PROBLEM Tugas AKM 2.doc

8/10/2019 PROBLEM Tugas AKM 2.doc

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Tugas Akuntansi Keuangan Menengah 2

Problem (Essay)-Statement of Cash Flo

P2!-" The following is Sullivan corps comparative statement of financial position accounts at December 31, 201

and 2009, with a column showing the increase decrease! from 2009 to 2010"

C#MPA$AT%&E STATEME'T #F F%'A'C%A P#S%T%#'

%nrease*2+"+ 2++, (*erease*)

propert#, plant and e$uipment % 3,30&,000 % 2,9'&,000 % 3(0,000

accumulated depreciation 1,1'),000! 1,0(0,000! 12),000!

e$uit# investment m#res co"! 310,000 2&),000 3),000

debt investment 2)0,000 * 2)0,000

inventories 1,+)0,000 1,&1),000 13),000

account receivable 1,12+,000 1,1'+,000 (0,000!

cash +1),000 &00,000 11),000

Total assets ./0,1/+++ 1/31/+++ "+/+++

Share capital*ordinar#, %1 par % )00,000 % )00,000 *Share premium*ordinar# 1,)00,000 1,)00,000 *

etained earnings 2,9&0,000 2,'+0,000 290,000

-inance lease obligation (00,000 * (00,000

.ccounts pa#able 1,01),000 9)),000 '0,000

/ncome taes pa#able 30,000 )0,000 20,000!

Dividends pa#able +0,000 100,000 20,000!

Total e$uit# and liabilities ./0,1/+++ 1/31/+++ "+/+++

A**itional information 4

1" n December 31, 2009, Sullivan ac$uired 2) of m#ers cos ordinar# shares for %2&),000" n that date, carr#ing value of m#erss assets and liabilities, which approiamated their fair values, was % 1,100,000" #

reported income of %1(0,000 for the #ear ended December 31, 2010" 4o dividend was paid on m#ers ordinar# sha

during the #ear"

2" During 2010, Sullivan loaned %300,000 to T56 6o", an unrelated compan# T56 made the first semiannual princi

repa#ment of %)0,000, plus interest at 10 on December 31, 2010"

3" n 7anuar# 2, 2010 sullivan sold e$uipment costing %'0,000 with a carr#ing amount of % 3+,000 for %(0,000 cash

(" n December 31, 2010, Sullivan entered into a finance lease for an office building, the present value of the ann

rental pa#ments is %(00,000, which e$uals the fair value of the building" Sullivan made the first rental pa#ment

%'0,000 when due on 7anuar# 2, 2011"

)" 4et income for 2010 was %3&0,000

'" Sullivan declared and paid cash dividends for 2010 and 2009 as shown below"

2+"+ 2++,

Declared Dec" 1), 2010 Dec 1), 2009

8aid -eb 2+, 2011 feb 2+, 2010

.mount %+0,000 %100,000

%nstrution


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8repare a statement of cash flows for Sullivan corp" for the #ear ended December 31, 2010, using the indirect method"

(sumber 4 E5 kieso/ 6onal* 7 eygan*t/ 7erry * arfiel*/ terry5 %nterme*iate Aounting %F$S e*ition &olume 2 )

P2!-2The comparative statements of financial position for inc:le# 6orporation show the following information

6eember !"

2+"+ 2++,

/nvestments % *0* % 3,000

;uilding *0* 29,&)0


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P2!-!ortonson compan# has not #et prepared a formal statement of cash flows for the 2010 fiscal #ear"

6omparative statement of financial position as of December 31, 2009 and 2010, and a statement of income and

retained earnings for the #ear ended December 31, 2010, are presented below and on page 129+"

