TUGAS UTS INTERMEDIATE ACCOUNTING 1

KELOMPOK 6 :
1. 210503018 Mikhael Radot Simamora
2. 210503005 Margareth Zhandra Trixie Hulu
3. 210503010 Desi Mailani
4. 210503029 Juni Dwi Kartika Hulu
QUESTION

From the following data, you must prepare a Statement of Cash Flows for 2021, Statement of Financial Position as it would app
and how might the statement of cas

Bintang Inc.
Statement of Financial Position
December 31, 2020
Investment $ 160.000 Share Capital-Ordinary $ 500.000
Plant Assets (net) 405,000 Retained Earnings 116,000
Land 225,000 Bond Payable 230,000
Account Receivable 111,000 Account Payable 155,000
Cash 100,000
1,001,000 1,001,000

During 2021 , the following occurred .

a. Bintang Inc. sold part of its investment portfolio for $ 75.000 . this transaction resulted in a gain of $ 17.000 for the firm .
The company classifies its investments as non - trading equity .
b. Long term notes payable in the amount of $ 85.000 were retired before maturity by paying $ 85.000 cash.
c. Dividends totaling $ 41.500 were declared and paid to shareholders .
d. Land was purchased through the insurance of $ 150.500 in bonds
e. A tract of land was purchased for $ 90.000 at credit
f. An additional $ 110.000 in ordinary shares were issued at par .
g. Net income for 2021 was $ 160.000 after allowing for depreciation of $ 55.000
h. At December 31 , 2021 , cash was $ 165.000 , Accounts Receivable was $ 208.500 , and Accounts payable remained at $ 1

ANSWER

Bintang Inc.
Statement of Cash Flow
December 31, 2021

Cash Flow from Operating Activity

Net Income
Adjustment to reconcile net income to
net cash provided by Operating Activity
Depreciation Expense 55,000
Gain on Sale Investment (17,000)
Increase in Account Receivable (97,500)
Net Cash Provided by Operating Activities

Cash Flow from Investing Activity

Sale of Investment
Net Cash Provided from Investing Activity
Cashflow from Financing Activity
Retirement of Long Term Notes Payable
Payment of Cash Dividends
Issuance of Ordinary Shares
Net Cash Used for Financing Activities
Increase in Cash
Cash at Beginning of The Year
Cash at The End of The Year

Statement of Cash Flow can help the user of financial statement to see if the company is able to pay off
their liabilities by looking from net cash provided by operating activities. To see the company's ability, they
can use Cash Flow Ratio. If the ratio is under 1, it means they do not have a good ability,
and if the ratio is above 1, the company has ability to pay off their liabilities with those cash.

Cash flow ratio :

Cash Flow From Operating Activity 100,500

=
Average Current Liabilities 200,000
= 0.503

Cash Flow From Operating Activity 100,500

=
Non Current Liabilities 295,500
= 0.340
Financial Position as it would appear at December 31, 2021,

a gain of $ 17.000 for the firm .

g $ 85.000 cash.

Accounts payable remained at $ 155.000 .

Bintang Inc.
Statement of Financial Position
December, 31 2021

Assets
160,000 Non Current Assets
Long Term Investment
Investment in securities (non trading)

Property, Plant and Equipment

(59,500) Plant Asset (net) $405,000
100,500 Less : Accumulated Depreciation (55,000)
Land
Total Non Current Assets
75,000
75,000 Current Assets
 Account Receivables $208,500
Cash $259,000
(85,000) Total Current Assets
(41,500) Total Assets
110,000
(16,500) Equity and Liabilities
159,000 Equity
100,000 Share Capital-Ordinary $610,000
259,000 Retained Earnings $234,500
Total Equity

ble to pay off Liabilities

pany's ability, they Non Current Liabilities
Bonds Payable $380,500
Long Term Notes Payable (85,000)

Current Liabilities
Accounts Payable $245,000
Total Liabilities
Total Equity and Liabilities
n

