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    Advanced Accounting 2 (Final Exam) : Name: Okni Sanola Student Number: C1C017074 Class: D (International)

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    Denny Satria
    The document contains sample accounting journal entries and solutions to accounting problems involving foreign currency transactions, asset disposals, debt restructuring, and company liquidation. Specifically: - It provides journal entries for a company settling debt by transferring assets at fair value and allocating losses between partners in liquidating a partnership. - It also includes journal entries for a company recording purchases, foreign currency contracts, and debt payments involving the Malaysian ringgit and its exchange rate fluctuations against the rupiah over time. - The problems and solutions demonstrate accounting for various complex transactions involving foreign currency, assets, liabilities, and ownership equity.

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    Advanced Accounting 2 (Final Exam) : Name: Okni Sanola Student Number: C1C017074 Class: D (International)

    Uploaded by

    Denny Satria
    460 views4 pages
    The document contains sample accounting journal entries and solutions to accounting problems involving foreign currency transactions, asset disposals, debt restructuring, and company liquidation. Specifically: - It provides journal entries for a company settling debt by transferring assets at fair value and allocating losses between partners in liquidating a partnership. - It also includes journal entries for a company recording purchases, foreign currency contracts, and debt payments involving the Malaysian ringgit and its exchange rate fluctuations against the rupiah over time. - The problems and solutions demonstrate accounting for various complex transactions involving foreign currency, assets, liabilities, and ownership equity.

    Original Description:

    Contoh final exam

    Original Title

    _C1C017074(ADVANCED FINAL EXAM)

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    The document contains sample accounting journal entries and solutions to accounting problems involving foreign currency transactions, asset disposals, debt restructuring, and company liquidation. Specifically: - It provides journal entries for a company settling debt by transferring assets at fair value and allocating losses between partners in liquidating a partnership. - It also includes journal entries for a company recording purchases, foreign currency contracts, and debt payments involving the Malaysian ringgit and its exchange rate fluctuations against the rupiah over time. - The problems and solutions demonstrate accounting for various complex transactions involving foreign currency, assets, liabilities, and ownership equity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    460 views4 pages

    Advanced Accounting 2 (Final Exam) : Name: Okni Sanola Student Number: C1C017074 Class: D (International)

    Uploaded by

    Denny Satria
    The document contains sample accounting journal entries and solutions to accounting problems involving foreign currency transactions, asset disposals, debt restructuring, and company liquidation. Specifically: - It provides journal entries for a company settling debt by transferring assets at fair value and allocating losses between partners in liquidating a partnership. - It also includes journal entries for a company recording purchases, foreign currency contracts, and debt payments involving the Malaysian ringgit and its exchange rate fluctuations against the rupiah over time. - The problems and solutions demonstrate accounting for various complex transactions involving foreign currency, assets, liabilities, and ownership equity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Account Amount

    Cash 15.000.000
    Account Recievable 20.000.000
    Inventory 15.000.000
    Supplies 5.000.000
    Equipment 70.000.000
    Building 200.000.000
    Vehicles Name : Okni Sanola
    175.000.000
    Account payable Student Number: C1C017074
    100.000.000
    Bathoh Capital 250.000.000
    Adun Capital Class : D (International)
    150.000.000
    Advanced Accounting 2 (Final exam)

    Question no 1

    Bathoh and Adun agreed to dissolve fa. Ho Taba which has been running for 10 years while the balance
    of the alliance account before it is dissolved is as follows:

    If the vehicle is sold at 100,000,000, Develop a cash distribution plan and liquidation report

    Answer:

    Cash Distribution Plan

    (Non Cash) Capital Balance

    Cash Asset Account Payable Bathoh Adun

    Account Balance 15.000.000 485.000.000 100.000.000 250.000.000 150.000.000

    Sale of vehicles

    Allocate loss 100.000.000 -75.000.000 -46.875.000 -28.125.000

    115.000.000 410.000.000 100.000.000 203.125.000 121.875.000

    Payment to creditors -100.000.000 -100.000.000

    15.000.000 410.000.000 0 203.125.000 121.875.000

    Payment to parties -15.000.000 -1.875.000 -13.125.000

    410.000.000 201.250.000 108.750.000


    Schedule 1

    Bathoh Adun

    Capital Balance 203.125.000 121.875.000

    Allocation of potential loss -205.000.000 -205.000.000

    -1.875.000 -83.125.000

    Allocation of deficit 0 70.000.000

    Safe payment -1.875.000 -13.125.000

    Question No 2

    PT. Beuna Daya experienced financial difficulties and carried out the process of carrying out debt
    restitution in two ways:

