TUGAS PRAKTIKUM AKUNTANSI KEUANGAN LANJUTAN FATA 2019

TUGAS LAB 8
INTERCOMPANY PROFIT TRANSACTIONS - BONDS

In 2028, PT Adhi Medika Indonesia (Adhimed) and PT Indolab Maju continued their
business as usual and maintained their accounting reports separately. During the year, PT Adhimed
made total sales of Rp60.200.000.000, as much as 40% of those sales were paid in cash and the rest
were on credit. Included in those sales were transactions made to PT Indolab Maju amounted to
Rp9.545.000.000 on account. The cost of sales for sales made to PT Indolab Maju was
Rp3.525.000.000. PT Adhimed also received a settlement of 50% for its accounts receivable
(including balance from inventory sales in 2027) and 32% for the note receivable (ignore the
interest effect in this transaction) in the beginning of 2028. The company also paid 56% of its
accounts payable and 40% of its mortgage payable from the balances from the balance at the
beginning of 2028. To expand its business, on January 10, 2028, PT Adhimed issued
Rp4.000.000.000 par of 10%, a 5-year bond that was sold for RpRp4.220.000.000. PT Adhimed
also made a total purchase of inventory from its suppliers as much as Rp32.000.000.000, with
32,8% of the purchase were paid in cash and the rest were on account. Included in those
transactions were purchases made from PT Indolab Maju for Rp6.000.000.000 which were all on
credit. PT Adhimed had total operating expenses (excluding the cost of sales) of
Rp9.962.800.000. Other expenses amounted to Rp1.450.000.000 were included in those
expenses and were paid in cash by PT Adhimed. PT Adhimed distributed Rp26.000.000.000
cash dividends near the end of the year. At year-end, PT Adhimed’s stock opname showed that
there was Rp23.322.000.000 worth of inventories left in its warehouse. Included in those ending
inventories were 20% of inventories bought from PT Indolab Maju. In 2028, the company’s
affiliate, PT Berkah Medika obtained a net profit of Rp2.100.000.000 and distributed cash
dividends to shareholders of Rp700.000.000. The other balances remained the same.
PT Indolab Maju made total sales in 2028 amounting Rp22.000.000.000 with as much as
65% of the total sales paid in cash and the rest on account. Including in those sales, there
were transactions made to PT Adhimed for Rp6.000.000.000 on account. The cost of sales
made to PT Adhimed was Rp3.750.000.000. PT Indolab Maju received settlement for 60% of
its accounts receivable and 75% of its notes receivable (ignore the interest effect in this transaction)
from the beginning balances in 2028. PT Indolab Maju also paid off 75% of its accounts payable
and 70% of its mortgage payable from the beginning balances in 2028.

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PT Indolab Maju decided to invest on 10% of PT Adhimed’s Bonds for Rp385.600.000 on

July 1, 2028, by buying the bonds in the open market. PT Indolab Maju made a total purchase of
Rp16.800.000.000, as much as 80% of the purchase were on credit and the rest were paid in
cash. Included in those purchases were transactions made from PT Adhimed amounting
Rp9.545.000.000 on credit. PT Indolab Maju had total operating expenses (excluding the cost of
goods sold) of Rp3.627.500.000. Other expenses amounted to Rp1.000.000.000 paid in cash and
were included in the total operating expenses. In 2028, PT Indolab Maju distributed cash
dividends for its shareholders amounting Rp420.000.000. After doing stock opname, PT Indolab
Maju found Rp2.820.000.000 worth of inventories at the end of the period. Including in those
ending inventories were a fifth of inventories purchased from PT Adhimed. The other accounts
remained the same.

Additional Information:

1. The interests were paid semiannually every January 1 and July 1

2. Straight-line amortization is applicable.
3. All intercompany transactions left in PT Adhimed’s and PT Indolab Maju’s ending inventories
on 2027 were sold this year at arms-length
4. Information regarding PT Adhimed and PT Indolab Maju’s plant assets other than land:

PT Adhimed
Book Value on Jan 1, 2028. Remaining Useful Life

Buildings from Indolab Maju - net Rp 2.720.000.000 17 years

Buildings - net Rp 83.573.600.000 22 years
Rp 86.293.600.000
Equipment A - net Rp 92.356.000.000 22 years

PT Indolab Maju
Book Value on Jan 1, 2028 Remaining Useful Life

Equipment from Adhimed - net Rp 10.120.000.000,00 22 years

Equipment - net Rp 21.802.500.000,00 17 years
Rp 31.922.500.000,00
Building - net Rp 15.045.000.000,00 17 years

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Required:
Prepare the separate financial statements consisting of Statement of Profit or Loss, Retained
Earnings Statement, and Statement of Financial Position for PT Adhi Medika Indonesia and PT
Indolab Maju on December 31, 2028, and provide the supporting calculations and journal entries
for issuance and investment on PT Adhi Medika Indonesia’s Bonds. Do not round off your
answers! (Hint: for the beginning of 2028 financial statements, use the separate financial
statements on December 31, 2027, which were your answers in Assignment 7).

