1.

Create journal entrie under perpetual method for transactions as below:

1.1. Purchase of inventories. The inventories price was Rp 1,000,000,000. The company got
20% discount and this purchase was subject to 10% VAT. The term of payment was 30
days after invoice date.
1.2. Payment of payable. Thirty days later, the Company paid their payable for the purchase
above.
1.3. Sales of inventories. The company sold all of the inventories purchased above. Their
selling price was Rp 1,300,000,000 in total. The company gave 15% discount for the
customers and this sale was subject to 10% VAT. The term of payment was 1 week after
invoice date.
1.4. Service purchase. The company hired a technician to fix the broken electrical
installation. This service was subject to Income Tax art 23. The term of payment was
cash upon service delivery. The service fee was Rp 1,000,000.
1.5. Prepayment of warehouse rental. The company paid Rp 3,000,000,000 warehouse rental
fee for 12 months period.
1.6. Prepare journal entries which shall be recorded each month regarding warehouse rental
above.
2. Mention at least 3 pairs of eleminiation journal entries in consolidation process in the space
provided below.
3. At December 30, 2020, PT A paid dividend to their two shareholders: PT B dan PT C. PT B
owes 95% of PT A’s shares and PT C owes the rest of it. Total dividend paid by PT A was Rp
2,000,000,000. Prepare journal entries which shall be recorded by PT A, PT B, dan PT C.
4. Briefly explain the definition on fixed asset capitalization and mention at least 3 cost
components which are allowed to be capitalized under PSAK 16.