M#$T#'S#' C#MPA'8

STATEME'T #F %'C#ME A'6 $ETA%'E6 EA$'%'9S

F#$ T:E 8EA$ E'6E6 6ECEM;E$ !"/ 2+"+

Sales % 3,+00


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.ccounts pa#able (20 330

/ncome taes pa#able (0 30

4otes pa#able 320 320

Total liabilities 9+0 ++0

Total e$uit# and liabilities 2/3+3 "/3,+

%nstrution

8repare a statement of cash flows using the direct method" 6hanges in accounts receivable and accounts pa#able relate

sales and cost of goods sold"


P2!-0 ichaels compan# had available at the end of 2010 the information below and on page 1299"

M%C:AES C#MPA'8

C#MPA$AT%&E STATEME'T #F F%'A'C%A P#S%T%#'

AS #F 6ECEM;E$ !"/ 2+"+ A'6 2++,

2+"+ 2++,

5and % 12),000 % 1&),000

;uilding 3)0,000 3)0,000

.ccumulated depreciation 10),000! +&,000!


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M%C:AES C#MPA'8

%'C#ME STATEME'T

F#$ T:E 8EA$ E'6E6 6ECEM;E$ !"/ 2+"+

Sales revenue % 1,1'0,000

6ost of goods sold &(+,000!

(12,000

?ross margin

perating epenses

Selling epenses % &9,200

.dministrative epenses 1)',&00

Depreciation@amorti=ation epense (0,)00

Total operating epense 2&',(00!

/ncome from operations 13),000

ther income and epense

?ain on sale of land +,000

?ain on sale of short*term investment (,000

Dividend revenue 2,(00 /nterest epense )1,&)0! 3&,3)0!

/ncome before taes 9+,2)0

/ncome ta epense 39,(00!

4et income )+,+)0

Dividends to ordinar# shareholders 2(,300!

To retained earnings !0/11+

%nstrution

8repare a statement of cash flows for ichaels compan# using the indirect method" .ssume the short*term investment

non*trading" ;ond premium amorti=ed was % ),))0"


P2!-16omparative statement of financial position accounts of arcus /nc" are 8resented belowA

.6BS /46"68..T/C< ST.T


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P2!-6omparative statement of financial position accounts of sharpe 6ompan# are presented below"

S.8< 68.4

68..T/C< ST.T


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a" 6ompute net cash provide b# operating, activities under the direct methodb" 8repare a statement of cash flows using the indirect method"


P2!-3 Dingel corporation has contracted with #ou to prepare a statement of cash flows" The controller has provid

the following information A

6eember !"

2+"+ 2++,

6ash % 3+,)00 % 13,000

.ccount receivable 12,2)0 10,000

/nventor# 12,000 10,000


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2! . recentl# formed firm that is eperiencing rapid growthE


Pr5 2!-"23FStatement of cash flows indirect method!"

The net changesin the balance sheet accounts of Geating 6orporation for the #ear 2011 are shown below"

.ccount Debit 6redit

6ash % +2,000Short*term investments %121,000.ccounts receivable +3,200.llowance for doubtful accounts 13,300/nventor# &(,2008repaid epenses 1&,+00/nvestment in subsidiar# e$uit# method! 20,0008lant and e$uipment 210,000.ccumulated depreciation 130,000.ccounts pa#able +0,&00.ccrued liabilities 21,)00Deferred ta liabilit# 1),)00

+ serial bonds +0,0006ommon stoc:, %10 par 90,000.dditional paid*in capital 1)0,000

etained earningsF.ppropriation for bonded indebtedness '0,000etained earningsFBnappropriated 3+,000

%'(3,'00 %'(3,'00

.n anal#sis of the etained


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Pr5 2!-"2,FStatement of cash flows direct and indirect methods!"

artman, /nc" has prepared the following comparative balance sheets for 2010 and 2011A

2+"" 2+"+

6ash % 29&,000 % 1)3,000eceivables 1)9,000 11&,000/nventor# 1)0,000 1+0,000

8repaid epenses 1+,000 2&,0008lant assets 1,2'0,000 1,0)0,000.ccumulated depreciation ()0,000! 3&),000!

