LATIHAN TM 1

AKUNTANSI MENENGAH II

DOSEN PENGAJAR :
Ratna Mappanyukki, Dr. SE. Ak. M.Si.

DISUSUN OLEH :
Nisha Nur Aini (43219110183)

FAKULTAS EKONOMI DAN BISNIS

PROGRAM STUDI S1 AKUNTANSI
UNIVERSITAS MERCU BUANA
 Exercises dan Problem Ch 13
(CURRENT LIABILITIAS, PROVISION AND CONTINGENCIES)

LEARNING OBJECTIVE
1. Menjelaskan sifat, jenis, dan penilaian liabilitas lancar.
EXERCISES
E13.1 (LO 1) (Statement of Financial Position Classification) Consider the following
items.
a. Accrued vacation pay.
b. Income taxes payable.
c. Service-type warranties on appliance sales.
d. Social Security taxes payable.
e. Personal injury claim pending.
f. Unpaid bonus to officers.
g. Deposit received from customer to guarantee performance of a contract.
h. Value-added tax payable.
i. Gift certificates sold to customers but not yet redeemed.
j. Premium offers outstanding.
k. Accounts payable.
l. Employee payroll deductions unremitted.
m. Current maturities of long-term debts to be paid from current assets.
n. Cash dividends declared but unpaid.
o. Dividends in arrears on preference shares.
p. Loans to officers.
Instructions
How would each of the preceding items be reported on the statement of financial position?
Jawaban:
a. Current liability.
b. Current liability.
c. Current liability (Bisa juga masuk kedalam utang tidak lancar, tergantung pada jangka
waktu jaminan).
d. Current liability.
e. Footnote disclosure.
f. Current liability.
g. Current liability (Bisa juga masuk kedalam utang tidak lancar, tergantung pada jangka
waktu jaminan).
h. Current liability.
i. Current liability.
j. Current liability.
k. Current liability.
l. Current liability.
m. Current liability.
n. Current liability.
o. Footnote disclosure.
p. Separate presentation in either current or non-current liability section

E13.2 (LO 1) (Accounts and Notes Payable) The following are selected 2022 transactions
of Darby Corporation.
Sept. 1 Purchased inventory from Orion Company on account for $50,000. Darby records
purchases gross and uses a periodic inventory system.
Oct. 1 Issued a $50,000, 12-month, 8% note to Orion in payment of account.
Oct. 1 Borrowed $75,000 from the Shore Bank by signing a 12-month, zero-interest-bearing
$81,000 note.
Instructions
a. Prepare journal entries for the selected transactions above.
b. Prepare adjusting entries at December 31.
c. Compute the total net liability to be reported on the December 31 statement of financial
position for:
1. The interest-bearing note.
2. The zero-interest-bearing note.
Jawaban:
a. Prepare journal entries for the selected transactions above.
Sept. 1 Purchase……………………………………………………$ 50,000
Accounts Payable – Orion Company………………………………$ 50,000

