesuaian 31/12/2022. Pada jurnal koreksi
yang dibuat akhir tahun 2022 ada...(4 Poin)
a) Beban asuransi didebet 12.500
b) Asuransi dibayar di muka didebet 10.000
c) Saldo laba dikredit 22.500
d) Saldo laba dikredit 27.500

14. Pada tanggal 31 Desember 2018, Tower Corporation menyewa truk dari Thomas
Company untuk periode lima tahun di mana estimasi masa manfaat truk adalah 8 tahun.
Pembayaran tahunan sebesar $300,000 akan jatuh tempo pada tanggal 31 Desember setiap
 tahun, dimulai dengan tanggal 31 Desember 2018. Sewa diklasifikasikan sebagai sewa
pembiayaan dan Tower Corporation diberikan opsi membeli pada akhir tahun ke 5
seharga $30,000, di mana estimasi harga pasar truk pada tahun tersebut $25,000 (opsi
boleh tidak diambil). Nilai sekarang tanggal 31 Desember 2018 dihitung dengan tingkat
bunga efektif 10%. Dengan menggunakan metode penyusutan garis lurus, berapa nilai
beban depresiasi per tahun yang harus diakui oleh Tower Corporation? (4 Poin)
a) $ 290,300
b) $ 300,500
c) $ 200,000
d) $ 250,192

15. PT Endah melaporkan laba bersih sebesar $50.000 pada tahun 2019. Beban penyusutan
adalah $19.000. Berikut perubahan akun modal PT Endah: Piutang akuntansi meningkat
$11.000; Investasi ekuitas non-perdagangan meningkat $16.000; Persediaan $7.300
meningkat; Utang wesel non-usaha meningkat $15.000; Hutang usaha meningkat
$12.200. Jika PT Endah menggunakan pelaporan IFRS dan metode tidak langsung, berapa
jumlah penyesuaiannya untuk merekonsiliasi laba bersih dengan kas bersih yang
disediakan oleh atau (digunakan dalam) aktivitas operasi?(4 Poin)
a) $3,100
b) $49.500
c) $12.900
d) $10.500

16. Timeo adalah perusahaan konstruksi yang mengakui pendapatan dengan metode cost
recovery. Pada tahun 2022, Timeo mengubah metode pengakuan pendapatan menjadi
percentage of completion. Laba bersih berdasarkan cost recovery adalah: tahun 2020-
$22.000, 2021-$18.000, dan 2022-$10.000. Sedangkan laba bersih berdasarkan
percentage-of-completion adalah: 2020-$23.600, 2021-$19.OOO, dan 2022-$11.100.
Pada jurnal untuk mencatat perubahan metode pengakuan pendapatan kontrak jangka
panjang, akun Konstruksi dalam Proses akan...(4 Poin)
a) Didebet $3.700
b) Dikredit $3.700
c) Didebet $2.600
d) Dikredit $2.600
17. Pada tanggal 31 Desember 2018, Adira Corporation menyewa kapal dari Delta Company
untuk periode delapan tahun. Harga sewa pembayaran tahunan sebesar $500,000 akan
jatuh tempo pada tanggal 31 Desember setiap tahun, dimulai tanggal 31 Desember 2018.
Sewa diklasifikasikan sebagai sewa pembiayaan dalam pembukuan Adira Corporation.
Kapal tersebut memiliki estimasi masa manfaat 10 tahun dan tidak ada nilai sisa. Nilai
sekarang pada 31 Desember 2018 dari delapan pembayaran sewa selama masa sewa
dengan tingkat bunga efektif 10% adalah $2,934,209. Dengan asumsi semua pembayaran
dilakukan tepat waktu, jumlah yang harus dilaporkan oleh Adira Corporation sebagai total
kewajiban sewa pembiayaan pada laporan posisi keuangan 31 Desember 2019 adalah...
(4 poin)
a) $ 2,000,500
b) $ 2,500,900
c) $ 2,177,630
d) $ 1,890,700

18. PT Cahaya menjual sebagian aset pabriknya selama 2019. Peralatan dengan cost
$213.000 dan memiliki akumulasi penyusutan sebesar $114.000 dijual seharga $111.000.
Transaksi ini harus ditunjukkan pada laporan arus kas (metode tidak langsung) sebagai (4
poin)
a) tambahan pada laba bersih sebesar $12.000 dan arus kas masuk sebesar $111.000
dari aktivitas pendanaan.
b) pengurangan pada laba bersih sebesar $12.000 dan arus kas masuk sebesar
$99.000 dari aktivitas investasi
c) pengurangan pada laba bersih sebesar $12.000 dan arus kas masuk sebesar
$111.000 dari aktivitas investasi.
d) tambahan pada laba bersih $12.000 dan arus kas masuk $99.000 dari aktivitas
pendanaan.on 1

