2001660713 NADIA ANIYA SUDRAJAT

Tugas Personal ke-5

Minggu 10

Jawaban :

1. Account Payable 71.600

Cash 30.072*
Gain on Restructuring of Debt 41,528
*71.600 x 0.42

2. Allowance for Uncollectable Accounts 19.450

Loss on Transfer of Assets 3.550
Account Receivable 23.000*

Account Payable 132.400

Account Receivable 69.000

1314F – Merger & Acquisition : Accounting & Auditing Impact

 Gain on Restructuring of Debt 63.400**

*92.00 – 69.000
** 132.400 – 69.000

3. Accrued Expenses 14.620

Cash 14.620

4. Notes Payable 300.000

Accrued Interest Payable 27.000
Cash 9.000
Restructured Debt 300.000
Gain on Restructured of Debt 18.000
*327.000 – 309.000

1314F – Merger & Acquisition : Accounting & Auditing Impact

1314F – Merger & Acquisition : Accounting & Auditing Impact
Jawaban :

(A)
1. Allowance for Uncollectibles 16,750
Loss on Transfer of Assets 3,700
Accounts Receivable ($71,450 - $51,000) 20,450

Accounts Payable 69,000

Accounts Receivable 51,000
Gain on Restructuring of Debt 18,000

2. Patents 8,000
Gain on Transfer of Asset ($50,000 - $42,000) 8,000

Accounts Payable 54,000

Patents 50,000
Gain on Restructuring of Debt 4,000

3. Accrued Wages 11,900

Cash 11,900

Accounts Payable ($142,700 - $69,000 - $54,000) 19,700

Cash ( 0.6  $19,700) 11,820
Gain on Restructuring of Debt 7,880

1314F – Merger & Acquisition : Accounting & Auditing Impact

 4. Notes Payable 57,000
Accrued Interest Payable 6,000
Restructured Debt – due 02/01/15 63,000

Total future cash payments:

Principal 63,000
Interest (6% x $63,000) x 2 7,560
Total 70,560
Carrying value 63,000
No Gain recognized

5. Notes Payable 54,400

Accrued Interest Payable 11,900
Restructured Debt – due 02/01/15 52,000
Gain on Restructuring of Debt 14,300

Total future cash payments:

Principal ($54,400 - $14,400) 40,000
Interest (10% x $40,000) x 3 12,000
Total 52,000
Carrying value ($54,400 + $11,900) 66,300
Gain on Restructuring 14,300

6. Mortgage Note Payable 80,000

Accrued Interest Payable 20,500
Common Stock (100,000 x $0.50) 50,000
Paid-in Capital in Excess of Par 9,000
Gain on Restructuring of Debt ($100,500 – (100,000  $.59) 41,500

7. Common Stock ($290,000 – (580,000  $.10) 232,000

Retained Earnings 66,820
Paid-in Capital in Excess of Par 165,180

1314F – Merger & Acquisition : Accounting & Auditing Impact

(B)

B
SRP COMPANY
Balance Sheet
January 2, 2012
Cash* 8.480 Restructured Debt
Inventories 126.600 Due 2012 63.000
Palnt and Equipment 322.000 Due 2015 52.000
Less Accumulated Common Stock, $ 0.10 par
Depreciation -180.700 value*** 58.000
Land 20.800 Paid-in Capital in Excess of Par 174.180
Patent** 50.000

Total 347.180 Total 347.180

*$32,200 - $11,900 - $11,820

**$92,000 - $8,000 - $50,000
*** 0.1 x 580,000

C
31/12/2012 Interest Expense 3,780
Interest Payable ($63,000 x 0 .06) 3,780

02/01/2013 Interest Payable 3,780

Cash 3,780

Restructured Debt 5,200

Cash ($52,000 x.10) 5,200

1314F – Merger & Acquisition : Accounting & Auditing Impact

1314F – Merger & Acquisition : Accounting & Auditing Impact
 BRAN COMPANY
Jim Brown, Trustee
June 30, 2012 to December 31, 2012

Assets to be Realized Asset Realized

Receivables (old) 45.000 Receivable (Old) 38.000
Less: Allowence for Uncollectibles -6.000 39.000 Receivable (New) 85.000
Inventory 104.000 Plant and Equipment 39.000
Pant and Equipment 215.000
Less: Accumulated Depreciation -70.000 145.000 Asset Not Realized
Receivable (New) 15.000
Assets Acquired Less: Allowance for Uncollecibles 2.000 13.000
Receivable 100.000 Inventory 75.000
Plant and Equipment* 151.000
Supplementary Charges Less: Accumulated Depreciation -55.000 96.000
Purchases 35.000
Operating Expenses 47.000 Supplementary Credits
Trustee Expenses 2.000 Sales 130.000
Loss on Sale of Equipment 12.000 Gain omn Sale of Land 11.000

Liabilities Liquidated Liabilities to be Liquidated

Account Payable (Old) 110.000 Account Payable (Old) 145.000
Account Payable (New) 30.000
Liabilities Incurred
Liabilities Not Liquidated Account Payable (New) 35.000
Account Payable (Old) 35.000
Account Payable (New) 5.000
Net Gain 3.000

Total 667.000 Total 667.000

* $215,000 - $14,000 - $50,000 = $151,000

1314F – Merger & Acquisition : Accounting & Auditing Impact

 Cash
Balance June 30 15.000 Account Payable (Old) 110.000
Sales 30.000 Account Payable (New) 30.000
Account Receivable (Old) 38.000 Operating Expenses 47.000
Account Receivable (New) 85.000 Trustee Expenses 2.000
Sale of Land and Equipment 38.000
Balance December 31 17.000

Proof of Gain:
Sales $ 130,000
Cost of Sales ($104,000 + $35,000 - $75,000) (64,000)
Operating Expenses (47,000)
Trustee Expenses (2,000)
Bad Debts Expense (3,000)
Depreciation Expense (10,000)
Gain on Sale of Land 11,000
Loss on Sale of Equipment (12,000)
Net Gain $ 3,000

1314F – Merger & Acquisition : Accounting & Auditing Impact