8atent 1)3,000 1&(,000

%1,)+&,000 %1,32',000

.ccounts pa#able % 1)3,000 % 1'+,000

.ccrued liabilities '0,000 (2,000ortgage pa#able F ()0,0008referred stoc: )2),000 F.dditional paid*in capitalFpreferred 120,000 F6ommon stoc: '00,000 '00,000

etained earnings 129,000 '',000

%1,)+&,000 %1,32',000

1" The .ccumulated Depreciation account has been credited onl# for the depreciation epense for the period"

2" The etained


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6ash % 12),'00.ccounts receivable % '(,000.llowance for doubtful accounts 1(,000/nventor# 21&,2008repaid epenses 20,0005ong*term investments 1((,0005and 300,000;uildings '00,000achiner# 100,000ffice e$uipment 2+,000

.ccumulated depreciationA;uildings 2(,000achiner# 20,000ffice e$uipment 12,000

.ccounts pa#able 1+3,200

.ccrued liabilities &2,000Dividends pa#able 12+,0008remium on bonds 32,000;onds pa#able +00,0008referred stoc: %)0 par! '0,0006ommon stoc: %10 par! 1)',000

.dditional paid*in capitalFcommon 223,200

etained earnings +&,200%1,&0),200 %1,&0),200

A**itional informationA1" /ncome Statement Data for ear


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(sumber 4 E5 kieso/ 6onal* 7 eygan*t/ 7erry * arfiel*/ terry5 %nterme*iate aounting Thirteenth e*ition)


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S#@T%#' 4

P2!-"

S@%&A' C#$P5

Statement of Cash FlosFor the 8ear En*e* 6eember !"/ 2+"+

6ash flows from operating activities

4et income """"""""""""""""""""""""""""""""""""""""""""""""""""" %3&0,

.dHustments to reconcile net income

to net cash provided b# operating

activitiesA

Depreciation """"""""""""""""""""""""""""""""""""""""""" %1(&,000 a!

?ain on sale of e$uipment """""""""""""""""""" 2,000! b!


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8;5


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/ncrease in accounts receivable net! """ 3,&)0!II

/ncrease in inventor# """"""""""""""""""""""""""""" 3,000!

/ncrease in accounts pa#able """"""""""""""" 2,000 &,()0!

4et cash provided b# operating activities """ &,300

6ash flows from investing activities

Sale of investments """""""""""""""""""""""""""""""""""""""" (,&00

Sale of e$uipment """""""""""""""""""""""""""""""""""""""""" 2,)008urchase of e$uipment """""""""""""""""""""""""""""""""" 20,000!d!

8roceeds from flood damage to building """"" 32,000

4et cash provided b# investing activities """" 19,200

6ash flows from financing activities

8a#ment of dividends """""""""""""""""""""""""""""""""""" ),000!

8a#ment of short*term note pa#able """""""""""" 1,000!

4et cash used b# financing activities""""""""""" ',000!

/ncrease in cash """"""""""""""""""""""""""""""""""""""""""""""""""""" 20,)006ash, 7anuar# 1, 2010 """""""""""""""""""""""""""""""""""""""""""" 13,000

6ash, December 31, 2010 """""""""""""""""""""""""""""""""""""" %33,)00

IK%32,000 L %29,&)0 L %',000!M II%12,2)0 L %3,000! L %10,000 L%(,)00!


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P$#;EM 2!-2 (Continue*)

Supplemental disclosures of cash flow informationA

6ash paid during the #ear forA

/nterest %2,000

/ncome taesA %',)00

4on*cash investing and financing activitiesI

etired note pa#able b# issuing ordinar# shares %10,0

8urchased e$uipment b# issuing note pa#able 1',0

%2',0

I8resented in the notes to the financial statements" Supporting 6omputationsA

a!


