Soal 1

Berikut adalah income statement dari Cowan, Inc.:

Sales $380,000
Cost of goods sold 225,000
Gross profit $155,000
Operating expenses 85,000
Income before income taxes 70,000
Income taxes 28,000
Net income $ 42,000
Kemudian berikut adalah informasi tambahan untuk perubahan bersih atas working capital
perusahaan:

Debit Credit
Cash $12,000
Accounts receivable 15,000
Inventories $19,400
Salaries payable (operating expenses) 8,000
Accounts payable 12,000
Income tax payable 3,000

Perusahaan memiliki beban depresiasi sebesar $16,700 dan akun deferred tax liability naik sebesar
$2,600.

Anda diminta untuk membuat laporan arus kas bagian net cash flow from operating activities
dengan menggunakan metode direct dan indirect.

Cowan, inc.
Statement of Cash flow (Indirect method)
Cash flow from operating activities
Net Income $42.000
Adjustments :
Increase in accounts receivable $(15.000)
Decrease in inventories 19.400
Decrease in salaries payable (operating expenses) (8.000)
Increase in accounts payable 12.000
Decrease in income tax payable (3.000)
Deprecation expense 16.700
Increase in deferred tax liability 2.600 24.700
Net cash provided by operating activities $66.700

ACCT6174 – Introduction to Financial Accounting

 Cowan, Inc.
Statement of Cash Flows (Partial)
(Direct Method)

Cash flows from operating activities

Cash received from customers ($380,000 – $15,000) $365,000
Cash paid to suppliers ($225,000 – $19,400 – $12,000) $193,600
Operating expenses paid ($85,000 + $8,000 – $16,700) 76,300
Taxes paid ($28,000 + $3,000 – $2,600) 28,400 298,300
Net cash provided by operating activities $ 66,700

Soal 2
Berikut adalah informasi terkait Laporan Keuangan dari French Corporation:
December 31
2016 2015
Cash $90,000 $ 27,000
Accounts receivable 92,000 80,000
Allowance for doubtful accounts (4,500) (3,100)
Inventory 155,000 175,000
Prepaid expenses 7,500 6,800
Land 90,000 60,000
Buildings 287,000 244,000
Accumulated depreciation (32,000) (13,000)
Patents 20,000 35,000
$705,000 $611,700

Accounts payable $ 90,000 $ 84,000

Accrued liabilities 54,000 63,000
Bonds payable 125,000 60,000
Share capital-ordinary 100,000 100,000
Retained earnings—appropriated 80,000 10,000
Retained earnings—unappropriated 271,000 302,700
Treasury shares, at cost (15,000) (8,000)
$705,000 $611,700

For 2016 Year

Net income $58,300
Depreciation expense 19,000
Amortization of patents 5,000
Cash dividends declared and paid 20,000
Gain or loss on sale of patents none

ACCT6174 – Introduction to Financial Accounting

Buatlah laporan arus kas dari informasi diatas dengan menggunakan metode tidak langsung (indirect
method).

French Corporation
Statement of Cash Flows
For the Year Ended December 31, 2016
Increase (Decrease) in Cash

Cash flows from operating activities

Net income $58,300
Adjust. to reconcile net income to net cash provided
by operating activities:
Depreciation expense $19,000
Patent amortization 5,000
Increase in accounts receivable (10,600)
Decrease in inventory 20,000
Increase in prepaid expenses (700)
Increase in accounts payable 6,000
Decrease in accrued liabilities (9,000) 29,700

Net cash provided by operating activities 88,000

Cash flows from investing activities

Purchase of land (30,000)
Purchase of buildings (43,000)
Sale of patents 10,000
Net cash used by investing activities (63,000)

Cash flows from financing activities

Sale of bonds 65,000
Purchase of treasury stock (7,000)
Payment of cash dividends (20,000)

Net cash provided by financing activities 38,000

Net increase in cash $63,000

Cash, January 1, 2016 27,000
Cash, December 31, 2016 $90,000

Soal 3

Berikut adalah informasi terkait dengan Statements of financial position untuk Kinder Company.

ACCT6174 – Introduction to Financial Accounting

 Kinder Company
Statements of Financial Position
December 31
2016 2015
Property, plant & equipment $236,500 $150,000
Accumulated depreciation (37,700) (25,000)
Long-term investments 0 15,000
Inventory 35,000 42,000
Accounts receivable (net) 43,300 20,300
Cash 30,900 10,200
$308,000 $212,500

Share capital-ordinary $130,000 $ 90,000

Retained earnings 70,000 29,000
Long-term notes payable 70,000 50,000
Accounts payable 21,000 17,000
Accrued liabilities 17,000 26,500
$308,000 $212,500

Data tambahan:
1. Laba bersih untuk tahun 2016 adalah $ 76.000.
2. Penyusutan Plant asset untuk tahun 2016 adalah $ 12.700.
3. Menjual investasi jangka panjang seharga $ 28.000.
4. Membayar dividen sebesar $ 35.000.
5. Membeli mesin seharga $ 26.500, dibayar tunai.
6. Membeli mesin dan memberikan uang muka jangka panjang senilai $ 60.000.
7. Membayar wesel bayar jangka panjang senilai $ 40.000 dengan menerbitkan saham biasa.