Oct. 1 Accounts Payable – Orion Company……………………….$ 50,000

Notes Payable – Orion Company………………………………….$ 50,000
Oct. 1 Cash…………………………………………………………$ 75,000
Notes Payable – Shore Bank…………………………………...….$ 75,000
b. Prepare adjusting entries at December 31.
Dec. 31 Interest Expense…………………………………………..$ 1,000
Interest Payable……………………………………………………$ 1,000
=>> ($ 50,000 x 8% x 3/12 = $ 1,000)
Dec. 31 Interest Expense…………………………………………..$ 1,500
Notes Payble – Orion Company………………………………….$ 1,500
=>> ($ 81,000 - $ 75,000 = $ 6,000) >> ($ 6,000 x 3/12 = $ 1,500)
c. Compute the total net liability to be reported on the December 31 statement of
financial position for:
1. The interest-bearing note.
Notes Payable – Orion Company…………………………$ 50,000
Interest Payable……………………………………………$ 1,000
$ 51,000
2. The zero-interest-bearing note.
Notes Payable – Shore Bank……………………………….$ 76,500
=>> Notes Payable ($ 75,000 + $ 1,500 = $ 76,500)
 PROBLEMS
P13.1 (LO 1) (Current Liability Entries and Adjustments)
Described below are certain transactions of Edwardson AG. The company uses the periodic
inventory system.
1. On February 2, the company purchased goods from Martin Company for €70,000
subject to cash discount terms of 2/10, n/30. Purchases and accounts payable are
recorded by Edwardson at net amounts after cash discounts. The invoice was paid on
February 26.
2. On April 1, the company bought a truck for €50,000, paying €4,000 in cash and
signing a 1-year, 12% note for the balance of the purchase price.
3. 3. On August 1, the board of directors declared a €300,000 cash dividend that was
payable on September 10 to shareholders of record on August 31.
Instructions
a. Make all the journal entries necessary to record the transactions above using
appropriate dates.
b. Edwardson’s year-end is December 31. Assuming that no adjusting entries relative to
the transactions above have been recorded, prepare any adjusting journal entries
concerning interest that are necessary to present fair financial statements at December
31.
Jawaban:
a. Make all the journal entries necessary to record the transactions above using
appropriate dates.
Feb. 2 Purchases ($70,000 X 98%) .............................................$ 68,600
Accounts Payable ...........................................................................$ 68,600
Feb. 26 Accounts Payable............................................................$ 68,600
Purchase Discounts Lost.................................................................$ 1,400
Cash.................................................................................................$ 70,000
April. 1 Trucks..............................................................................$ 50,000
Cash.................................................................................................$ 4,000
Notes Payable..................................................................................$ 46,000
Aug.1 Retained Earnings…………………………….................$ 300,000
Dividends Payable .......................................................................$ 300,000
Sept. 10 Dividends Payable.........................................................$ 300,000
Cash...............................................................................................$ 300,000
b. Edwardson’s year-end is December 31. Assuming that no adjusting entries relative to
the transactions above have been recorded, prepare any adjusting journal entries
concerning interest that are necessary to present fair financial statements at December
31.
1. Tidak ada jurnal adjustment yang dibutuhkan.
2. Interest Expense ($46,000 X 12% X 9/12) ..............................$ 4,140
Interest Payable ........................................................................................$ 4,140
3. Tidak ada jurnal adjustment yang dibutuhkan.
P13.2 (LO 1, 2) (Liability Entries)
Listed below are selected transactions of Schultz Department Store for the current year
ending December 31.
1. On December 5, the store received €500 from the Jackson Players as a deposit to be
returned after certain furniture to be used in stage production is returned on January
15.
2. During December, cash sales totaled €798,000, which includes the 5% VAT that must
be remitted to the tax authority by the fifteenth day of the following month.
3. On December 10, the store purchased for cash three delivery trucks for €120,000. The
trucks were purchased in a jurisdiction that applies a 5% VAT.
4. The store determined it will cost €100,000 to restore the area surrounding one of its
store parking lots, when the store is closed in 2 years. Schultz estimates the fair value
of the obligation at December 31 is €84,000.
Instructions
Prepare all the journal entries necessary to record the transactions noted above as they
occurred and any adjusting journal entries relative to the transactions that would be required
to present fair financial statements at December 31. Date each entry. For simplicity, assume
that adjusting entries are recorded only once a year on December 31.
Jawaban:
1. Dec. 5 Cash...............................................................................$ 500
Returnable Deposit (Liability) .........................................$ 500
2. Dec. 1-31 Cash..........................................................................$ 798,000
Sales ($798,000 ÷ 1.05) ...................................................$ 760,000
Sales Taxes Payable ($760,000 X .05)..............................$ 38,000
3. Dec. 10 Trucks ($120,000 X 1.05)............................................$ 126,000
Cash...................................................................................$ 126,000
4. Dec. 31 Parking Lot...................................................................$ 84,000
Environmental Liability ....................................................$ 84,000
LEARNING OBJECTIVE
2. Menjelaskan isu-isu pengelompokan utang jangka pendek yang diharapkan dapat
dibiayai kembali (refinanced).
EXERCISES
E13.3 (LO 1) (Refinancing of Short-Term Debt)
On December 31, 2021, Alexander AG had €1,200,000 of short-term debt in the form of
notes payable due February 2, 2022. On January 21, 2022, the company issued 25,000
ordinary shares for €36 per share, receiving €900,000 proceeds after brokerage fees and other
costs of issuance. On February 2, 2022, the proceeds from the share sale, supplemented by an
additional €300,000 cash, are used to liquidate the €1,200,000 debt. The December 31, 2021,
statement of financial position is authorized for issue on February 23, 2022.
Instructions
Show how the €1,200,000 of short-term debt should be presented on the December 31, 2021,
statement of financial position.
Jawaban:
ALEXANDER COMPANY
Statement of Financial Position
December 31, 2010