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P2!-!M#$T#'S#' C#MPA'8

Statement of Cash FlosFor the 8ear En*e* 6eember !"/ 2+"+

(+++ #mitte*)


6ash receipts from customers """"""""""""""""""""" %3,)20

6ash pa#mentsA

8a#ments for merchandise """""""""""""""""""""" %1,2&0 b!

Salaries and benefits """""""""""""""""""""""""""""""" &2)

eat, light, and power """"""""""""""""""""""""""""""" &)

8ropert# taes """"""""""""""""""""""""""""""""""""""""""" 19

/nterest """"""""""""""""""""""""""""""""""""""""""""""""""""""" 30

iscellaneous """"""""""""""""""""""""""""""""""""""""""" 10

/ncome taes " """""""""""""""""""""""""""""""""""""""""""" +0+ c! 2,93&

"""4etcashprovidedb#operatingactivities )+3


Sale of non*trading e$uit# investments """""" (0

8urchase of buildings and e$uipment """"""""" 310!

8urchase of land """""""""""""""""""""""""""""""""""""""""""" +0!

""""""""""4etcashusedb#investingactivities 3)0!

/ncrease in cash """"""""""""""""""""""""""""""""""""""""""""""""""""" 233

6ash, 7anuar# 1, 2010 """""""""""""""""""""""""""""""""""""""""""" 100

""""""""""""""""""""""""""""""""""""""6ash,December31,2010 % 333

a! Sales """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" %3,+00Deduct ending accounts receivable """""""""""" &+0

3,020

.dd beginning accounts receivable """""""""""" )00

6ash receipts collections from

customers! """"""""""""""""""""""""""""""""""""""""" %3,)20


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8;5


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"""""""""""""4etcashusedb#financingactivities ',

4et increase in cash """""""""""""""""""""""""""""""""""""""""""""""""" ',

6ash, 7anuar# 1, 2010 """"""""""""""""""""""""""""""""""""""""""""""" (,

"""""""""""""""""""""""""""""""""""""""""6ash,December31,2010 % 10,

aSales evenue """""""""""""""""""""""""""""""""""""""""""""""""""""""""" %1,1'0,000

/ncrease in .ccounts eceivable """"""""""""""""""""""""""""" &,))0!

""""""""""""""""""""""""""""""""6ashreceivedfromcustomers %1,1)2,()0

b6ost of ?oods Sold """""""""""""""""""""""""""""""""""""""""""""""""" % &(+,000

/ncrease in /nventor# """"""""""""""""""""""""""""""""""""""""""""""""" &,000

Decrease in .ccounts 8a#able """""""""""""""""""""""""""""""" 10,000

""""""""""""""""""""""""""""""""""""""""""""""6ashpaidtosuppliers % &'),000

8;5


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3%120,()0 L %+,'2) L %&)0II L %),(00 O %10),'&)

I>riteoff of accounts receivable"

%1,)00 N %),(00 L %2,2)0!

II/ncrease in accrued pa#ables

b! .6BS /46"

Statement of 6ash -lows

-or the ear


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4et cash used b# financing activities """"""""" 31,12)!

4et increase in cash """""""""""""""""""""""""""""""""""""""""""""" +,2)0

6ash, 7anuar# 1, 2010 """"""""""""""""""""""""""""""""""""""""""" 33,&)0

6ash, December 31, 2010 """"""""""""""""""""""""""""""""""""" %(2,000

I%&0,)00 L %2,2)0! L %'0,000 L %1,)00!

P2!-

a! 'et Cash Proi*e* by #?erating Atiities

6ash receipts from customers %92),000 1!

6ash pa#mentsA

6ash pa#ments to suppliers %'0+,0002!

6ash pa#ments for operating epenses 22',0003!6ash pa#ments for income taes (3,000(! +&&,000

4et cash provided b# operating activities % (+,000

1! Sales! less /ncrease in .ccounts eceivables! %9)0,000 L %2),000 O%92),000

2! 6ost of ?oods Sold! plus /ncrease in /nventor#! less /ncrease in .ccounts8a#able!