Buatlah laporan arus kas dari informasi diatas dengan menggunakan metode tidak langsung (indirect
method).

ACCT6174 – Introduction to Financial Accounting

 Kinder Company
Statement of Cash Flows
For the Year Ended December 31, 2016
Increase (Decrease) in Cash
Cash flows from operating activities
Net income $76,000
Adjustments:
Depreciation expense $ 12,700
Gain on sale of investments (13,000)
Increase in accounts receivable (23,000)
Decrease in inventory 7,000
Decrease in accounts payable (9,500)
Increase in accrued liabilities 4,000
(21,800)
Net cash provided by operating activities 54,200
Cash flows from investing activities
Sale of long-term investments 28,000
Purchase of machinery (26,500)
Net cash provided by investing activities 1,500
Cash flows from financing activities
Paid dividends (35,000)

Net cash used by financing activities (35,000)

Net increase (decrease) in cash $ 20,700
Cash, January 1, 2016 10,200
Cash, December 31, 2011 $ 30,900
Noncash investing and financing activities
Purchase of machinery by issuing a long-term note payable $ 60,000
Paid a long-term note payable by issuing common stock $ 40,000
Soal 4

Boyle Corporation memiliki informasi comparative current assets and current liabilities sebagai
berikut:
Dec. 31, 2017 Dec. 31, 2016
Current assets
Prepaid expenses $ 35,000 $ 20,000
Inventory 110,000 90,000
Accounts receivable 55,000 95,000
Short-term investments 40,000 10,000
Cash 20,000 30,000
Total current assets $260,000 $245,000

ACCT6174 – Introduction to Financial Accounting

 Current liabilities
Accounts payable $140,000 $110,000
Salaries and wages payable 40,000 30,000
Income tax payable 20,000 15,000
Total current liabilities $200,000 $155,000

Tahun 2017, credit sales and cost of goods sold adalah $600,000 and $350,000.

Hitunglah rasio dibawah ini untuk tahun 2017:

1. Current ratio.
2. Working capital.
3. Acid-test ratio.
4. Accounts receivable turnover.
5. Inventory turnover.
1. Current Ratio 1.3 : 1
Current Assets = 260,000
Current Liabilities = 200,000
= 1.3

2. Working Capital 60,000

Current Assets - Current Liabilities = 260,000 - 200,000
= 60,000
3. Acid-test ratio 75%
Current Assets − Inventory = 260,000 − 110,000 = 150,000
= 0.75
Current Liabilities = 200,000
4. Accounts receivable turnover 8 : 1
Net Credit Sales = 600,000
=8
Net Receivable (55,000 + 95,000)/2 = 75,000

5. Inventory Turnover 3.5 : 1

Cost of Goods Sold = 350,000
= 3.5
Average inventory = 100,000

Soal 5
Santo Corporation mengalami kebakaran pada tanggal 31 Desember 2017, di mana catatan
keuangannya sebagian hancur. Ini telah mampu menyelamatkan beberapa catatan dan telah
memastikan saldo berikut.

December 31, 2017 December 31, 2016

Cash $ 30,000 $ 10,000
Accounts receivables (net) 84,000 126,000
Inventory 200,000 180,000
Accounts payable 50,000 90,000
Notes payable 30,000 60,000
Share capital – ordinary, $100 par 400,000 400,000
Retained earnings 130,000 101,000

ACCT6174 – Introduction to Financial Accounting

Informasi tambahan:
1. Perputaran persediaan (inventory turnover) adalah 5 kali
2. Return on ordinary shareholders' equity adalah 18%. Perusahaan tidak memiliki saham
premium.
3. Accounts receivable turnover adalah 9,4 kali.
4. Return on assets adalah 16%.
5. Total aset pada tanggal 31 Desember 2016, adalah $ 585.000.

Hitung:
(a) Cost of goods sold for 2017.
(b) Net sales (credit) for 2017.
(c) Net income for 2017.
(d) Total assets at December 31, 2017.

a. Inventory turnover = 5
Cost of goods sold = 5 x (200.000 + 180.000) / 2
Cost of goods sold = 5 x 190.000
Cost of goods sold = 950.000
b. Accounts receivable turnover = 9.4
Net sales (credit) = 9.4 x (84.000 + 126.000) / 2
Net sales (credit) = 9.4 x 105.000
Net sales (credit) = 987.000
c. Return on ordinary shareholders' equity = 18 %
Net income = 18% x (400.000 + 130.000 + 400.000 + 101.000) / 2
Net income = 18% x 515.500
Net income = 92.790
d. Return on assets = 16%
Average assets = 92.790 / 16%
Average assets = 579.938
(Total assets 2017 - 585.000) / 2 = 579.938
Total assets 2017 = (579.938 x 2) - 585.000
Total assets 2017 = 574.876

ACCT6174 – Introduction to Financial Accounting