AKUNTANSI KEUANGAN MENENGAH
SOAL 2
Feb 3, Purchased 2.500 shares of its own common stock at
$26,recording the stock at cost .(Prior to the purchase , there were 40.000 shares of $20 par common stock outstanding)
Jurnal Treasury Stock 65.000
Cash (2.500 x $26) 65.000
May Dectared a semiannual dividend of $1 on the 10.000 shares of prefferend stock and a $0.30 dividend on the common stock to stockholders of record on May 31, payable on june 15.
Jurnal Cah Dividends 21.250
Dividends Payable 21.250
(10.000x1)+{(40.000-2500)x0,30}
June 15 Paid Cash Dividends
Jurnal Cash Dividends Payable 21.250
Cash 21.250
Sept 23 Sold 1.000 shares of treasury stock at $28,receiving cash
Jurnal Cash ($28x1.000) 28.000 Treasury Stock ($26x1.000)
26.000
Share premium treasury ($2x1000) 2.000
Nov 1 Declared Semiannual dividends of $1 on the preferred stock and $0.30 on the common stock.in addition a 5% commond stock dividend was declared on the commond stock out standing to be capitalized at the fair market value of the commond stock,which is estimated at $30
Jurnal Cash Dividends 21.550
Cash dividend payable 21.550
(10.000x$1)+{(40.000-1500)x0.30}
Share Dividends 57.750
(40.000-1500)x5%x30
Ordinary share Premium distribute 38.500
(5%x38.500x20)
Share Premium ordinary 19.250
((30-20)x(5%x38.500)
Jurnal Cash Dividend payable 21.550
Dhare dividend distributable 38.500
Cash 21.550
Common share 38.500
SOAL 3
Jan 3, Split the common stock 2 for 1 and reduced the par from $100 to $50 per shares apter split, there were 800.000 common shares outstanding.
Jurnal No.Entry
Feb 20 Purchased 100.000 shares of the corporations own common stock at$64, recording to the stock at cost
Jurnal Treasury share (100.000x64) 6.400.000
Cash 64.000.000
May 1 Declared semiannual dividend of $0.80 on 60.000 shares of preferred stock and $0.40 on the commond stock to
stockholder of record on may 15, payable on june 1
Jurnal Cash Devidend 146.000
Devidend Payable 146.000
(Ps:60.000 x 0.80) + (Cs: 800.000-100.000x0.14)
Jun 1 Paid the cash dividend
Jurnal Dividend payable 146.000
Cash 146.000
Aug 5 Sold 84.000 shares of treasury stock at $78 receiving cash
Jurnal Cash (84.000x78) 6.552.000 Treasury share (84.000x64)
5.376.000
Share Premium treasury (78-16x84.000) 1.176.000
Nov.15 Declared semiannual dividends of $0.80 on the preferred stock and $0.15 on the common stock (before the stock dividen).in addition a 2% common stock dividend was declared on the commond stock outstading. The fair market value of the common stock is estimated at $80
Jurnal Cash Dividen 165.600
Dividend payable 165.600
(PS:0.80X60.000)+(CS:0.15X(800.000-100.000+84.000)
Stock Dividend 1.254.400
(800.000-100.000+84.000)x2%x$80
Ordinary share distribute 784.000
(15.680X$50)
Share premium ordinary 470.400
Dec.31 Paid the cash dividends and issued the certificates for the commond stock dovidends
Jurnal Devidend payable 165.600
Cash 165.600
Ordinary share distributable 784.000
Ordinary share 784.000
SOAL 4
On May 1,2012, Sally corp issued $600.000, 9%, 5-year bond at face value. The bonds were dated may 1,2012 and pay interest semiannually on May 1 and November 1. Financial statement are prepared annually on December 31.
a. Prepare Jurnal entry to record the issuance of the bonds
-Cash $600.000
Bonds payable $600.000
b. Prepare the adjusting entry to record the accrual of interest on December 31,2012
-Bonds interest expense $9.000
Bonds interst payable (600.000x9%x2/12) $9.000
c. Prepare journal entry to record payment interest on May 1,2013, assuming no accrual of interest from January 1,2013, to May 1,2013 -Bonds payable $9.000
Bonds interest expense $18.000
Cash $27.000
(4/12x9%x600.000)
d. Prepare the journal entry to record payment of interest on November 1, 2013\
-Bonds interest Expense $27.000
Cash(600.000x9%x6/12) $27.000
e. Assume that on Novemeber 1,2013, Chance calls the bonds at 102.Record the redemption of the bonds
-Bonds payable $600.000
Lost on bonds redemption $ 12.000
Cash $612.000
SOAL 5
Feb.3 Purchased merchandise on account from Onifade Co,. $410.000,term n/30.
Merchandise inventory $410.000
Account payable $410.000 Mar.3 Issued a 45-day,6% note for $410.000 to Onifade Co,. on
account
Account payable $410.000 Note payable
$410.000
Apr.17 Paid Onifade Co,. the ammoint owed on the note of march 3 Notes payable $410.000
Interest expense $ 3.075
Cash $413.075
(interest:410.000x6%x45/360)
June 1 Borrowed $250.000 from ALDHIEZER Bank,issuing a 60-day , 7,5% note
Cash $250.000
Notes payable $250.000
July 21 Purchased tools by issuing a$300.000 ,60-day no to Nash Co,. which discounted the note at the rate of 8%
Equipment $296.000
Interest expense $ 4.000 Note payable
$300.000
($300.000x8%x60/360)
July 31 Paid Aldhiezer bank the interest fue on the note of june 1 and renewed the loan by issuing a new 30-day,9% note for $250.000
Note Payable(7,5%,60days) $250.000 Interest expense $ 3.125 (7,5%x60/360x250.000)
Note payable(9%,30 day) $250.000
Cash $ 3.125
Aug.30 Paid Aldhiezer bank the amount due on the nite of july 31
Note payable $250.000
Interest Expense $ 1.875 (250.000x9%x30/360)
Cash $251.875
Sept.19 Paid Nash Co,. the amount due on the note of july 21
Note payable $300.000
Cash $300.000
Dec 1 Purchased officed equipment from Oso Co,. for $340.000 paying $40.000 and issuing a series of ten 8% notes for $30.000 each, coming due at 30-day interval
Equipment $340.000
Cash $ 40.000
Note payable $300.000
Dec 31 Paid amount due Oso Co,. on the first note in the series issued on December 1
Interest expense $ 200
(8%x30/360x30.000)
