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11/04/2016 1
Equity
The residual interest in the assets of the company after deducting all
liabilities
Components:
1. Share capital
2. Share premium
3. Retained earnings
4. Accumulated other comprehensive income
5. Treasury shares
6. Non controlling interest (minority interest)
11/04/2016 2
Par value shares
• 1 March 2015, Moseley (PKP) issued 1.000.000 ordinary shares at par
value of Rp 1.000 in primary market. Transaction price is Rp 1.500 per
share.
• Cash Rp 1.491.000.000
• Income Tax Art 4(2) Rp 9.000.000
• Share Capital-ordinary Rp1.000.000.000
• Share Premium-ordinary Rp 500.000.000
11/04/2016 3
No Par Shares
• 1 March 2015, Moseley (PKP) issued 1.000.000 ordinary shares in
primary market. Transaction price is Rp 1.500 per share.
• Cash Rp 1.491.000.000
• Income Tax Art 4(2) Rp 9.000.000
• Share Capital-ordinary Rp1.500.000.000
• Without any share premium reported
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Shares issued with other Securities (Lump
Sum Sales)
• Challange: method to allocate the proceeds
1. Proportional Method
2. Incremental Method
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Proportional Method
• Company issues 1.000 shares of Rp 1.000 stated value ordinary shares
having a fair value of Rp 2.000 a share and 1.000 shares of Rp 1.000
par value preference shares having a fair value of Rp 1.200 a share for
lump sum Rp 3.000.000.
• FV of ordinary (1.000 x Rp 2.000) = Rp 2.000.000
• FV of preference (1.000 x Rp 1.200) = Rp 1.200.000
• Aggregate = Rp 3.200.000
• Ordinary: 2.000.000/3.200.000x3.000.000=Rp1.875.000
• Preferen:1.200.000/3.200.000x3.000.000 =Rp1.125.000
• Total Allocation =Rp3.000.000
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Proportional Method Journal
• Cash Rp 2.997.000
• Inc Tax Art4(2) Rp 3.000
• Share Capital-ordinary Rp 1.000.000
• Share Premium-ordinary Rp 875.000
• Share Capital-preference Rp 1.000.000
• Share Capital-preferences Rp 125.000
• Note: transaction in secondary market
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Incremental method
• Requirement: cannot determine all the fair value
• Company issues 1.000 shares of Rp1.000 stated value ordinary shares
having a fair value of Rp2.000 and 1.000 shares of Rp1.000 par value
preference share having no established fair value, for lump sum of Rp
3.000.000
• Lump sum receipt Rp 3.000.000
• Ordinary(1.000xRp2.000)(Rp 2.000.000)
• Preference Rp 1.000.000
11/04/2016 8
Incremental Method Journal
• Cash Rp 2.997.000
• Inc Tax Art4(2) Rp 3.000
• Share Capital-ordinary Rp 1.000.000
• Share Premium-ordinary Rp 1.000.000
• Share Capital-preference Rp 1.000.000
• Note: transaction in secondary market
11/04/2016 9
Non Cash Transaction
• Rule: record shares issued for non cash at fair value unless it cannot
be measured reliably, use the fair value of shares issued
• Moseley issues 100.000 of Rp1.000 par value ordinary shares.
Moseley cannot determine the fair value of the shares but the fair
value of the patent is Rp 150.000.000
• Patent Rp 150.000.000
• Share Capital-Ordinary Rp 100.000.000
• Share Premium-ordinary Rp 50.000.000
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Cost of issuing
• Record direct cost incurred to sell shares such as underwriting cost,
accounting and legal fees, printing costs and taxes as a reduction of
the amounts paid in and debits to share premium.
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Issues shares (on the floor)
• 25 January 2015, Moseley issues ordinary shares with carrying value
of Rp 200.000.000,receiving Rp 287.220.000 in secondary market
stock exchange. Levy or transaction cost was 0,03% and income tax
article 4 ver 2 was 0,1%
• Cash 286.846.614
• Inc tax Art 4(2) 287.220
• Transaction Exp 86.166
• Equity investment 200.000.000
• Share-Premium 87.220.000
• In IPO, extra Income tax article 4 ver 2 is 0,5%
11/04/2016 12
Reacquisition of shares
• It considers as dividend
• Reacquisition method: Cost method and Par value method
• Moseley acquire 10.000 shares at Rp 1.100 per share. There is
information about issuance transaction acquired Rp 5.000.000 share
premium
• Treasury stock Rp 11.000.000
• Cash Rp 11.000.000
• Share premium Rp 5.000.000
• Income tax art23 liability Rp 750.000
• Cash Rp 4.250.000
11/04/2016 13
Cash Dividend
• 31 December 2015, Moseley (PKP) declared a cash dividen of Rp
4.200.000 to Hindmarsh with 20% interest
• Cash Dividend 4.200.000
• Cash Dividend Payable 3.570.000
• Income tax 23 liability 630.000
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Requirement of Revaluation
• Fulfill all its tax obligations up to the last tax period before the period
of the assessment of revaluation
• Excluding the company obtained permission to keep books in the
English language and currency United States Dollar
11/04/2016 16
Revaluation Journal Entry
• Land Rp 135.000.000
• Unrealized Gain on RevaluationRp 121.500.000
• Income Tax Art19 Rp 13.500.000
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