FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Related questions
Question
Note: RP AND IDR
The book I use: Intermediate Accounting, Kieso, ifrs Edition, Fourth Edition
Questions in image
Transcribed Image Text:Problem: The PT FELIA Equity account balance on December 31, 2020 is as follows:
Share Capital-Preferrence, 8%, Rp 20.000 Par
Share Capital-Ordinary, Rp 5.000 Par
Share Premium-Preference
Share Premium-Ordinary
Retained Earnings
The following are transactions that occurred during 2021:
a. Issued 30,000 preferred shares (SP), Rp 22,000 per share, in cash.
b. Issued 60,000 common shares (SB) for land with a fair value of Rp 585,000,000.
c. Issued a lump sum of 80,000 SB and 10,000 SP with a total price of IDR 990,000,000
It is known that the fair value of SB is Rp. 10,000, and SP is Rp.
22,000 per share. d. Stock split: 2 for 1 (SB's par value becomes IDR 2,500 per share).
e. Buy back 40,000 common shares of the company at Rp 4,500 per share.
f. Sold 10,000 treasury shares, Rp 4,000 per share.
6.000.000.000
20.000.000.000
300.000.000
12.000.000.000
9.000.000.000
Rp
g. Declared cash dividends for: preferred shares, and IDR 500 per common share.
h. Recorded a net profit of IDR 325,800,000,000.
Requested:
1) Make a transaction recording journal for 2021.
2) Present a Statement of Financial Position, section "Equity" as of December 31, 2021.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 3 steps with 6 images
Knowledge Booster
Similar questions
- [Based on Appendix C] Explain the difference between the general ledger and a subsidiary ledger.arrow_forwardIn the FASB Accounting Standards Codification some of the sections may have the letter "S" next to it. What does the "S" indicate? Question 24 options: a) Superceded Guidance b) SEC Guidance c) SME Guidance d) Simplified Guidancearrow_forward16 What do the following accounting terms and principles mean: Please define and provide an example of how it would be applied. Matching Principle - Historical Cost – Monetary Unit – Accounting Period – Going Concern –arrow_forward
- Access the FASB Accounting Standards Codification at the FASB website(www.fasb.org). Determine the specific citation for each of the following items:Required:1. The topic number for business combinations.2. The topic number for related party disclosures.3. The specific seven-digit Codification citation (XXX-XX-XX) for the initialmeasurement of internal-use software.4. The specific seven-digit Codification citation (XXX-XX-XX) for the subsequentmeasurement of asset retirement obligations.5. The specific seven-digit Codification citation (XXX-XX-XX) for the recognition ofstock compensationarrow_forwardWhat can be interpreted from Accounting Standards Codification (ASC), of FASB?arrow_forwardSubject : Accounting] Write a detailed note on different types of subsidiary books and their importance in recording accounting transactions. Also demonstrate specimen of any 2 types of subsidiary books.arrow_forward
- Accounting information is O A. comparable O B. verifiable OC. relevant O D. understandable _when various, independent experts are able to reach a consensus that it provides a faithful portrayal. (...)arrow_forwardAccounting chapter 18. PR-4Aarrow_forwarda). Make a list of FASB accounting standards that have been converged with IFRS and b).identify the FASB topic name and ASC number for example, (Standard topic name: ASC XXX-XX-XX-X).arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education