19. Pada 31 Dec 2018 PT Ciputra menyewa peralatan dari Sukses Company di bawah sewa
empat tahun yang membutuhkan pembayaran tahunan yang sama sebesar $344,152,
dengan pembayaran pertama jatuh tempo pada awal sewa. Peralatan memiliki masa
manfaat 4 tahun dengan nilai sisa digaransi sebesar $10,000, sementara kemungkinan
 nilai sisa yang diduga (expected) sebesar $15,000. Pinjaman dengan tingkat bunga efektif
8%. Sewa ini diklasifikasikan sebagai sewa pembiayaan. Jika pada berakhirnya sewa,
peralatan tidak dikembalikan ke Sukses Company maka, PT Ciputra boleh memiliki
peralatan dengan membayar sebesar:(4 Poin)
a) $ 0
b) $ 5,000
c) $ 15,000
d) $ 10,000

20. Question
Crosley Company, dealer mesin, menyewakan mesin ke Dexter Corporation pada tanggal
1 Januari 2019. Sewa untuk jangka waktu 8 tahun dan mensyaratkan pembayaran tahunan
yang sama sebesar $ 35.004 setiap awal tahun. Pembayaran pertama diterima pada 1
Januari 2019. Crosley membeli mesin tahun 2018 dgn harga $ 160.000. Kolektibilitas
pembayaran sewa oleh Crosley sangat mungkin terjadi. Crosley menetapkan sewa
tahunan untuk memastikan tingkat pengembalian 6%. Mesin tersebut memiliki umur
ekonomis 10 tahun tanpa nilai sisa dan akan dikembalikan ke Crosley pada saat masa
sewa selesai. Berapakah nilai kas yang diterima lessor dari lessee setiap awal tahunnya?(4
Poin)
a) $ 160.000
b) $ 35.004
c) $ 230.410,3
d) $ 245.000

21. Topika mempunyai Gedung yang diperoleh tanggal 31/12/2018. Cost gedung adalah
$100.000, nilai sisa $10.000, umur ekonomis 10 tahun. Gedung ini semula didepresiasi
dengan metode garis lurus. Pada awal tahun 2025, kerusakan gedung semakin cepat
sehingga Topika mengubah metode depresiasi menjadi jumlah angka tahun dengan nilai
 sisa nol. Tidak ada perubahan pada total umur ekonomis gedung. Beban depresiasi tahun
2025 dengan metode jumlah angka tahun adalah sebesar...(4 Poin)
a) $8.364
b) $18.400
c) $18.182
d) $10.000

22. Berikut informasi atas traksaksi-transaksi PT Fleming selama tahun 2019: Dividen
dibayarkan kepada pemegang saham preferen $150,000; Pinjaman yang diberikan kepada
perusahaan afiliasi $750.000; Kas dari penerbitan obligasi $900.000; Kas dari penerbitan
saham preferen $1.050.000; Kas dari penjualan peralatan $450.000; Pembelian
persediaan $1.200.000; Pembelian tanah dengan menerbitkan obligasi $300.000;
Pembelian saham treasuri $600.000. Kas bersih yang disediakan (digunakan) oleh
aktivitas investasi selama tahun 2019 adalah(4 Poin)
a) ($600.000).
b) ($300.000).
c) $150.000.
d) $450.000.

