EXERCISE 15-10 (2025 minutes)

(a) (1) The par value is $2.50. This amount is obtained from either of
the
following: 2011$545 218 or 2010$540 216.
(2) The cost of treasury shares was higher in 2011. The cost at
December 31, 2011 was $42 per share ($1,428 34) compared to
the cost at December 31, 2010 of $34 per share ($918 27).
(b) Equity (in millions of dollars)
Share capitalordinary, $2.50 par value, 500,000,000
shares authorized, 218,000,000 shares issued,
and 184,000,000 shares outstanding...................... $ 545
Share premiumordinary........................................... 891
Retained earnings ............................................................... 7,167
Less: Cost of treasury shares (34,000,000 shares).......... 1,428
Total equity........................................................... $ 7,175

LATIHAN 15-10 (20-25 menit)

(A) (1) Nilai nominal adalah $ 2,50. Jumlah ini diperoleh dari salah
satu
berikut: 2011- $ 545 218 atau 2010- $ 540 216.
(2) Biaya saham treasury lebih tinggi pada tahun 2011. Biaya di
31 Desember 2011 adalah $ 42 per saham ($ 1.428 34)
dibandingkan dengan
biaya pada tanggal 31 Desember 2010 sebesar $ 34 per saham ($
918 27).
(B) Ekuitas (dalam jutaan dolar)
Modal saham biasa $ 2,50 nilai nominal, 500.000.000
saham yang berwenang, 218.000.000 saham yang diterbitkan,
dan 184.000.000 saham yang beredar ...................... $ 545
Share premium-biasa ........................................... 891

Pendapatan yang
disimpan ................................................ ............... 7167
Kurang: Biaya saham treasury (34.000.000 saham) .......... 1428
Jumlah ekuitas ................................................ ........... $ 7.175

(Sebuah)
Peristiwa
tanggal
terkemuka
saham
Penyajian luar biasa
Pecahan
Tahun
tertimbang
saham
Saldo awal 1 Januari-Februari 1 480.000 1,2 X 3,0 12/01 144.000
saham yang dikeluarkan 1 Februari-Maret 1 600.000 1,2 X 3,0
12/01 180.000
Share dividen 1 Maret - 1 Mei 720.000 3,0 2/12 360.000
Membeli kembali saham 1 Mei - 1 Juni 620.000 3,0 12/01 155.000
membagi pangsa 1 Juni-Oktober 1 1.860.000 4/12 620.000
saham diterbitkan 1 Oktober-Desember 31 1920000 3/12 480.000
Rata-rata tertimbang jumlah saham yang beredar 1.939.000
(B) Laba Per Saham = 3256000000 (Net Income) = 1,679.22
1.939.000 (Weighted-rata Saham)
(C) Laba Per Saham = 3256000000 - 900.000 = 1,678.75
1.939.000
(D) Pendapatan dari operationsa terus .............................
1,902.01
Kerugian dari operationsb dihentikan ............................. (222,80)

Batas pemasukan ................................................ ......................

1,679.21
Pendapatan Anet ................................................ .....................
3256000000
Tambahkan kerugian dari operasi yang dihentikan .......................
432.000.000
Pendapatan dari operasi yang dilanjutkan ..............................
3688000000
3688000000 1.939.000 = 1,902.01
b (432.000.000) = 222,80 1.939.000

(a)
Event
Dates
Outstanding
Shares
Outstanding Restatement
Fraction
of Year
Weighted
Shares
Beginning balance Jan. 1Feb. 1 480,000 1.2 X 3.0 1/12 144,000
Issued shares Feb. 1Mar. 1 600,000 1.2 X 3.0 1/12 180,000
Share dividend Mar. 1May 1 720,000 3.0 2/12 360,000
Reacquired shares May 1June 1 620,000 3.0 1/12 155,000
Share split June 1Oct. 1 1,860,000 4/12 620,000
Reissued shares Oct. 1Dec. 31 1,920,000 3/12 480,000
Weighted-average number of shares outstanding 1,939,000

