PT.

WAHANA EKA SETIA

Name and Code of Accounts
BALANCE SHEET
1. ASSETS
1.1. Current assets
1.1.1. Cash and bank
1.1.1.1. Bank BNI Kayutangan Branch
1.1.1.2. Bank - other
1.1.1.3. Petty Cash Office
1.1.1.4. Petty Cash - Others
1.1.2. Marketable Securities
1.1.2.1. MS - Stocks
1.1.2.2. MS - Bonds
1.1.2.3. MS - Certificate
1.1.2.4. MS - Time deposits
1.1.2.5. Provision for Decreasing Securities Prices
1.1.3. Accounts Receivable
1.1.3.1. Accounts receivable
1.1.3.2. Allowance for losses on trade receivables
1.1.3.3. Receivables employee
1.1.3.4. Other receivables
1.1.4. Inventories
1.1.4.1. Merchandise Inventory
1.1.4.8. Other supplies
1.1.5. Persekot purchase
1.1.6. Prepaid expenses
1.1.6.1. Prepaid Expenses - Official Travel Expenses
1.1.6.2. Prepaid Expenses - Rent
1.1.6.3. Prepaid Expenses - Insurance
1.1.6.4. Prepaid Expenses - Other
1.1.7. Tax Advances
1.1.7.1 Advances for Corporate Income Tax
1.1.7.2 VAT input (VAT-In)
1.1.7.3 Other Tax Advances
1.1.8. Other current assets
1.2. Long term investment
1.2.1. Long Term Investment - Land
1.2.2. Long-term Investments - Securities
1.2.3. Agio / Disagio Long-term Investments - Securities
1.2.4. Long-term Investments - Others
1.1.7. Tax Advances
1.1.7.1 Advances for Corporate Income Tax
1.1.7.2 VAT input (VAT-In)
1.1.7.3 Other Tax Advances
1.1.8. Other current assets
1.2. Long term investment
1.2.1. Long Term Investment - Land
1.2.2. Long-term Investments - Securities
1.2.3. Agio / Disagio Long-term Investments - Securities
1.2.4. Long-term Investments - Others

1.3. Tangible Fixed Assets

1.3.1. Cost of fixed assets
1.3.1.1. Land and Land Rights
1.3.1.2. Building
1.3.1.3. Vehicle
1.3.1.4. Inventory
1.3.2. Accumulated Depreciation of Fixed Assets
1.3.2.1. Accumulated Depreciation of Buildings
1.3.2.2. Accumulated depreciation of vehicles
1.3.2.3. Accumulated Inventory Depreciation
1.4. Intangible Fixed Assets
1.4.1. Name and Trade Mark
1.4.2. Patent
1.4.3. Intangible Fixed Assets - Others
1.4. Other Fixed Assets
2. OBLIGATIONS
2.1. Short Term Liabilities
2.1.1. Business Obligations
2.1.2. Bank Obligations
2.1.3. Liability Fees
2.1.4. Dividend Liability
2.1.5. Tax Liability
2.1.5.1. Employee Income Tax Liability
2.1.5.2. Corporate Income Tax Liability
2.1.5.3. Output VAT (VAT - Out)
2.1.5.4. Other tax liabilities
2.1.6. Other Long-Term Obligations of Due Date
2.1.7. Other Liabilities
2.2 Long-term Liabilities
2.2.1. Long-term Liabilities - Bank
2.2.2. Bond Liabilities

3. EQUITY
3.1. Share Capital - Paid Up
3.2. Share premium
3.3. Disagio Shares
3.4. Donated Capital
3.5. Reserve
3.6. Retain earning
3.7. Dividend