Current Liabilities :
Notes Payable € 1,200,000
LEARNING OBJECTIVE
3. Mengidentifikasi jenis-jenis liabilitas terkait karyawan.
EXERCISES
E13.10 (LO 1) (Payroll Tax Entries)
The payroll of Kee Ltd. for September 2022 is as follows (amounts in thousands): total
payroll was ¥340,000; income taxes in the amount of ¥80,000 were withheld, as was ¥9,000
in union dues; and the current Social Security tax is 8% of an employee’s wages. The
employer must also remit 8% for employees’ wages.
Instructions
Prepare the necessary journal entries if the salaries and wages paid and the employer payroll
taxes are recorded separately.
Jawaban:
>> Perhitungan Pajak
Factory
Wages............................................... $140,000
Social security taxes ......................... 11,200 (8% X $140,000)
Total Cost .........................................$151,200
Sales
Wages............................................... $32,000
Social security taxes ........................ 2,560 (8% X 32,000)
Total Cost ........................................ $34,560
Administrative
Wages............................................... $36,000
Social security taxes ........................ 2,880 (8% X $36,000)
Total Cost ........................................ $38,880

Jadwal
Total Factory Sales Administrative
Wages $208,000 $140,00 $32,000 $36,000
Social Security 16,640 11,200 2,560 2,880
Total Cost $224,640 $151,200 $34,560 $38,880
Journal Entries:
Factory Payroll:
Wages and Salaries Expense......................................$140,000
Withholding Taxes Payable ..........................................$ 16,000
Social Security Taxes Payable.......................................$ 11,200
Cash...............................................................................$112,800

Payroll Tax Expense ..................................................$ 11,200

Social Security Taxes Payable.......................................$ 11,200
Sales Payroll:
Wages and Salaries Expense......................................$ 32,000
Withholding Taxes Payable ..........................................$ 7,000
Social Security Taxes Payable.......................................$ 2,560
Cash...............................................................................$ 22,440
Payroll Tax Expense .................................................$ 2,560
Social Security Taxes Payable.......................................$ 2,560
Administrative Payroll:
Wages and Salaries Expense.....................................$ 36,000
Withholding Taxes Payable ..........................................$ 6,000
Payable .........................................................................$ 2,880
Cash...............................................................................$ 27,120
Payroll Tax Expense ................................................$ 2,880
Social Security Taxes Payable.......................................$ 2,880
 PROBLEMS
P13.4 (LO 1) (Payroll Tax Entries)
Below is a payroll sheet for Otis Import plc for the month of September 2022. Assume a 10%
income tax rate for all employees and an 8% Social Security tax on employee and employer.
Name Earnings September Income Tax Social
to Aug. 31 Earnings Withholding Security

B.D. Williams £6,800 £800

D. Raye 6,500 700
K. Baker 7,600 1,100
F. Lopez 13,600 1,900
A. Daniels 105,000 13,000
B. Kingston 112,00 16,000

Instructions
a. Complete the payroll sheet and make the necessary entry to record the payment of the
payroll.
b. Make the entry to record the payroll tax expenses of Otis Import.
c. Make the entry to record the payment of the payroll liabilities created. Assume that
the company pays all payroll liabilities at the end of each month.
Jawaban:
Name Earnings September Income Tax Social
to Aug. 31 Earnings Withholding Security

B.D. Williams £6,800 £800 80 64

D. Raye 6,500 700 70 56
K. Baker 7,600 1,100 110 68
F. Lopez 13,600 1,900 190 152
A. Daniels 105,000 13,000 1,300 1,040
B. Kingston 112,000 16,000 1,600 1,280
Total 251,500 33,500 3,350 2,680
a. Complete the payroll sheet and make the necessary entry to record the payment of
the payroll.

=>> 13,000 X 1.45% = 188.50

=>> 16,000 X 1.45% = 232.00
Wages and Salaries Expense .............................................. 33,500
Withholding Taxes Payable .................................................... 3,350
Social Security Taxes Payable ................................................ 2,680
Cash......................................................................................... 27,470
b. Make the entry to record the payroll tax expenses of Otis Import.
Payroll Tax Expense ........................................................... 2,680
Social Security Taxes Payable ................................................ 2,680

c. Make the entry to record the payment of the payroll liabilities created. Assume that
the company pays all payroll liabilities at the end of each month.
Withholding Taxes Payable.................................................. 3,350
Social Security Taxes Payable ............................................. 5,360
Cash........................................................................................... 8,710