Hint*:

- Financial statements on January 1, 2028, were your answers in Latihan Lab 7

- Net Income Adhimed is Rp26.015.900.000; Net Income Indolab Maju is Rp2.334.100.000;

Total Assets Adhimed is Rp407.299.614.200; and Total Assets Indolab Maju is
Rp101.422.550.000

- Make sure when calculating Constructive gain/loss, the Book Value of the bonds payable
was the value at July 1, 2028

*Make sure your answers are in accordance to the above hints as they will be used in Latihan
Lab 8

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JAWABAN TUGAS LAB 8

INTERCOMPANY PROFIT TRANSACTIONS – BONDS

1. Preliminary Computation
PT Adhimed
Issuance of Adhimed’s Bonds on January 10, 2028 (In Million)

Selling Price Rp 4.220,00

Face Value of the Bonds Rp 4.000,00
Premium Rp 220,00

𝑅𝑝220
𝐴𝑚𝑜𝑟𝑡𝑖𝑧𝑒𝑑 𝑃𝑟𝑒𝑚𝑖𝑢𝑚 = = 𝑅𝑝44 𝑝𝑒𝑟 𝑦𝑒𝑎𝑟
5 𝑦𝑒𝑎𝑟𝑠

PT Indolab Maju
Purchasing 10% of Adhimed’s Bonds on July 1, 2028 (In Million)

Purchase Price of Adhimed’s Bonds on July 1, 2028 Rp 385,60

Face Value of the Bonds (10% × Rp4.000) Rp 400,00
Discount Rp 14,40

𝑅𝑝14,4
𝐴𝑚𝑜𝑟𝑡𝑖𝑧𝑒𝑑 𝐷𝑖𝑠𝑐𝑜𝑢𝑛𝑡 = = 𝑅𝑝3,2 𝑝𝑒𝑟 𝑦𝑒𝑎𝑟
4,5 𝑦𝑒𝑎𝑟𝑠

Consolidated

BV of 10% Bonds Payable by Adhimed at July 1, 2028 Rp 419,80

(10% × (Rp4.220 – (Rp44 × 6/12)))
Purchase Price Rp 385,60
Constructive Gain Rp 34,20

𝑅𝑝34,20
𝑃𝑖𝑒𝑐𝑒𝑚𝑒𝑎𝑙 𝐴𝑚𝑜𝑟𝑡𝑖𝑧𝑒𝑑 = = 𝑅𝑝7,6 𝑝𝑒𝑟 𝑦𝑒𝑎𝑟
4,5 𝑦𝑒𝑎𝑟𝑠

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2. Journal Entries Related to Bonds Transactions (in Million Rupiah)

PT Adhimed

Date Accounts Debit Credit

10-Jan Cash 4.220
Bonds Payable 4.220

01-Jul Interest Expense 178

Bonds Payable 22
Cash 200

31-Dec Interest Expense 178

Bonds Payable 22
Interest Payable 200

PT Indolab

Date Accounts Debit Credit

01-Jul Investment in Adhimed’s Bonds 385,6
Cash 385,6

31-Dec Interest Receivable (400 × 10% × 6/12) 20,0

Investment in Adhimed’s Bonds 1,6
Interest Revenue 21,6

3. Balance at December 31, 2028 (In Million)

Bonds Payable (Adhimed’s) Investment in Adhimed’s Bonds

On January 10, 2028 Rp 4.220 On July 1, 2028 Rp 385,6

Premium Amortization Rp 44 Discount Amortization Rp 1,6
On December 31, 2028 Rp 4.176 On December 31, 2028 Rp 387,2

Interest Expense Rp 356 Interest Revenue Rp 21,6

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4. Calculation of Excess FV over BV (In Million Rupiah)

FV of 75% Interest Acquired 42.783

Implied Fair Value 57.044
Book Value 51.494
Total Excess of FV Over BV 5.550
Excess Allocation:
Inventory (220)
Other Current Asset 800
Land 1.505
Building 1.630
Equipment (1.030)
Other Liabilities 150
Allocation to Net Identifiable Assets 2.835
Goodwill 2.715
Excess FV Over BV 5.550

5. Income Calculation (In Million Rp)

CI Share (75%) NCI Share (25%)

Indolab's Reported Net Income (2.334,10) 1.750,575 583,525
Add:
Constructive Gain 34,200
Overvalued Depreciation of Equipment
(1.030÷20) 38,625 12,875
Unrealized profit in Indolab's Inventories on
Dec 31, 2027 - sold in 2028 (downstream) 151,40
Unrealized profit in Adhimed's Inventories on
Dec 31, 2027 - sold in 2028 (upstream) 130,575 43,525
Piecemeal recognition of deferral profit in
equipment (Downstream) (92÷23) 4,00