    1. Debt to PT. Meuraseuki in the amount of 2,000,000,000 was completed by submitting 5 units of cars
    with acquisition value of 3,000,000,000 with an economic age of 6 years and having been
    depreciated for 2 years using the straight-line method, the car had a fair value of 2,200,000,000

    2. Debt to PT. Beu See Soe in the amount of 1,000,000,000 with an interest rate of 12 & annually
    extended the repayment period in 2 years with an interest of 13% per year

    Prepare the journal entries needed

    Answer:

    Account Payable Rp 2.000.000.000


    Loss on Restructuring of Debt Rp 1.200.000.00
    Asset (Cars) Rp 2.200.000.000
    Debt restructuring profit Rp 1.000.000.000

    Asset (Cars) Rp 3.000.000.000


    Allowance for receivable losses Rp 1.000.000.000
    Account Receivable Rp 2.000.000.000
    Question No. 3

    PT. Kelandeet is one of the companies located in Bengkulu that imports goods from Malaysia. The
    company uses a periodic system in recording its supplies and uses a direct exchange rate in the
    recording of foreign currencies.
    On December 1, PT. Keulandeet purchased merchandise from Chang Sdn Bhd., Amounting to
    RM2,000,000, payment made on April 1. On that date
    PT. Keulandeet bought On April 1, PT. Keulandeet sent payment to Chang Sdn Bhd for RM 2,000,000,
    after obtaining its RM2,000,000 forward contract.
    Spot and forward rates for RM are as follows:
    Spot rate (Rp) forward rate (Rp)
    Dec. 1 3,400 3,500
    Dec. 29 3,350 3,450
    Dec. 31 3,375 3,470
    April 1 3,600
    forward contract to buy RM2,000,000 on April 1 at a price of Rp3,500 per RM.
    Prepare the necessary journals

    Answer:
    Dec, 1 Purchase Rp 6,800,000,000 3,400 x 2,000,000
    Account Payable Rp 6,800,000,000

    RM 2,000,000
    Dec 1 Spot rate 3,400 x
    Payable in Rp Rp 6,800,000,000

    Dec, 1 FC Receivable from Exchange Dealer Rp 7,000,000,000


    Rupiah payable to Exchange Dealer Rp 7,000,000,000

    RM 2,000,000
    Dec 1 forward rate 3,500 x
    Payable in Rp 7,000,000,000

    Dec. 31 Accounts Payable Rp 50,000,000


    Transaction Gain Rp 50,000,000

    RM 2,000,000
    Dec 31 Spot rate 3,375 x
    Payable in Rp Rp 6,750,000,000
    Payable Record on Dec 1 Rp 6,800,000,000
    Transaction Gain Rp 50,000,000
    Dec. 31 Transaction Loss Rp 60,000,000
    FC Receivable from Exchange Dealer Rp 60,000,000

    RM 2,000,000
    Dec 31 Spot rate 3,470 x
    Payable in Rp Rp 6,940,000,000
    Payable Record on Dec 1 Rp 7,000,000,000
    Transaction Loss Rp 60,000,000

    Dec. 31 Transaction Loss Rp 450,000,000


    Accounts Payable Rp 450,000,000

    RM 2,000,000
    Dec 31 Spot rate 3,600 x
    Payable in Rp Rp 7,200,000,000
    Payable established on Dec 31 Rp 6,750,000,000
    Transaction Gain Rp 450,000,000

    Dec. 31 FC Receivable from Exchange Dealer Rp 260,000,000


    Transaction Gain Rp 260,000,000

    RM 2,000,000
    Apr 1 Spot rate 3,600 x
    Payable in Rp Rp 7,200,000,000
    Payable established on Dec 31 Rp 6,940,000,000
    Transaction Loss Rp 260,000,000

    Apr 1 Investment in FC Rp 7,200,000,000


    Rp Payable to Exchange Dealer Rp 7,000,000,000
    Cash Rp 7,000,000,000
    FC Receivable from Exchange Deates Rp 7,200,000,000

    Accounts Payable Rp 7,200,000,000


    Investment in FC Rp 7,200,000,000

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