23. Crosley Company, dealer mesin, menyewakan mesin ke Dexter Corporation pada tanggal
1 Januari 2019. Sewa untuk jangka waktu 8 tahun dan mensyaratkan pembayaran tahunan
yang sama sebesar $ 35,004 setiap awal tahun. Pembayaran pertama diterima pada 1
Januari 2019. Crosley membeli mesin tahun 2018 dgn harga $ 160.000. Kolektibilitas
pembayaran sewa oleh Crosley sangat mungkin terjadi. Crosley menetapkan sewa
tahunan untuk memastikan tingkat pengembalian 6%. Mesin tersebut memiliki umur
ekonomis 10 tahun tanpa nilai sisa dan akan dikembalikan ke Crosley pada saat masa
sewa selesai. Berapakah nilai BPP (Cost of good sold) yang dicatat oleh lessor pada 1
Januari 2019?(4 Points)
a) 160.000
b) 35.004
c) 230.410,3
d) 245.000
24. Berikut informasi atas traksaksi-transaksi PT Fleming selama tahun 2019. Dividen
dibayarkan kepada pemegang saham preferen $150,000; Pinjaman yang diberikan kepada
perusahaan afiliasi $750.000. Kas dari penerbitan obligasi $900.000; Kas dari penerbitan
saham preferen $1.050.000; Kas dari penjualan peralatan $450.000; Pembelian
persediaan $1.200.000; Pembelian tanah dengan menerbitkan obligasi $300.000;
Pembelian saham treasuri $600.000. Kas bersih yang disediakan (digunakan) oleh
aktivitas pendanaan selama tahun 2019 adalah (4 Points)
a) l.650.000
b) 450.000
c) 750.000
d) l.200.000

25. Dovia membeli Paten pada awal tahun 2018 dengan cost $20.000. Kontrak paten adalah
untuk 10 tahun dan umur ekonomis paten adalah 8 tahun. Pada awal tahun 2024,
perusahaan menemukan bahwa amortisasi paten selama ini menggunakan dasar umur
kontrak, bukan umur ekonomis. Tidak ada perubahan pada total umur ekonomis paten.
Pada jurnal koreksi yang dibuat pada awal tahun 2024 ada… (4 Points)
a) Paten didebet 3.000
b) Beban amortisasi didebet 3.000
c) Beban amortisasi dikredit 3.000
d) Saldo laba didebet 3.000
Kelompok 1
Anggota:
Helena Widya Hendrawan 200425256
Clarista Ervanda Vioretha 200425278
Raden Hanif Novio Borgi 200425554
Sherina Salsadila 200425615
Dewi 200425895

E21.1 (LO2) (Lessee Entries; No Residual Value)

DU Journeys enters into an agreement with Traveler plc to lease a car on December 31, 2018.
The following information relates to this agreement.

1. The term of the non-cancelable lease is 3 years with no renewal or bargain purchase
option. The remaining economic life of the car is 3 years, and it is expected to have no
residual value at the end of the lease term.
2. The fair value of the car was £15,000 at commencement of the lease.
3. Annual payments are required to be made on December 31 at the end of each year of the
lease, beginning December 31, 2019. The first payment is to be of an amount of
£5,552.82, with each payment increasing by a constant rate of 5% from the previous
payment (i.e., the second payment will be £5,830.46 and the third and final payment will
be £6,121.98).
4. DU Journeys' incremental borrowing rate is 8%. The rate implicit in the lease is
unknown.
5. DU Journeys uses straight-line depreciation for all similar cars.

Instructions
a. Prepare DU Journeys' journal entries for 2018, 2019, and 2020.
Present value of first payment
(£5,552.82 X.92593)........ £ 5,141.52
Present value of second payment
(£5,830.46 X.85734)......... 4,998.69
Present value of third payment
(£6,121.98 X.79383)........ 4,859.81
Present value of the rental payments £15,000.00*
*Two cents rounding error.

12/31/18
Right-of-Use Asset.......... 15,000
Lease Liability…………..15,000
 12/31/19
Interest Expense (£15,000 X 8%) 1,200.00
Lease Liability.................... 4,352.82
Cash………………. 5,552.82

Depreciation Expense (£15,000 ÷ 3) 5,000.00

Right-of-Use Asset……… 5,000.00
12/31/20
Interest Expense 851.77
[(£15,000 - £4,352.82) X 8%]
Lease Liability............... 4,978.69

Cash……… 5,830.46
Depreciation Expense (£15,000 = 3) 5,000.00
Right-of-Use Asset……….. 5,000.00

b. Assume, instead of a constant rate of increase, the annual lease payments will increase
according to a price index. At its current level, the price index stipulates that the first
rental payment should be £5,820. What would be the impact on the journal entries made
by DU Journeys at commencement of the lease, as well as for subsequent years?

