The following is attached to the company's financial statements, pay attention to the noncurrent liabilities and shareholders’ equity sections.Questions:a. Based on the financial statements above, explain possible “debt to equity swap” scheme carried out by the client!b. What evidence do you need to collect to ensure that the client's debt to equity swap is free from material misstatement? Catatan/Notes20102009LIABILITIES ANDSHAREHOLDERS' EQUITYKEWAJIBAN DAN EKUITASKEWAJIBAN LANCARCURRENT LIABILITIESShort-term bank loansTrade payables - Third partiesTaxes payableOther payablesAccrued expensesAdvance on sales63.218.778.659 2b,h,m,q,10,2416.049.325.984 2b,1,m,q,11,243.289.221.216Pinjaman bank jangka pendekHutang usaha - Pihak ketigaHutang pajakHutang lain-lainBiaya masih harus dibayarUang muka penjualanBagian kewajiban jangka panjangyang jatuh tempo dalam waktusatu tahun59.461.174.39011.810.234.60176.862.64244.048.1871.259.063.8302n,20b1.322.870.535896.800.000122b,4153.161.300 2b,h,m,q,13,24Current maturities of long-termdebts9.120.148.381Jumlah Kewajiban Lancar84.930.157.69481.771.532.031Total Current LiabilitiesKEWAJIBAN TIDAK LANCARKewajiban jangka panjang - setelahdikurangi bagian yang jatuhtempo dalam waktu satu tahunKewajiban pajak tangguhan - BersihKewajiban diestimasi imbalanpasca-kerjaNON-CURRENT LIABILITIESLong-term debts - net ofcurrent maturitiesDeferred tax liabilities - NetEstimated liabllities forpost-employment benefits128.338.374 2b,h,m,q,13,2418.457.040.32845.066.961.09018.329.375.9002n,20d1.975.245.05621,221.588.160.200Jumlah Kewajiban Tidak Lancar20.560.623.75864.984.497.190Total Non-Current LiabilitiesJumlah Kewajiban105.490.781.452146.756.029.221Total LiabilitiesEKUITASModal saham - nilai nominalRp 100 per sahamModal dasar - 4.000.000.000sahamModal ditempatkan dan disetorpenuh - 1.500.000.000 saham(2009: 1.300.000.000 saham)Tambahan modal disetor - BersihSaldo labaSHAREHOLDERS' EQUITYShare capital - par value Rp 100per shareAuthorized - 4,000,000,000sharesIssued and fully paid -1,500,000,000 shares(2009: 1,300,000,000 shares)Additional pald-In capital - NetRetained earnings150.000.000.00033.542.841.148130.000.000.0004.367.923.96821.257.157.437142k, 1545.916.926.397Jumlah Ekuitas229.459.767.545155.625.081.405Total Shareholders' EquityJUMLAH KEWAJIBAN DANTOTAL LIABILITIES ANDEKUITAS334.950.548.997302.381.110.626SHAREHOLDERS' EQUITY

It means translation of Debt into Equity Capital. It is a refinancing deal to cancel the debt in…

Answered: ossible “debt to equity swap” scheme…

Business

Accounting

ossible “debt to equity swap” scheme carried out by the client!

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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