Nama : Ammar Yasir Bahanan

NIM : 041911333245
Mata Kuliah / Kelas : AKM 3 / L

E 22-2
Whitman SA began operations on January 1, 2019, and uses the average cost method of pricing
inventory. Management is contemplating a change in inventory methods for 2022. The
following information is available for the years 2019-2021.

Net Income Computed Using

Tahun
Average-Cost Method FIFO Method

2019 € 16,000 € 19,000

2020 18,000 21,000

2021 20,000 25,000

a. Prepare the journal entry necessary to record a change from the average-cost method to
the FIFO method in 2022.
Net Income Computed Using
Difference in
Average-Cost FIFO Income
Method Method

2019 € 16,000 € 19,000 € 3,000

2020 18,000 21,000 3,000

2021 20,000 25,000 5,000

Total at beginning of 54,000 65,000 11,000

2022

Journal
Inventory €11,000

Retained Earnings €11,000

 b. Determine net income to be reported for 2019, 2020, and 2021, after giving effect to
the change in accounting policy
Whitman SA
Income Statement
For The Year Ended December 31

2019 2020 2021

Sales XXX XXX XXX

COGS XXX XXX XXX

Operating Expenses XXX XXX XXX

Net Income € 19,000 € 21,000 € 25,000

E 22-6
Robillard SA acquired the following assets in January 2019.
• Equipment, estimated service life, 5 years; residual value, € 5,000 €465,000
• Building, estimated service life, 30 years; residual value €780,000
The equipment has been depreciated using the sum-of-the-years’-digits method for the first 3
years for financial reporting purposes. In 2022, the company decided to change the method of
computing depreciation to the straight-line method for the equipment, but no change was made
in the estimated service life or residual value. It was also decided to change the total estimated
service life of the building from 30 years to 40 years, with no change in the estimated residual
value. The building is depreciated on the straight-line method.
a. Prepare the journal entry to record depreciation expense for the equipment in 2022
Depreciation expense for equipment in 2022
Sum of the years digits depreciation:
• 2019 (5/15 x €450.000) €150.000
• 2020 (415 x €450.000) 120.000
• 2021 (3/15 x € 450.000) 90.000
€360.000
Cost of equipment €465.000
Depreciation to date (360.000)
Book value (31 dec 2021) €105.000
Depreciable cost = book value - residual value
= €105.000 - €15.000
= €90.000
Depreciation for 2022 = €90.000/2
= €45.000
Journal
Depreciation expense €45.000

Accumulated depreciation - equipment €45.000

 b. Prepare the journal entry to record depreciation expenses for the building in 2022.
(Round to nearest euro)
Depreciation expense for building in 2022
• €780.000/30 years = € 26.000 per year
• €26.000 x 3 = €78.000 depreciation to date
Cost of building €780.000
Depreciation to date (78.000)
Book value (31 dec 2021) €702.000
Depreciation for 2022 = €702.000/(40-3)
= €18.973 (rounded)
Journal:
Depreciation expense €18.973

Accumulated depreciation - building €18.973

E22.16
You have been engaged to review the financial statement of Longfellow Lumber. In the course
of your examination, you conclude that the bookkeeper hired during the current year is not
doing a good job. You notice a number of irregularities, as follows.
1. Year-end salaries and wages payable of €3,400 were not recorded because the bookkeeper
thought that “they were immaterial.”
Jurnal:
Salaries and Wages Expense €3.400

Salaries and Wages Payable €3.400

2. Accrued vacation pay for the year of €31,100 was not recorded because the bookkeeper
“never heard that you had to do that.”
Jurnal:
Salaries and Wages Expense €31.100

Salaries and Wages Payable €31.100

3. Insurance for a 12-month period purchased on November 1 of this year was charged to
insurance expense in the amount of €3,300 because “the amount of the check is about the
same every year.”
Jurnal:
 Prepaid Insurance [3.300 x (10/12)] €2.750