(b) Earnings Per Share = 3,256,000,000 (Net Income) = 1,679.22

1,939,000 (Weighted-Average Shares)

(c) Earnings Per Share = 3,256,000,000 900,000 = 1,678.75

1,939,000

(d) Income from continuing operationsa............................. 1,902.01

Loss from discontinued operationsb............................. (222.80)
Net income ...................................................................... 1,679.21
aNet income..................................................................... 3,256,000,000
Add loss from discontinued operations ....................... 432,000,000
Income from continuing operations.............................. 3,688,000,000
3,688,000,000 1,939,000 = 1,902.01
b (432,000,000) = 222.80 1,939,000

EXERCISE 16-18 (1015 minutes)

Event
Dates
Outstanding
Shares
Outstanding
Fraction
of Year
Weighted
Shares
Beginning balance Jan. 1May 1 210,000 4/12 70,000
Issued shares May 1Oct. 31 218,000 6/12 109,000
Reacquired shares Oct. 31Dec. 31 204,000 2/12 34,000
Weighted-average number of shares outstanding 213,000
Income per share before discontinued operations loss
($229,690 + $40,600 = $270,290;
$270,290 213,000 shares)....................................................... $1.27
Discontinued operations loss per share, net of tax
($40,600 213,000).................................................................... (.19)

Net income per share ($229,690 213,000) ................................ $1.08

LATIHAN 16-18 (10-15 menit)

Peristiwa
tanggal
terkemuka
saham
terkemuka
Pecahan
Tahun
tertimbang
saham
Saldo awal 1 Januari - 1 Mei 210.000 4/12 70.000
saham yang dikeluarkan 1 Mei-Oktober 31 218000 6/12 109000
saham dibeli kembali 31 Oktober-Desember 31 204000 2/12 34.000
Rata-rata tertimbang jumlah saham yang beredar 213.000
Laba per saham sebelum kerugian operasi dihentikan
($ 229.690 + $ 40.600 = $ 270.290;
$ 270.290 213.000 saham) ............................................. .......... $ 1,27
Dihentikan rugi operasi per saham, setelah dikurangi pajak
($ 40.600 213.000) ............................................. ....................... (0,19)
Laba bersih per saham ($ 229.690 213.000) ................................ $ 1,08

EXERCISE 16-20 (2025 minutes)

Earnings per ordinary share:
Income from continuing operations*................................... $1.89
Discontinued operations loss, net of tax** ......................... (.17)
Net income*** ........................................................................ $1.72
Income data:
Income from continuing operations.................................... $15,000,000
Deduct 6% dividend on preference shares......................... 300,000
Ordinary share income from discontinued operations...... 14,700,000
Deduct discontinued operations loss, net of tax ............... 1,340,000
Net income available for ordinary shareholders ................ $13,360,000

Dates
Outstanding
Shares
Outstanding
Fraction
of Year
Weighted
Shares
January 1April 1 7,000,000 3/12 1,750,000
April 1December 31 8,000,000 9/12 6,000,000
Weighted-average number of shares outstanding 7,750,000
*$14,700,000 7,750,000 shares = $1.89 per share
(income from continuing operations)
**$1,340,000 7,750,000 shares = ($.17) per share
(discontinued operations loss net of tax)
***$13,360,000 7,750,000 shares = $1.72 per share
(net income)

LATIHAN 16-20 (20-25 menit)