PROFIT AND LOSS ACCOUNTS

4. INCOME
4.1. Income
4.1.1. Gross Sales
4.2. Sales Deduction
4.2.1. Sales discounts
4.2.2. Sales Returns

5. EXPENSES
5.1. Cost of goods sold
5.1.1. Purchase
5.1.2. Transportation expenses
5.1.3. Discount
5.1.4. Purchase return
6. GENERAL AND ADMINISTRATION
6.1. General and Administrative Expenses
6.1.1. Salary expense
6.1.2. Official Travel Expenses and Fuel
6.1.3. Telephone, Electricity and Water Expenses
6.1.4. Repair and Maintenance Expenses
6.1.5. Office Stationery Expense
6.1.6. Bad Debt Expense
6.1.7. Depreciation Expense
6.1.8. Insurance Expense
6.1.9. Rental expenses
6.1.10. Interest expense
6.1.11. Other Expenses

7. MARKETING
7.1. Marketing Expenses
7.1.1. Salary expense
7.1.2. Official Travel Expenses and Fuel
7.1.3. Telephone, Electricity and Water Expenses
7.1.4. Depreciation Expense
7.1.5. Advertising expenses
7.1.6. Commission Charges
7.1.7. Rental expenses
7.1.8. Insurance Expense
7.1.9. Other Expenses

8. EXTRAORDINARY INCOME AND EXPENSES

8.1. Other Income and Expenses
8.1.1. Other Income
8.1.2. Profit from Sales of Fixed Assets
8.1.3. Profit from Sales of Securities
8.1.4. Difference in Cash
8.1.5. Other Extraordinary Income / Profits
8.2. Other Expenses
8.2.1. Current Account Interest Expense
8.2.2. Loss on sale of fixed assets
8.2.3. Loss on Sales of Securities
8.2.4. Loss on Decrease in Securities Prices
8.2.5. Difference in Cash
8.2.6. Other extraordinary expenses / losses
9. PROFIT & LOSS
9.1. Estimated Corporate Income Tax
9.2. Dividend
9.3. Income Statement Summary

PT. WAHANA EKA SETIA

Significant of Accounting Policies
The company is an entity that applies Financial Accounting Standards for Entities without Public Accountability.. The following are
important accounting policies implemented by the company.
a. Basis for Preparation of Financial Statements
The financial statements are prepared based on the historical cost concept. The cash flow statement describes cash receipts and
disbursements from operating activities, investing activities and financing activities.
b. Accounts receivable
In business activities, the company sells merchandise to customers on credit with a period of 30 days. The balance of
allowance for losses on accounts receivable is stated at the calculation of allowance for losses on accounts at the end of each
year. Allowance for doubtful accounts is based on a review of the age of the accounts receivable with the following loss
rates:

Percentage
Not yet due 2.5%
Past due 1 - 30 days 3.0%
Past due 31 - 60 days 5.0%
Past due 61 - 90 days 7.5%
Past due 91 - above 8.0%
c. Inventories
Merchandise inventories are valued at cost or market which it lower (Comwil-Fifo) method. At the end of each year the company
takes stock-taking to determine year-end merchandise inventory. The Company also provides an allowance for impairment of
inventories based on a review of the condition of the inventories concerned.
d. Fixed assets
Fixed assets used in business are stated at cost. Depreciation is calculated using the straight line method with no residual value, as
long as the estimated economic benefits of the assets are as follows:
Fixed assets Estimated Using Life
Building 20 years
Emplacement and Parking 15 years
marketing vehicle 10 year
Administration Office Vehicle 8 years
Furniture 5 years
The cost of maintenance and repairs is charged to profit or loss as incurred, significant renewals and betterments are capitalized.
Fixed assets that have expired are removed from the group of fixed assets and presented in a separate note in the financial
statements.
e. Revenue and Expense Recognition
Income and expenses are recognized based on the accrual method, which is when the transactions are made.
f. Estimated income tax
The estimated income tax in the income statement is determined based on the taxable income in the year concerned with
the tax rates in accordance with the applicable Taxation Law.

