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FINANCIAL ACCOUNTING
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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PT Kenanga is a company headquartered in Indonesia to acquire 100% stake in PT Onahara in Japan. The lacal currency is the Yen used for transactions. Transactions for cash receipts and payments are made in Yen. Dividends will be given by PT Kenanga on June 1, 2020. You are asked: a. Make a PT Kenanga Balance Sheet as of December 31, 2020 with the following data: Account name Yen Cash 3.000 Accounts receivable 5.640 Stock 13.900 23.900 Fixed assets Accounts payable 4,886 Capital stack 23.200 Retain earning Sales Cost of goads sald Salaries and wages expenses Depreciation Expense Так екреnse 16.615 9.882 5.906 1.653 209 101 Dividend 214 Date Exchange Rate (Yen) January 2, 2020 1.500 1 June 2020 2.000 31 December 2020 1.650 average 1.800 b. Prepare PT Kenanga's Financial Report c. During 2020 PT Kenanga was experiencing a recession so it had tosell its assets. On Novermber 1, 2020 PT Kenanga sold land to PT Kriya, which is headquartered in Japan for Y6,500. This sale will be paid in full on March 1, 2021. The exchange rate of Rupiah against the US dollar for certain dates is as follows: Exchange rate IDRI 200 Date November 1, 2020 31 December 2020 IDR1.700 March 1, 2021 IDR1.000 Keep a journal of these transactions
Transcribed Image Text:PT Kenanga is a company headquartered in Indonesia to acquire 100% stake in PT Onahara in Japan. The lacal currency is the Yen used for transactions. Transactions for cash receipts and payments are made in Yen. Dividends will be given by PT Kenanga on June 1, 2020. You are asked: a. Make a PT Kenanga Balance Sheet as of December 31, 2020 with the following data: Account name Yen Cash 3.000 Accounts receivable 5.640 Stock 13.900 23.900 Fixed assets Accounts payable 4,886 Capital stack 23.200 Retain earning Sales Cost of goads sald Salaries and wages expenses Depreciation Expense Так екреnse 16.615 9.882 5.906 1.653 209 101 Dividend 214 Date Exchange Rate (Yen) January 2, 2020 1.500 1 June 2020 2.000 31 December 2020 1.650 average 1.800 b. Prepare PT Kenanga's Financial Report c. During 2020 PT Kenanga was experiencing a recession so it had tosell its assets. On Novermber 1, 2020 PT Kenanga sold land to PT Kriya, which is headquartered in Japan for Y6,500. This sale will be paid in full on March 1, 2021. The exchange rate of Rupiah against the US dollar for certain dates is as follows: Exchange rate IDRI 200 Date November 1, 2020 31 December 2020 IDR1.700 March 1, 2021 IDR1.000 Keep a journal of these transactions
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