Penilaian awal liabilitas sewa dan aset hak-guna terkait tidak boleh mencakup kenaikan atau
penurunan yang tidak diketahui dalam pembayaran sewa karena kenaikan atau penurunan CPI.
Sebaliknya, untuk pengukuran awal liabilitas sewa, penyewa mengasumsikan bahwa semua
pembayaran akan dilakukan seolah-olah tingkat CPI pada tanggal dimulainya sewa tidak
berubah. Dengan demikian, DU Journeys harus mendiskontokan pembayaran sewa tahunan
menggunakan faktor anuitas biasa yang diterapkan pada pembayaran sewa pertama.

E21.3 (LO2) (Lessee Computations and Entries; Lease with Guaranteed Residual Value)
Delaney AG leases an automobile with a fair value of €10,000 from Simon Motors, on the
following terms.

1. Non-cancelable term of 50 months.

2. Rental of €200 per month (at the beginning of each month). (The present value at 0.5%
per month is €8,873.)
3. Delaney guarantees a residual value of €1,180 (the present value at 0.5% per month is
€920). Delaney expects the probable residual value to be €1,180 at the end of the lease
term.
 4. Estimated economic life of the automobile is 60 months.
5. Delaney's incremental borrowing rate is 6% a year (0.5% a month). Simon's implicit rate
is unknown.

Instructions
a. What is the present value of the lease payments to determine the lease liability?
PV pembayaran sewa, untuk tujuan menentukan liabilitas sewa bagi penyewa, harus
mencakup PV dari setiap nilai sisa yang dijamin yang kemungkinan terutang berdasarkan
perjanjian sewa (yaitu jumlah nilai sisa yang dijamin di atas nilai sisa yang diharapkan).
Karena nilai sisa yang diharapkan adalah sama dengan nilai sisa yang dijamin, tidak ada
jumlah yang mungkin terutang berdasarkan perjanjian sewa, dan nilai kini pembayaran
sewa untuk menentukan kelayakan sewa adalah:
PV pembayaran bulanan sebesar €200 selama 50 bulan = (€200 X 44.36350*] = €8,873
*PV dari anuitas-jatuh tempo 1 untuk 50 periode pada 0,5%.

b. Based on the original fact pattern, record the lease on Delaney's books at the date of
commencement.
Right-of-Use Asset 8,873
Lease Liability 8,873
c. Record the first month's lease payment (at commencement of the lease).
Lease Liability 200
Cash 200
d. Record the second month's lease payment.
Lease Liability 157
Interest Expense (0.5% X [€8,873 – €200]) 43
Cash 200
e. Record the first month's amortization on Delaney's books (assume straight-line).
Amortization Expense 177
Right-of-Use Asset 177
(€8,873 ÷ 50 bulan = 177,46 dibulatkan menjadi 177)

f. Suppose that instead of €1,180, Delaney expects the residual value to be only €500 (the
guaranteed amount is still €1,180). How does the calculation of the present value of the
lease payments change from part E21.3b.?
Seperti yang dijelaskan pada bagian (a), penyewa harus memasukkan nilai kini
dari setiap nilai sisa yang dijamin yang kemungkinan terutang berdasarkan perjanjian
sewa. Karena nilai residu yang diharapkan (€500) kurang dari nilai residu yang dijamin
(€1.180), Delaney harus memasukkan nilai kini dari selisih dalam pengukuran awal
liabilitas sewa. Dengan demikian, nilai sekarang dari pembayaran sewa dihitung sebagai
berikut:
● PV of monthly payment of €200 for 50 months
= [€200 X 44.36350*] = €8,873
● PV of guaranteed residual value probable to be owed
= [(€1,180 - €500) X 0.77929**] = 530
 ● PV of lease payments = €9,403
*Present value dari anuitas yang jatuh tempo 1 untuk 50 periode sebesar 0,5%

E21.4 (LO2) (Lessee Entries; Unguaranteed Residual Value)

Assume that on December 31, 2018, Stora Enso (FIN) signs a 10-year, non-cancelable lease
agreement to lease a storage building from Sheffield Storage. The following information pertains
to this lease agreement.

1. The agreement requires equal rental payments of €71,830 beginning on December 31,
2018.
2. The fair value of the building on December 31, 2018, is €525,176.
3. The building has an estimated economic life of 12 years, a guaranteed residual value of
€10,000, and an expected residual value of €7,000. Stora Enso depreciates similar
buildings using the straight-line method.
4. The lease is non-renewable. At the termination of the lease, the building reverts to the
lessor.
5. Stora Enso's incremental borrowing rate is 8% per year. The lessor's implicit rate is not
known by Stora Enso.