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Piecemeal recognition of deferral profit in

building (Upstream) (437,5÷17,5) 18,750 6,250
Less:
Undervalued Depreciation of Building
(1.630÷20) (61,125) (20,375)
Unrealized profit in Indolab Maju's
Inventories on Dec 31, 2028) - Downstream (1.204,00)
Unrealized profit in Adhimed's Inventories on
Dec 31, 2028 - Upstream (337,50) (112,500)
Piecemeal Recognition of Constructive Gain (3,80)
Income from Indolab Maju 521,70 513,30

6. Investment Calculation (In Million Rp)

Investment in Indolab Maju

CI (75%) NCI (25%)
Underlying BV of Indolab Maju on Dec 31,
2028 54.327,975 18.109,325

Add:
Other Current Assets 600,00 200,00
Land 1.128,75 376,25
Unamortized Building 978,00 326,00
Other Liabilities 112,50 37,50
Constructive Gain 30,40
Goodwill 2.036,25 678,75
Less:
Unamortized Equipment (618,00) (206,00)
Unrealized profit in Indolab Maju's Inventories
on Dec 31, 2028 - Downstream (1.204,00)
Unrealized profit in Adhimed's Inventories on
Dec 31, 2027 - Upstream (337,50) (112,50)
Unrealized Gain on Sale of Land (Downstream) (120,00)

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Unrealized Gain on Sale of Equipment

(Downstream) (84,00)
Unrealized Gain on Sale of Building (Upstream) (300,00) (100,00)
Investment in Indolab 56.550,375
NCI 19.309,325

OR

CI (75%) NCI (25%)

Investment balance on Jan 1, 2028 56.343,675 18.901,025
Indolab Adjusted Income 521,700 513,300
Less : Dividend 315 105
Investment in Indolab, Dec 31 2028 56.550,375 19.309,325

Investment in Berkah Medika

Investment account balance, Jan 1, 2028 9.642,55
Add: 35% of Berkah Medika's Net Income in 2028 735
Less: 35% of Berkah Medika's Dividends in 2028 245
Investment account balance, Dec 31, 2028 10.132,55

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7. Separate Financial Statements

PT INDOLAB MAJU
Statement of Profit or Loss
For the Year Ended December 31, 2028 (in Million Rupiah)
Sales 22.000,00
Interest Revenue 21,6
Total Revenues 22.021,60

Cost of Sales 16.060,00

Depreciation Expense 2.627,50
Other Expenses 1.000,00
Total Expenses 19.687,50

Net Income 2.334,10

PT ADHI MEDIKA INDONESIA

Statement of Profit or Loss
For the Year Ended December 31, 2028 (in Million Rupiah)
Sales 60.200,00
Income from Berkah Medika 735
Income from Indolab Maju 521,70
Total Revenues 61.456,70

Cost of Sales 25.478,00

Depreciation Expense 8.156,80
Interest Expense 356,00
Other Expenses 1.450,00
Total Expenses 35.440,80
Net Income 26.015,90

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PT INDOLAB MAJU
Retained Earnings Statement
For the Year Ended December 31, 2028 (in Million Rupiah)
Beginning Retained Earnings 36.188,20
Add: Net Income 2.334,10
Less: Dividends 420
Retained Earnings, Dec 31 38.102,30

PT ADHI MEDIKA INDONESIA

Retained Earnings Statement
For the Year Ended December 31, 2028 (in Million Rupiah)
Beginning Retained Earnings 137.327,875
Add: Net Income 26.015,900
Less: Dividends 26.000,000
Retained Earnings, Dec 31 137.343,775

PT INDOLAB MAJU
Statement of Financial Position
December 31, 2028 (in Million Rupiah)
Assets
Cash 23.465,202
Accounts Receivable-net 12.926,048
Interest Receivable 20,00
Inventories 2.820,00
Other Current Asset 2.084,100
Notes Receivable-net 325,00
Land 15.055,00
Buildings-net 14.160,00
Equipment-net 30.180,00
Investment in Bonds Adhimed 387,200

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Total Assets 101.422,550

Liabilities and Equity
Accounts Payable 14.138,850
Mortgage Payable 1.196,400
Other Liabilities 13.650,00
Capital Stock, Rp5.500 par 21.505,00
Additional Paid-in Capital 12.830,00
Retained Earnings 38.102,300
Total Liabilities & Equity 101.422,550

PT ADHI MEDIKA INDONESIA

Statement of Financial Position
December 31, 2028 (in Million Rupiah)
Assets
Cash 27.772,2417
Accounts Receivable-net 55.829,9475
Inventories 23.322,00
Other Current Asset 10.842,50
Notes Receivable-net 4.957,20
Land 47.400,00
Buildings-net 82.334,80
Equipment-net 88.158,00
Investment in PT Berkah Medika 10.132,550
Investment in PT Indolab Maju 56.550,375
Total Assets 407.299,6142

Liabilities and Equity

Accounts Payable 37.862,8392
Interest Payable 200,00
Bonds Payable 4.176,00
Mortgage Payable 11.376,00

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Other Liabilities 57.168,00

Capital Stock, Rp16.000 par 101.360,00
Additional Paid-in Capital 57.813,00
Retained Earnings 137.343,775
Total Liabilities & Equity 407.299,6142

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