Investment 160,000
(75,000)
17,000
$102,000 102,000

Plant asset (net) 405,000

(55,000)
$350,000 350,000
$465,500
$917,500 Land 225,000
150,500
90,000
 465,500

$467,500
$1,385,000

$844,500

$540,500
$1,385,000
Share Capital-Ordinar 500,000
110,000
610,000

Retained Earnings 116,000

160,000
(41,500)
234,500

Bonds Payable 230,000

150,500
380,500
Accounts Payable 155,000
90,000
245,000
QUESTION

The cash account of B Co. showed a ledger balance of $ 15,879.40 on 30 , 2020. The bank statement as of that date showed a
balance of $ 14.299,80 .
Upon comparing the statement with the cash records , the following facts were determined .
1. There were bank service charges for June of $ 150 . 3. Receipts for June 30 for $ 13,650 were not deposited until July 2 .
2 . A bank memo stated that Dai's note for $ 4,800 and interest of $ 144 had been collected on June 29 , and the bank had
made a charge of $ 22,50 on the collection.
( No entry had been on Bs books when Dai's note was sent to the bank for collection ) .
3. Receipts for June 30 for $ 13,650 were not deposited until July 2 .
4. Checks outstanding on June 30 totaled $ 8,554.50 .
5 . The bank had charged the B Co.'s account for a customer's uncollectible check amounting to $ 1,015.80 on June 29 .
6 . A customer's check for $ 270 had beed entered as $ 245 in the cash receipts journal by B on June 15
7. Check no.757 in the amount of $ 1955 had been entered in the cash journal as $ 1,595 , and check no . 768 in the
amount of 232,80 had been entered as $ 328.
Both checks had been issued to pay for purchases of equipment .

Instructions
( a ) Prepare a Bank Reconciliation dated June 30 , 2020 , proceeding to a correct cash balance .
( b ) Prepare any entries necessary to make the books correct and complete .

ANSWER

B Co
Bank Reconciliation
June 30, 2020

Balance as per Bank Statement $14,299.8 Balance as per Company Books $15,879.4
Add Add
Deposit in Transit 13,650 Note collected 4,800
Interest Revenue 144
Less Error in recording check 25
Check Outstanding 8,554.5 Error in recording check no 768 95.2 5,064.2

Adjusted balance $19,395.3 Less

Bank Service Charge 172.5
NSF Check 1,015.8
Error in recording check no 757 360 1,548.3

Adjusted balance $19,395.3

ADJUSTMENT JOURNAL FOR BANK RECONCILIATION

Office Expense-Bank Service Charge $150.0

Cash $150.0
Cash $4,921.5
Office Expense-Bank Service Charge $22.5
Notes receivable $4,800.0
Interest revenue $144.0
Accounts Payable-NSF Check $1,015.8
Cash $1,015.8
Cash $25.0
Accounts Receivable-Error recording check $25.0
Accounts Payable - Error in Recording Check no 757 $360.0
Cash $360.0
Cash $95.2
Accounts Payable - Error in Recording Check no 768 $95.2
TOTAL $6,590.0 $6,590.0
QUESTION

Furqan Resort opened for bussines Resort on July, 2020. Its trial balance on september 30, 2020 is

Furqan Resort
Trial Balace
September 30, 2020
Debit Credit
Cash $39.200
Prepaid insurance 9,500
Supplies 5,200
Land 40,000
Cottages 240,000
Furniture 32,000
Account payable $9.500
Unearned rent revenue 9,200
Mortgage payable 100,000
Share capital-ordinary 200,000
Retained earnings 0
Dividends 10,000
Rent Revenue 172,400
Salaries expense 89,600
Utilities Expense 18,400
Repair expense 7,200
$491.100 $491.100

Other data
a. The balance prepaid insurances is a one year premium paid on July 1, 2020
b. Annual deppreciation rates are cottage (4%) and furniture (10%). Residual value is estimated to be 10% of cost.
c. An inventory count on september 30 shows $1,355 of supplies on hand.
d. Salaries of $755 were unpaid at september 30.
e. Unearned rent revenue of $7,650 was earned prior to september 30.
f. The mortgage note is dated 1/1/2020. The mortgage interest rate is 8% per year.
 g. Rentals of $1,650 were due from tenants at september 30.
Instruction:
(a) Journalize the adjusting entries on september 30 for 3 month
(b) Prepare an adjusted trial balance.

