LATIHAN SOAL SAHAM LEASING.doc by HC120525113512

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									SOAL LATIHAN AKM 2
SAHAM, LABA DITAHAN, DAN LEASING

SOAL 1 Lump sum issuance of stock.
Landon Corporation has issued 2,000 shares of common stock and 400 shares of preferred stock
for a lump sum of $68,000 cash.
Instructions
(a) Give the entry for the issuance assuming the par value of the common was $5 and the market
    value $30, and the par value of the preferred was $40 and the market value $50. (Each
    valuation is on a per share basis and there are ready markets for each stock.)
(b) Give the entry for the issuance assuming the same facts as (a) above except the preferred
    stock has no ready market and the common stock has a market value of $25 per share.

Solution 1
(a) Cash         ........................................................................................   68,000
                 Common Stock ...............................................................                        10,000
                 Paid-in Capital in Excess of Par—Common .....................                                       41,000
                 Preferred Stock ...............................................................                     16,000
                 Paid-in Capital in Excess of Par—Preferred ....................                                      1,000
              (common $30 × 2,000                              $60,000
              preferred $50 × 400                                20,000
                                                               $80,000 market value

              60/80 × $68,000 =                                $51,000 common
              20/80 × $68,000 =                                 17,000 preferred
                                                               $68,000)

(b) Cash ............................................................................................       68,000
           Common Stock .................................................................                            10,000
           Paid-in Capital in Excess of Par—Common ......................                                            40,000
           Preferred Stock ................................................................                          16,000
           Paid-in Capital in Excess of Par—Preferred .....................                                           2,000


SOAL 2 Treasury stock.
Camby Corporation's balance sheet reported the following:
      Capital stock outstanding, 5,000 shares, par $30 per share                       $150,000
      Paid-in capital in excess of par                                                    80,000
      Retained earnings                                                                 100,000
The following transactions occurred this year:
(a) Purchased 80 shares of capital stock to be held as treasury stock, paying $60 per share.
(b) Sold 60 of the shares of treasury stock at $65 per share.
(c) Sold the remaining shares of treasury stock at $50 per share.
Instructions
Prepare the journal entry for these transactions under the cost method of accounting for treasury
stock.

Solution 2
(a) Treasury Stock ...........................................................................               4,800
         Cash ....................................................................................                    4,800
(b) Cash .............................................................................................       3,900
        Treasury Stock ......................................................................                          3,600
        Paid-in Capital from Treasury Stock ......................................                                       300

(c) Cash ..............................................................................................      1,000
    Paid-in Capital from Treasury Stock ...............................................                        200
                 Treasury Stock


SOAL 3 Treasury stock.
Gagne Company's balance sheet shows:
       Common stock, $20 par                          $3,000,000
       Paid-in capital in excess of par                1,050,000
       Retained earnings                                 750,000
Instructions
Record the following transactions by the cost method.
(a) Bought 4,000 shares of its common stock at $29 a share.
(b) Sold 2,000 treasury shares at $30 a share.
(c) Sold 800 shares of treasury stock at $26 a share.

Solution 3
(a)     Treasury Stock ...........................................................................         116,000
              Cash ...............................................................................                   116,000

(b)     Cash............................................................................................    60,000
               Treasury Stock ................................................................                        58,000
               Paid-in Capital from Treasury Stock ................................                                    2,000

(c)     Cash............................................................................................    20,800
        Paid-in Capital from Treasury Stock ...........................................                      1,600
        Retained Earnings .......................................................................              800
                Treasury Stock ................................................................                       23,200




SOAL 4 Dividen
Pada tanggal 5 Januari 2008 PT. Piero mengumumkan pembagian dividen tunai Rp100 per
lembar saham. Saham yang beredar sampai dengan pengumuman sejumlah 2.000.000 lembar.
Pada tanggal 20 Januari semua pemegang saham telah tercatat dan pembayaran dilakukan pada
tanggal 6 Pebruari 2008. Buat jurnal pada tanggal-tanggal tersebut!