%'00,000 N %1(,000 L %',000 O %'0+,000

3! perating


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?ain on sale of e$uit# investments """"""""""""" 1),000!

5oss on sale of e$uipment """"""""""""""""""""""""""" 3,000

/ncrease in accounts receivable net! """""""""" 23,000!

/ncrease in inventor# """"""""""""""""""""""""""""""""""""" 1(,000!

/ncrease in accounts pa#able """"""""""""""""""""""" ',000

/ncrease in income taes pa#able """""""""""""""" 2,000 19,000!

"""""""""""4etcashprovidedb#operatingactivities (+,000

6ash flows from investing activities8urchase of e$uit# investments

K%)),000 L %+),000 L %3),000!M """"""""""""""""""""""""" ),000!

8urchase of e$uipment

K%&0,000 L %(+,000 L %10,000!M """"""""""""""""""""""""" 32,000!

Sale of e$uit# investments %3),000 N %1),000! """" )0,000

Sale of e$uipment

K%10,000 L %10,000 J '0!M L %3,000 """""""""""""""" 1,000

"""""""""""4etcashprovidedb#investingactivities 1(,000


8a#ment of long*term notes pa#able """"""""""""""""""" +,000!

6ash dividends paid

K%9),000 N %'&,000! L %92,000M """"""""""""""""""""""""" &0,000!

/ssuance of ordinar# shares """"""""""""""""""""""""""""""""" 3),000I

4et cash used b# financing activities """""""""""""""""" (3,000!

4et increase in cash """"""""""""""""""""""""""""""""""""""""""""""""""""""" 19,000

6ash, 7anuar# 1, 2010 """""""""""""""""""""""""""""""""""""""""""""""""""" )1,000

6ash, December 31, 2010 """""""""""""""""""""""""""""""""""""""""""""" %&0,000

%310,000 L %2'0,000 O %)0,000P %)0,000 L %(0,000 L %2),000! O %3),000

4on*cash investing and financing activitiesI

/ssuance of ordinar# shares for land """"""""""""""""""" %1),000

8resented in the notes to the financial statements"

P2!-3

a! 6%'9E C#$P#$AT%#'

Statement of Cash Flos

For the 8ear En*e* 6eember !"/ 2+"+


%1),&)0a!4et income """"""""""""""""""""""""""""""""""""""""""""""""""""""""""

.dHustments to reconcile net income to net

cash provided b# operating activitiesA

),200b!5oss on sale of e$uipment """"""""""""""""""""""""" %

?ain from flood damage """"""""""""""""""""""""""""" 13,2)0!I

Depreciation epense """"""""""""""""""""""""""""""""" +00c!


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6op#right amorti=ation """"""""""""""""""""""""""""""" 2)0

?ain on sale of e$uit# investment """"""""""""" 1,)00!

/ncrease in accounts receivable net! """"""" 3,&)0!

/ncrease in inventor# """""""""""""""""""""""""""""""""" 2,000!

/ncrease in accounts pa#able """""""""""""""""""" 1,000 13,2)0!

"""4etcashflowprovidedb#operatingactivities 2,)00


Sale of e$uit# investments """""""""""""""""""""""""""""""" (,)00

Sale of e$uipment """"""""""""""""""""""""""""""""""""""""""""""" 2,)00

8urchase of e$uipment cash! """""""""""""""""""""""""" 1),000!

8roceeds from flood damage to building """"""""" 3&,000

""""""""4etcashprovidedb#investingactivities 29,000


8a#ment of dividends """""""""""""""""""""""""""""""""""""""" ),000!

8a#ment of short*term note pa#able """""""""""""""" 1,000!

"""""""""""""""4etcashusedb#financingactivities ',000!