Instructions
a. Prepare the journal entries on the lessee's books to reflect the signing of the lease
agreement and to record the payments and expenses related to this lease for the years
2018, 2019, and 2020. Stora Enso's fiscal year-end is December 31.
12/31/18
Right-of-Use Asset 521,934
Lease Liability 521,934
Lease Liability 71,830
Cash 71,830
12/31/19
Depreciation Expense 52,193
Right-of-Use Asset 52,193
Lease Liability 35,822
Interest Expense (See Schedule 1) 36,008
Cash 71,830
12/31/20
Depreciation Expense 52,193
Right-of-Use Asset 52,193
Lease Liability 38,687
Interest Expense (See Schedule 1) 33,143
Cash 71,830
b. Suppose the same facts as above, except that Stora Enso incurred legal fees resulting
from the execution of the lease of €5,000, and received a lease incentive from Sheffield to
enter the lease of €1,000. How would the initial measurement of the lease liability and
right-of-use asset be affected under this situation?
Initial direct costs and lease incentives do not affect the initial measurement of the lease
liability. Instead, they only affect the measurement of the right-of-use asset. Initial direct
costs incurred by the lessee increase the right-of-use asset, whereas a lease incentive
decreases the value of the right-of-use asset. The Calculation of the right-of-use asset is
as follows:
€521,934 Lease liability
- 1,000 Lease incentive
+ 5,000 Legal fees
€ 525,934Right-of-use asset
c. Suppose that in addition to the €71,830 annual rental payments, Stora Enso is also
required to pay €5,000 for insurance costs each year on the building directly to the lessor,
Sheffield Storage. How would this executory cost affect the initial measurement of the
lease liability and right-of-use asset?
The annual insurance payments of €5,000 are considered part of the annual payments to
the lessor similar to the rental payments, as they do not transfer a separate good or service
to the lessee, but rather are part of the payment to use the leased asset and are attributable
to the lease component. Therefore, the present value of the €5,000 annual payments
should be included in the initial measurement of the lease liability, and thus the
right-of-use asset as well. The Calculation is as follows:
€71,830 Annual rental payment
X 7.24689 PV of annuity-due of 1 for n = 10, i = 8%
€520,544 PV of periodic rental payments

€5,000 Annual insurance payment

X 7.24689 PV of annuity-due of 1 for n = 10, i = 8%
€36,234 PV of periodic insurance payments

€ 3,000 Amount probable to be owed under residual value guarantee

(€10,000 - €7,000)
X .46319 PV of 1 for n = 10, i = 8%
€ 1,390 PV of amount probable to be owed of residual value guarantee

€520,544 PV of periodic rental payments

+36,234 PV of periodic insurance payments
+ 1,390 PV of the residual value
€ 558,168 Lease liability
 Note how the inclusion of the executory costs leads to an inflated lease liabilityand
related right-of-use asset. Additionally, note that had the insurancepayments been
variable, they would not have been included at all in themeasurement of the lease
liability, which would have led to a very different initialmeasurement of the liability and
asset.

d. Return to the original facts in the problem. Now suppose that, at the end of the lease term,
Stora Enso took good care of the asset and Sheffield agrees that the fair value of the asset
is actually €10,000. Record the entry for Stora Enso at the end of the lease to return
control of the storage building to Sheffield (assuming the accrual of interest on the lease
liability has already been made).
Because Stora Enso expected the residual value of the asset at the end of thelease to be
€7,000, it expected to owe Sheffield an additional €3,000 in addition toreturning the asset
under the residual value guarantee. Thus, Stora Enso has a lease liability of €3,000
remaining on the books. However, the value of the assetcovers the entire guarantee, and
thus no additional cash payment is required byStora Enso. As a result, they will book a
gain, as shown below:
Lease Liability 3,000
Gain on Lease 3,000

E21.5 (LO3) (Computation of Rental; Journal Entries for Lessor)

Morgan Leasing Group signs an agreement on January 1, 2019, to lease equipment to Cole plc.
The following information relates to this agreement.

1. The term of the non-cancelable lease is 6 years with no renewal option. The equipment
has an estimated economic life of 6 years.
2. The cost of the asset to the lessor is £245,000. The fair value of the asset at January 1,
2019, is £245,000.
3. The asset will revert to the lessor at the end of the lease term, at which time the asset is
expected to have a residual value of £24,335, none of which is guaranteed.
4. The agreement requires equal annual rental payments, beginning on January 1, 2019.
5. Collectibility of the lease payments by Morgan is probable.

