ASISTENSI AKUNTANSI

KEUANGAN 1
PERTEMUAN
4
STATEMENT OF CASH
FLOWS TIM ASISTEN
DOSEN
PROBLEM
METHOD

INDIRECT

As a renowned accountant graduating from a reputable university, you are asked to

help prepare a statement of cash flows for Veritaserum Corporation, a company
based in the UK. The following information will be helpful for you in preparing the
statement for the period which ended on December 31, 2016:
1. The company earned a net income of 125,000. Depreciation expense was
recorded at 17,500.
2. The company sold several fxed assets during the year. The companys land
which had a balance of 50,000 was sold to Polyjuice Corp. for 64,000. Later,
the company sold its vehicle to Amortentia Corp. for 18,000, while the
balance of the vehicle on balance sheet was 27,000, having been depreciated
for an accumulated amount of 7,000.
3. Selected information relating to the companys current assets and liabilities
are as follows:
Accounts
December 31, 2015
December 31, 2016
Cash
37,000
?
Accounts receivable (net)
15,000
24,000
Inventory
47,000
40,000
Prepaid insurance
6,000
11,000
Accounts payable
1,000
4,500
4. The company acquired machinery from Mandrake Co. for 30,000. The cost
were paid in full using cash.
5. The company announced on December 1 that it would pay dividends for its
14,000 for its preference shareholders and 6,000 for its ordinary
shareholders. On December 15, the company paid 14,000, while the rest
remained payable. Meanwhile, the company spent 80,000 to retire its bonds.
Instruction:
Prepare a statement of cash flows for Veritaserum Corporation. Make use of the
information provided above.

PROBLEM 2 DIRECT METHOD

PT AKUN
Comparative Statement of Financial Position
As of December 31, 2015 (in US$)
Assets
Cash
Account Receivable
Merchandise Inventory
Investment-AFS
Equipments
Accumulated DepreciationEquipment
Total Assets
Liabilities and Equity
Account Payable
Bonds Payable
Share Capital-Ordinary
Share Premium-Ordinary
Retained Earnings
Total Liabilities and
Equity

2015
45,000
51,300
147,200
493,000

2014
53,500
58,000
135,000
60,000
375,000

(113,700)
622,800

(128,000)
553,500

2015
61,500
250,000
75,000
236,300

2014
42,600
100,000
200,000
50,000
160,900

622,800

553,500

PT AKUN
Income Statement (in US$)
For the year ended December, 31 2015

Sales
COGS
Gross Profit
Operating Expenses
Depreciation Expenses
Other Operating Expenses
Income from Operation
Other Revenues
Gain on sale of Investment
Other Expenses
Interest Expenses
Income before Taxes
Income Taxes
Net Income

24,700
75,300

623,000
348,500
274,500
100,000
174,500

5,000
12,000
-

7,000
167,500
(64,100)
103,400

Additional information:
1. In 2015, an equipment that had been fully depreciated with cost $39,000 was
written-off. A new equipment costing $152,000 was later bought.
2. Bonds payable worth $100,000 was paid on its nominal value in 2015.
3. 5,000 ordinary shares were issued on its market price of $15 in 2015.
4. Cash dividends were declared and paid in 2015.
5. All sales transaction was made in credit in 2015.
6. The effective tax rate in 2014 was 35%
7. Earning before interest and tax in 2014 was $160,000
8. Interest expense in 2014 was $32,000
9. The market prices of ordinary shares in 2014 and 2015 were $13 and $15.
10.

Cash dividends paid in 2014 were $32,000.

Instruction:
Prepare a statement of cash flows for PT Akun using direct method in determining
net cash flow from operating activitiesfor the year ended December 31, 2015.

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