/ncrease in cash """""""""""""""""""""""""""""""""""""""""""""""""""""" 2),)00

6ash, 7anuar# 1, 2010 """"""""""""""""""""""""""""""""""""""""""""" 13,000

6ash, December 31, 2010 """"""""""""""""""""""""""""""""""""""" %3+,)00

IK%33,000 N %(,000! L %29,&)0 L %',000!M

Supplemental disclosures of cash flow informationA

6ash paid during the #ear forA

/nterest """"""""""""""""""""""""""""""""""""""""""" %2,000

/ncome taes """"""""""""""""""""""""""""""""" %),000


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8;5


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Pr. 23-128

Keating Cor?oration

Statement of Cash Flos

For the 8ear En*e* 6eember !"/ 2+""

%nrease (6erease) in Cash

6ash flows from operating activities4et income %32&,000.dHustments to reconcile net income to net cash

provided b# operating activitiesA


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Decrease in inventor# 30,000Decrease in prepaid epenses 9,000Decrease in accounts pa#able 1),000!

/ncrease in accrued liabilities 1+,000 9',000

4et cash provided b# operating activities 29&,000

6ash used in investing activities8urchase of plant assets 210,000!

6ash flows from financing activities8a#ment of cash dividend 13+,000!etirement of mortgage pa#able ()0,000!

Sale of preferred stoc: '(),000

4et cash provided b# financing activities )&,000

4et increase in cash 1((,0006ash, 7anuar# 1, 2011 1)3,000

6ash, December 31, 2011 %29&,000

b! artman, /nc"Schedule of 6ash 8rovided b# perating .ctivities

-or ear


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Decrease in accounts receivable net! &+,000/ncrease in inventor# 21&,200!/ncrease in prepaid epenses 20,000!

Decrease in accounts pa#able 1+3,200!/ncrease in accrued liabilities &2,0005oss on condemnation of land 132,000 (),'00

4et cash provided b# operating activities 1+),'00

6ash flows from investing activitiesSale of long*term investments 1(0,000 '!8roceeds from condemnation of land 10+,000 &!8urchase of land )'0,000! +!Sale of building and land (00,000 9!

8urchase of building 1,0'0,000! 10!8urchase of machiner# 1(0,000! 11!

4et cash used b# investing activities 1,112,000!

6ash flows from financing activitiesSale of bonds +32,000 12!etirement of preferred stoc: +0,000! 13!

Sale of common stoc: 300,000 1(!

4et cash provided b# financing activities 1,0)2,0004et increase in cash % 12),'00

Pr5 2!-"!+ cont"!

1! 4et change % 2(,000Debit to accumulated depreciation 1+0,000Depreciation epense %20(,000

2! 4et change %20,000Debit to accumulated depreciation (0,000Depreciation epense %'0,000

3! 4et change %12,000!

>rite*off 2+,000

Depreciation epense % 1',000

(! Sale price of building and land %(00,000;oo: value of building and land 300,000?ain on sale %100,000

)! 6arr#ing value of long*term investments %1((,000Sale price of long*term investments 1(0,000

5oss on sale % (,000

'! ?iven"

&! 6ondemned land at cost! %2(0,000


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9! ?iven"

10! 4et change % '00,000;uilding sold at cost! ('0,000

%1,0'0,000

11! ?iven echange!"

12! ;onds 8a#able %+00,000.dd 8remium 32,000

%+32,000

13! ?iven"

1(! 12,000 Q %2) O %300,000

Pr5 2!-"!+ cont"!

ther important reconciliationsA

Shares outstanding at various times +&,'00December 31, 2011 12,000 /ssued 7une1), 2011&),'00 utstanding after stoc: dividend arch 31, 2011

&),'00 R 1"0) O &2,000 shares

6ommon Stoc:

ssuance 12,000 Q %10 O %120,000

Stoc: dividend 3,'00 Q %10 O 3',000

%1)',000

.dditional 8aid*in 6apital

ssuance 12,000 Q %1) O %1+0,000Stoc: dividend 3,'00 Q %12 O (3,200

%223,200

etained


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PROBLEM Tugas AKM 2.doc

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