ANSWER

Furqan Resort Furqan Resort

Adjusment Journal Adjusted Trial Balan
September 30, 2020 September 30, 2020

Account D C Account
a Insurance Expense 2,375 Cash
Prepaid Insurance 2,375 Prepaid Insurance
b Depreciation Expense 2,160 Accounts Receivable
Accumulated Depreciation - Cottages 2,160 Supplies
Depreciation Expense 720 Land
Accumulated Depreciation - Furniture 720 Cottages
c Supplies Expense 3,845 Accumulated Depreciation - Cottages
Supplies 3,845 Furniture
d Salaries Expense 755 Accumulated Depreciation - Furniture
Salaries Payable 755 Accounts Payable
e Unearned Rent Revenue 7,650 Unearned Rent Revenue
Rent Revenue 7,650 Mortgage Payable
f Interest Expense 2,000 Salaries Payable
Interest Payable 2,000 Interest Payable
g Accounts (Rent) Receivable 1,650 Share Capital-Ordinary
Rent Revenue 1,650 Retained Earnings
TOTAL 21,155 21,155 Dividends
Rent Revenue
Salaries Expense
Utilities Expense
Repair Expense
Insurance Expense
Depreciation expense
Supplies Expense
Interest Expense
TOTAL
 Furqan Resort
Adjusted Trial Balance
September 30, 2020

ccount D C
$39,200
$7,125
$1,650
$1,355
$40,000
$240,000
n - Cottages $2,160
$32,000
n - Furniture $720
$9,500
$1,550
$100,000
$755
$2,000
$200,000
$0
$10,000
$181,700
$90,355
$18,400
$7,200
 $2,375
$2,880
$3,845
$2,000
OTAL $498,385 $498,385
QUESTION

PT X menjual alat alat mesin dan selalu menerima wesel tagih sebagai pembayaran.
PT X melakukan pemeriksaan kredit, dan mengenakan biaya bunga yang cukup rendah (1/2 dari 1%)
dibayar bulanan) pada wesel ini. PT X telah memilih untuk menggunakan opsi nilai wajar untuk salah satu
wesel ini, dan memiliki data berikut terkait dengan nilai tercatat dan nilai wajar atas wesel tersebut
(dalam ribuan).
Nilai Tercatat Nilai Wajar
31 December 2019 $55.000 $55.000
31 December 2020 $45.000 $44.500
31 December 2021 $38.000 $40.500

Saudara ditugaskan perusahaan untuk melakukan hal hal sebagai berikut:

(a) Pencatatan opsi nilai wajar atas notes receivable diatas selama 3 tahun per 31 desember tersebut
(b) Menyajikannya pada laporan posisi keuangan tahun 2020 dan
(c) Apa dampak dari pencatatan opsi nilai wajar atas wesel ini pada pendapatan PT X ditahun 2021

ANSWER
(a) Pencatatan atas nilai wajar notes receivavle selama 3 tahun per 31 Desember

December 31 No entry ( Nilai tercatat = Nilai wajar) -

2019 -
December 31 Unrealized Holding Gain/Loss - Income $500
2020 Notes Receivable $500
($45.000 - $44.500 = $500)
December 31 Notes Receivable $2.500
2021 Unrealized Holding Gain/Loss - Income $2.500
($40.500 - $38.000 = $2.500)

(b) PT X
Statement of Financial Position
December 2020
 Asset
xxx
xxx
Account Receivable $45.000
Decrease : Unrealized Holding Loss-Income ($500)

Total Asset xxx

Liability
xxx
xxx

Equity
xxx
xxx

Total Liability & Equity xxx

¥44,500 will be reported on PT X’s 2020 statement of financial position.

(c) The impact of recorded PT X's fair value option in 2021 is to increase 2021's revenue by $2,500