Instructions
(Round all numbers to the nearest pound.)

a. Assuming the lessor desires an 8% rate of return on its investment, calculate the amount
of the annual rental payment required. (Round to the nearest pound.)
b. Prepare an amortization schedule that is suitable for the lessor for the lease term.
 c. Prepare all of the journal entries for the lessor for 2019 and 2020 to record the lease
agreement, the receipt of lease payments, and the recognition of revenue. Assume the
lessor's annual accounting period ends on December 31, and it does not use reversing
entries.

a. F ​ air value of leased asset to lessor £245,000

Less: Present value of unguaranteed
​residual value £24,335 X .63017
​(present value of 1 at 8% for 6 periods)15,335
​Amount to be recovered through lease payments £229,665
b.
Date Annual Lease Interest 8% Recovery of Lease
Payment Plus Lease Receiveable
URV Receivable

1/1/19 245.000

1/1/19 46,000 0 46,000 199,000

1/1/19 46,000 15,920 30,080 168,920

1/1/19 46,000 13,514 32,486 136,434

1/1/19 46,000 10,915 35,085 101,349

1/1/19 46,000 8,08 37,892 63,457

1/1/19 46,000 5,77 40,923 22,534

1/1/19 46,000 1,801 22,534 0

Total 300.335 55,335 245,000

c. 1/1/19
Lease Receivable 245,000
Cost of Goods Sold 229,665
Sales Revenue 229,665
Inventory 245,000
Cash 46,000
Lease Receivable 46,000
12/31/19
Lease Receivable 15,920
 Interest Revenue 15,920
1/1/20
Cash 46,000
Lease Receivable 46,000
12/31/20
Lease Receivable 13,514
Interest Revenu 13,514

E21.6 (LO3) (Lessor Entries; Sales-Type Lease with Option to Purchase)

Castle Leasing Company signs a lease agreement on January 1, 2019, to lease electronic
equipment to Jan Way Company. The term of the non-cancelable lease is 2 years, and payments
are required at the end of each year. The following information relates to this agreement.
1. Jan Way has the option to purchase the equipment for $16,000 upon termination of the
lease. It is not reasonably certain that Jan Way will exercise this option.
2. The equipment has a cost of $120,000 and fair value of $160,000 to Castle Leasing. The
useful economic life is 2 years, with a residual value of $16,000.
3. Castle Leasing desires to earn a return of 5% on its investment.
4. Collectibility of the payments by Castle Leasing is probable.

Instructions
a. Prepare the journal entries on the books of Castle Leasing to reflect the payments
received under the lease and to recognize income for the years 2019 and 2020.
b. Assuming that Jan Way exercises its option to purchase the equipment on December 31,
2020, prepare the journal entry to record the sale on Castle Leasing's books.
Jawaban:

Perhitungan pembayaran tahunan.

Nilai wajar aset sewaan kepada lessor $160.000
Dikurangi: nilai kini dari nilai residual ($16.000 X 0,90703) $14.512
Jumlah yang akan dipulihkan melalui pembayaran sewa $145.488

Dua periode pembayaran sewa ($145.487,52 : 1,85941) $78.244

Castle akan mengklasifikasikan sewa tersebut sebagai sewa tipe penjualan, karena perjanjian
tersebut memenuhi uji nilai sekarang ($145.488 : $160.000 = 91% yang lebih besar dari 90%)
dan uji masa sewa (2/2 = 100%) yang lebih besar dari 75%

Castle Leasing Company (Lessor)

 Lease Amortization Schedule

Tanggal Annual Lease Interest (5%) on Recovery of Lease

Payment Lease Lease Receivable
Receivable Receivable

1/1/19 160.000

31/12/19 78.244 8.000 70.244 89.756

31/12/20 78.244 4.488 73.756 16.000

31/12/20 16.000 0 16.000 0

a. 1/1/19
Lease Receivable (78.244 x 1.85941) + (16.000 x 0.90703) 160.000
Cost of Goods sold (120.000 - (16.000 x 0.90703)) 105.488
Sales revenue (160.000 - (16.000 x 0.90703) 145.488
Inventory 120.000

31/12/19
Kas 78.244
Lease receivable 70.244
Interest revenue 8.000

31/12/20
Kas 78.244
Lease Receivable 73.756
Interest revenue 4.488

b. 31/12/20
Kas 16.000
Lease Receivable 16.000