PT. WAHANA EKA SETIA

Quote of Meeting Minutes
(General Meeting of Shareholder, Board of Directors and Directors)
25 June 2017 - Director
The company decided on a plan to procure a second-hand commercial car (Kijang SLX) for between Rp. 55,000,000 to
Rp. 65,000,000. The transaction was rushed to take place in July 2017.

December 5, 2017 - Director

The director is authorized by the shareholders and the board of commissioners to reappoint KAP. "Drs. M. Audy Prasetya & Rekan
”Jakarta in the financial statement audit assignment for the period ended December 31, 2017. The audit fee was the same as last
year's Rp. 5,600,000, - including VAT at 10% and PPh.23 at 2%. The full amount will be paid in full on December 20, 2017, when the
employment contract is signed.
December 17, 2017 – General Meeting of Shareholder
Announcement of dividend distribution for the results of 2017 operations with the following policies:
1. All 6,000 shareholders receive dividends of Rp. 5,000,000, - for every 500 shares of share ownership.
2. All participants totaling 6,000 shares receive dividends of Rp. 2,250,000 for every 1,000 shares of share ownership
3. All shareholders receive 50% payment at the end of the year 29 December 2017, taken in cash or via bank
BNI 46 Kayutangan Branch.

December 24, 2017 - Directors

Bank Credit Agreement in effect for the period 2017
The results of the meeting between the company and the leadership of BNI 46 Kayutangan Branch, it was agreed that for the
balance of the obligations on December 31, 2017, it would be paid with a rescheduling agreement as follows:
a. The installment period in 2017 is accelerated to a period of 2 (two) months for 4 installments each of Rp. 50,000,000, installment I
starting at the end of February 2017.
b. The prevailing interest rate is 12% per year (1% per month) and is calculated from the outstanding balance.
 PT. WAHANA EKA SETIA
Name and Code of Accounts

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 PT. WAHANA EKA SETIA
Significant of Accounting Policies
cial Accounting Standards for Entities without Public Accountability.. The following are
by the company.
ents
d on the historical cost concept. The cash flow statement describes cash receipts and
esting activities and financing activities.

merchandise to customers on credit with a period of 30 days. The balance of

e is stated at the calculation of allowance for losses on accounts at the end of each
based on a review of the age of the accounts receivable with the following loss

Percentage
or market which it lower (Comwil-Fifo) method. At the end of each year the company
erchandise inventory. The Company also provides an allowance for impairment of
on of the inventories concerned.

cost. Depreciation is calculated using the straight line method with no residual value, as
the assets are as follows:
Estimated Using Life
20 years
15 years
10 year
8 years
5 years
rged to profit or loss as incurred, significant renewals and betterments are capitalized.
d from the group of fixed assets and presented in a separate note in the financial

d on the accrual method, which is when the transactions are made.

e statement is determined based on the taxable income in the year concerned with
ble Taxation Law.

PT. WAHANA EKA SETIA

Quote of Meeting Minutes
Meeting of Shareholder, Board of Directors and Directors)

cure a second-hand commercial car (Kijang SLX) for between Rp. 55,000,000 to
d to take place in July 2017.

ers and the board of commissioners to reappoint KAP. "Drs. M. Audy Prasetya & Rekan
ignment for the period ended December 31, 2017. The audit fee was the same as last
% and PPh.23 at 2%. The full amount will be paid in full on December 20, 2017, when the
Shareholder
he results of 2017 operations with the following policies:
s of Rp. 5,000,000, - for every 500 shares of share ownership.
receive dividends of Rp. 2,250,000 for every 1,000 shares of share ownership
t the end of the year 29 December 2017, taken in cash or via bank

od 2017
mpany and the leadership of BNI 46 Kayutangan Branch, it was agreed that for the
2017, it would be paid with a rescheduling agreement as follows:
rated to a period of 2 (two) months for 4 installments each of Rp. 50,000,000, installment I

ear (1% per month) and is calculated from the outstanding balance.