Solution 4
Jurnal 5 Januari 2008
Laba Ditahan                               200.000.000
        Utang Dividen                                             200.000.000
Jurnal 6 Pebruari
Utang Dividen                              200.000.000
        Kas                                                       200.000.000
SOAL 5 Capital lease amortization and journal entries.
Vernon Co. as lessee records a capital lease of machinery on January 1, 2004. The seven annual
lease payments of $210,000 are made at the end of each year. The present value of the lease
payments at 10% is $1,022,400. Vernon uses the effective interest method of amortization and
sum-of-the-years'-digits depreciation (no residual value).
Instructions (Round to the nearest dollar.)
(a) Prepare an amortization table for 2004 and 2005.
(b) Prepare all of Vernon's journal entries for 2004.

Solution 5
(a)                             Annual                                             Reduction
         Date                  Payments                   10% Interest             Of Liability          Lease Liability
       1/1/04                                                                                             $1,022,400
       12/31/04                 $210,000                   $102,240                   $107,760               914,640
       12/31/05                  210,000                     91,464                    118,536               796,104

(b)   Leased Machinery ...................................................................... 1,022,400
            Lease Liability ..................................................................                  1,022,400
      Interest Expense ........................................................................       102,240
      Lease Liability .............................................................................   107,760
              Cash ...............................................................................                210,000
      Depreciation Expense (7/28 × $1,022,400) .................................                      255,600
            Accumulated Depreciation ..............................................                               255,600




SOAL 6 Lessee accounting—capital lease.
Gordon Company, as lessee, enters into a lease agreement on July 1, 2004, for equipment. The
following data are relevant to the lease agreement:
1. The term of the noncancelable lease is 4 years, with no renewal option. Payments of
    $253,613 are due on June 30 of each year.
2. The fair value of the equipment on July 1, 2004 is $840,000. The equipment has an economic
    life of 6 years with no salvage value.
3. Gordon depreciates similar machinery it owns on the sum-of-the-years'-digits basis.
4. The lessee pays all executory costs.
5. Gordon's incremental borrowing rate is 10% per year. The lessee is aware that the lessor used
    an implicit rate of 8% in computing the lease payments (present value factor for 4 periods at
    8%, 3.31213; at 10%, 3.16986.
Instructions
(a) Indicate the type of lease Gordon Company has entered into and what accounting treatment
      is applicable.
(b) Prepare the journal entries on Gordon's books that relate to the lease agreement for the
      following dates: (Round all amounts to the nearest dollar. Include a partial amortization
      schedule.)
      1. July 1, 2004.
      2. December 31, 2004.
      3. June 30, 2005.
      4. December 31, 2005
Solution 6
(a)   Capitalized amount:
      $253,613 × PV of an ordinary annuity for 4 periods at 8%
      $253,613 × 3.31213 = $840,000
      Because the present value of the lease payments ($840,000) equals the fair value,
      $840,000, of the leased property, it is a capital lease and must be accounted for under the
      capital lease method.

(b)   1.                                              July 1, 2004
            Leased Equipment Under Capital Leases .............................                        840,000
                  Lease Liability ............................................................                    840,000

      2.                                     December 31, 2004
            Depreciation Expense ...........................................................           168,000
                  Accumulated Depreciation—Capital Leases
                      [($840,000 × 4/10) × 6/12] ....................................                             168,000
            Interest Expense ($67,200 × 6/12) ........................................                  33,600
                    Interest Payable ........................................................                      33,600

                                               Lease Amortization Schedule
                          Annual                     Interest on                   Reduction of               Balance of
       Date            Lease Payment              Unpaid Obligation              Lease Obligation          Lease Obligation
      7/1/04                                                                                                  $840,000
      6/30/05            $253,613                          $67,200                     $186,413                653,587
      6/30/06             253,613                           52,287                      201,326                452,261

      3.                                                June 30, 2005
           Interest Expense .....................................................................       67,200
           Lease Liability .........................................................................   186,413
                  Cash ............................................................................               253,613
                     (Interest payable entry assumed to have been
                     reversed 1/1/05)
      4.                                    December 31, 2005
           Depreciation Expense ............................................................           294,000
                Accumulated Depreciation—Capital Leases ................                                          294,000
                   [($840,000 × 4/10) × 6/12 plus
                   ($840,000 × 3/10) × 6/12]
           Interest Expense ($52,287 × 6/12) .........................................                  26,144
                  Interest Payable ...........................................................                     26,144

								
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