Insurance Expense €2.750

4. Reported sales revenue for the year is €1,908,000. This includes all sales taxes collected
for the year. The sales tax rate is 6%. Because the sales tax is forwarded to the Department
of Revenue, the Sales Tax Expense account is debited. The bookkeeper thought that “the
sales tax is a selling expense.” At the end of the current year, the balance in the Sales Tax
Expense account is €103,400.
Jurnal:
Sales Revenue [1.908.000/(106%)] x 6% €108.000

Sales Tax Payable €108.000

Sales Tax Payable €103.400

Salaries and Wages Payable €103.400

Using Your Judgment

Marks & Spencer
The financial statements of M&S (GBR) are presented in Appendix A. The complete annual
report, including the notes to the financial statements, is available online.
Instructions :
Refer to M&S’s financial statements and the accompanying notes to answer the following
questions.
a. Were there changes in accounting policies reported by M&S during the two years
covered by its income statements (2018-2019)? If so, describe the nature of the change and the
year of change.
M&S adopted the following policies during 1 January 2018 - 30 March 2019 are listed
below:
• IFRS 9 Financial Instruments.
• IFRS 15 Revenue from Contracts with Customers.
• Amendments to IFRS 4 Insurance Contracts regarding the implementation of IFRS
9 Financial Instruments.
• Interpretation IFRIC 22 Foreign Currency Transactions and Advance
Consideration.
• Amendments to IAS 40 Transfer of Investment Property.
• Amendments to IFRS 2 Share-Based Payments, on clarifying how to account for
certain types of share-based payment transactions.
• Annual improvements to IFRS Standards 2014-2016 Cycle (certain items effective
from 1 January 2017).

b. What types of estimates did M&S discuss in 2019?

 The estimates M&S discussed in 2019 were UK store estate, Property provision, Useful
lives and residual values of property, plant and equipment and intangibles, Impairment
of property, plant and equipment and intangibles, and Post-retirement benefits

Adidas and Puma

The financial statements of Adidas (DEU) and Puma (DEU) are presented in Appendix B and
C, respectively. The complete annual reports, including the notes to the financial statements,
are available online.
Instructions :
Use the companies’ financial information to answer the following questions.

a. Identify the changes in accounting policies reported by Puma during the 2 years covered
by its income statements (2017-2018). Describe the nature of the change and the year of
change.
• Laporan keuangan konsolidasi PUMA SE dan anak perusahaannya disusun
sesuai dengan "International Financial Reporting Standards (IFRS)", yakni
standar akuntansi yang dikeluarkan oleh International Accounting Standards
Board (IASB).
• Penyusunan laporan keuangan konsolidasi tersebut didasarkan pada historical
acquisition dan manufacturing costs, kecuali pada laba rugi penilaian aset dan
liabilitas keuangan pada nilai wajar.
• Standar dan interpretasi baru yang diubah berikut ini telah digunakan untuk
pertama kali dalam tahun keuangan saat ini:

b. Identify the changes in accounting policies reported by adidas during the 2 years
covered by its income statements (2017–2018). Describe the nature of the change and
the year of change.
• Laporan keuangan konsolidasi ADIDAS AG dan anak perusahaannya disusun
sesuai dengan "International Financial Reporting Standards (IFRS)" yang
sebagaimana diterapkan di Europe Union (EU).
 • Berikut standar dan interpretasi baru yang diubah dengan standar yang ada dan
telah diterapkan untuk pertama kali untuk laporan keuangan:
~IFRS 2 Amandements: Classification and Measurement of Share-Based
Payment Transactions
~ IFRS 4 Amandements
~ IFRS 9 Financial Instrument
~ IFRS 15 Revenue from Contract with Customers including Amandements to
IFRS 15: Effective Date of IFRS 15
~ Improvements to IFRSs (2014-2016): Amandements to IFRS 1 and IAS 28
~ etc.
• Penyusunan laporan keuangan konsolidasi tersebut didasarkan pada historical
cost basis dengan pengecualian pada items tertentu, seperti: financial
instruments, derivative financial instruments, dan plan assets yang mana yang
diukur pada nilai wajar.

c. For each change in accounting policy by adidas and Puma, identify, if possible, the
cumulative effect of each change on prior years and the effect on operating results in
the year of change.
PUMA
• Adoption of IFRS 15-Revenue from Contracts with Customer

ADIDAS