2015

MOJAKOE MOdul JAwaban KOEliah Akuntansi Keuangan 1 UAS Semester Ganjil 2014/2015

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Dilarang memperbanyak MOJAKOE ini tanpa seijin SPA FEB UI

Download MOJAKOE dan SPA Mentoring di http://spa-feui.com

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JAWABAN UAS AK1 2014/2015

Question 1 Part A 1. (Using Straight-Line Method for Exterior Structure and Interior Cabin and Unit of Production for Engines)  Depreciation of Exterior Structure for 2012



Depreciation of Interior Cabin for 2012



Depreciation of Engines for 2012

2. Journal entry for the repair, replacement and upgrade of the aircraft as January 1, 2013 Repairment 

Exterior Structure

$1,500,000

Cash 

Engine 2 (New) Acc. Depre Engine Loss on Disposal Old Engine Cash

$1,500,000 $3,000,000 $4,750,000 $5,250,000 $10,000,000 $3,000,000

Replacement 

Engine (New)

$12,000,000

Accumulated Depreciation

$4,750,000

Loss on disposal of Engine

$5,250,000

Cash

$12,000,000

Engine (Old)

$10,000,000


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Upgrade 

Interior Cabin AccDepre Interior Cabinet Loss on Disposal Interior Cabin

$4,000,000 $16,000,000 $4,000,000 $20,000,000

Cash

$4,000,000

Part B Journal Entries for 2011 



Depreciation Expense – Equipment

$200,000,000

Accumulated Depreciation-Equipment

$400,000,000a

Accumulated Depreciation – Equipment

$200,000,000

Equipment

$300,000,000b

Surplus Revaluation

$100,000,000

a$200,000,000x2 b$1,200,000,000

- $900,000

Journal Entries for 2012 



Depreciation Expense – Equipment

$225,000,000

Accumulated Depreciation-Equipment

$225,000,000

Revaluation Surplus

$15,000,000

Accumulated Depreciation – Equipment

Equipment c$900,000,000

$225,000,000

$240,000,000c

- $660,000


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Question 2 Part 1 (a) Profit/ (loss) using fair value model. 20X1 = 0 20X2 = $40,000,000 20X3 = $10,000,000 20X4 = ($20,000,000)

(b) Using the cost model 20X1 = 0 20X2 = ($18,000,000) 20X3 = ($18,000,000) 20X4 = ($19,000,000)

Part 2 1. The Asset can be classified as non-current asset held for sale because they actively looking for a buyer, highly probable and completed in one year. Asset should be presented as current asset at statement of financial position 2. a.

Lower of CA or Fair value less cost to sell Fair Value Less Cost to sell = $240,000,000 - $10,000,000 = $230,000,000 CA= $200,000,000 - $20,000,0000= $180,000,000

b. NCA Held for Sale Loss due to reclassification Investment Property

$136,000,000 $104,000,000 $240,000,000


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Question 3 Part 1 1. January 1, 2013 Organizational Expense Cash 2. July 1, 2013 R & D Expense Cash 3. Amortization Expense – Patent Patent

$250,000,000 $250,000,000

$1,000,000,000 $1,000,000,000 $72,000,000 $72,000,000

Book Value 2013 = $720,000,000 – ($72,000,000 x $6,000,000) = $288,000,000 Loss on Litigation

$288,000,000 Patent

$288,000,000

Part 2 a. Cash

$1,545,700

Account Receivable

$159,450

Inventory

$116,250

Prepaid Expenses

$67,650

Land

$585,000

Building

$487,500

Equipment

$403,000 AFDA – A/R

Acc. Depr – Building

$7,980 $146,250


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Dilarang memperbanyak MOJAKOE ini tanpa seijin SPA FEB UI Acc. Depr – Equipment

Account Payable

$109,180

Bank Payable

$160,000

Cash

$2,950,000

Gain on Bargain Purchase

$89,460

$80,600

b. (Using Book Value) Asset + Goodwill = Liability + (Equity + Gain on Bargain Purchase) Goodwill = (Equity + Gain on Bargain Purchase) - Asset + Liability Goodwill = ($2,950,000 + $89,460) - $1,716,955 Goodwill = $1,322,505 Net Asset = $1,716,955 Recoverable Amount = $1,500,000 Impairment = $216,955 Journal:  Impairment Loss

$216,955

Goodwill

$216,955

c. Net Asset = $1,716,955 Recoverable Amount = $1,950,000 Net Asset < Recoverable Amount NO IMPAIRMENT LOSS

Question 4 a. Yes, because there’s past event which arises present obligation to pay provision

and it can be reliably estimated. The obligation is highly probable because they have clearly stated in their television advertisements and promotional brochures that they will make good any losses and it has been widely publicized.

b.

DrEnvironmental

Expense CrEnvironmental

XX Liability

XX

c. Yes, it does meet the recognition criteria of a liability because it’s an instruction from local government that we must obey.


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Dilarang memperbanyak MOJAKOE ini tanpa seijin SPA FEB UI d. Legal Expense

$200,000 Legal Liability

$200,000

e. Provision recognized when and only when: 

Entity has present obligation from past event (Legal or constructive)



It is probable, (Probability is more than 50%)



Reliable estimate can be made.

f. It is contingent liability because it is only possible (Possibility is 50% or less). It has to be disclosed in financial statement. We have to state in financial statement that there’s damage expense $ 5,

,

we have $16,000,000 contingent liability.

and lawyer fee $ ,

,

, so in total

Question 5 (a) Initial PVDBO

: 2000

Net Interest Cost

: 30 (100-70)

Service Cost

: 80

Actuarial

: (40)

Ending PVDBO

: 2070

Initial Plan Asset

: 1400

Other Return

: 30

Ending Plan Asset

: 1430

Net Defined Benefit Liability = Ending PVDBO – Ending Plan Asset = 2070 – 1430 = 640

Initial Net Defined Benefit

= 2000 – 1400=600


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Dilarang memperbanyak MOJAKOE ini tanpa seijin SPA FEB UI (b) Defined Benefit Plans (Imbalan Pasti) A defined benefit plan identifies the specific benefit that will be payable to you at retirement. Your basic retirement benefit is usually based on a formula that takes into account factors like the number of years a participant works for the employer (years of service) and the participant's salary. Your retirement benefit is generally provided in the form of regular payments over your lifetime beginning at what the plan calls "normal retirement age," which is typically age 65. This stream of periodic payments is generally known as a pension or sometimes called an annuity Defined Contribution Plans (Iuran Pasti) A defined contribution plan specifies how much money will go into a retirement plan today. The amount typically is either a percentage of an employee's salary or a specific dollar amount. Then, those funds often are invested in mutual funds available inside the retirement plan. The amount you have at retirement depends on how much your employer contributes to the plan, how much you as the employee save in the plan, how long you leave those funds invested, and how well your investments perform inside the plan.

(c) Defined Benefit Obligation measured by net interest expense, past service cost (including curtailment), settlement cost, current service cost, actuarial gain/loss, etc

Plan asset measured by contribution, benefit, excess return, and actuarial gain/loss.

(d) Asset ceiling is the present value of any economic benefits available in the form

of refunds from the plan or reductions in future contributions to the plan. (If plan asset > PVDBO).


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2015

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