Laba per saham biasa:
Pendapatan dari operasi yang dilanjutkan * ................................... $ 1,89
Dihentikan rugi operasi, setelah dikurangi pajak ** ......................... (0,17)
Batas pemasukan*** ............................................. ........................... $ 1,72
Data pendapatan:
Pendapatan dari operasi yang dilanjutkan .................................... $ 15.000.000
Memotong dividen 6% pada saham preferensi ......................... 300.000
pendapatan saham biasa dari operasi yang dihentikan ...... 14700000
Mengurangi kerugian operasi dihentikan, setelah dikurangi pajak ............... 1.340.000
Laba bersih yang tersedia bagi pemegang saham biasa ................ $ 13.360.000
tanggal
terkemuka
saham
terkemuka
Pecahan
Tahun
tertimbang
saham
1 Januari - 1 April 7.000.000 3/12 1.750.000
1 April - 31 Desember 8.000.000 9/12 6.000.000
Rata-rata tertimbang jumlah saham yang beredar 7.750.000

* $ 14.700.000 7.750.000 saham = $ 1,89 per saham

(Pendapatan dari operasi yang dilanjutkan)
** $ 1.340.000 7.750.000 saham = ($ 0,17) per saham
(Operasi dihentikan loss setelah dikurangi pajak)
*** $ 13.360.000 7.750.000 saham = $ 1,72 per saham
(batas pemasukan)

EXERCISE 16-21 (1015 minutes)

Income from continuing operations before taxes......................
300,000
Income taxes ................................................................................ 120,000
Income from continuing operations ........................................... 180,000
Discontinued operations gain, net of applicable
income tax of 36,000 ............................................................... 54,000
Net income.................................................................................... 234,000
Per ordinary share:
Income from continuing operations* ................................... .41
Discontinued operations gain, net of tax**.......................... .18
Net income***......................................................................... .59

LATIHAN 16-21 (10-15 menit)

Pendapatan dari operasi yang dilanjutkan sebelum pajak ...................... 300.000
Pajak penghasilan ................................................ ................................ 120.000
Pendapatan dari operasi yang dilanjutkan ........................................... 180.000
operasi dihentikan memperoleh, setelah ditambah
pajak penghasilan dari 36.000 ............................................. .................. 54.000
Batas pemasukan................................................ .................................... 234.000
Per saham biasa:
Pendapatan dari operasi yang dilanjutkan * ................................... 0,41
mendapatkan operasi dihentikan, setelah dikurangi pajak ** .......................... 0,18
Batas pemasukan***............................................. ............................ 0,59

Dates
Outstanding
Shares
Outstanding
Fraction
of Year
Weighted
Shares
January 1April 1 200,000 3/12 50,000
April 1July 1 260,000 3/12 65,000
July 1Oct. 1 340,000 3/12 85,000
Oct. 1Dec. 31 370,000 3/12 92,500
Weighted-average number of shares outstanding 292,500
300,000 income tax of 120,000 preference dividends of 60,000
(6% of 1,000,000) = 120,000 (income available to ordinary
shareholders)
***120,000 292,500 shares = .41 per share (income from continuing
operations)
***54,000 292,500 shares = .18 per share (discontinued operations gain,
net of
tax)
***174,000 292,500 shares = .59 per share (net income)

tanggal
terkemuka
saham
terkemuka
Pecahan
Tahun
tertimbang
saham
1 Januari - 1 April 200.000 3/12 50.000
1 April - 1 Juli 260.000 3/12 65.000
1 Juli-Oktober 1 340.000 3/12 85.000
1 Oktober-Desember 31 370.000 12/03 92500

Rata-rata tertimbang jumlah saham yang beredar 292.500

300.000 - pajak penghasilan dari 120.000 - dividen preferensi 60.000
(6% dari 1.000.000) = 120.000 (pendapatan yang tersedia bagi pemegang saham biasa)
*** 120.000 292.500 saham = 0,41 per saham (laba dari operasi yang dilanjutkan)
*** 54.000 292.500 saham = 0,18 per saham (operasi dihentikan mendapatkan, bersih
pajak)
*** 174.000 292.500 saham = 0,59 per saham (laba bersih)

EXERCISE 16-22 (1015 minutes)

Event
Dates
Outstanding
Shares
Outstanding
Fraction
of Year
Weighted
Shares
Beginning balance Jan. 1April 1 800,000 3/12 200,000
Issued shares April 1Oct. 1 1,250,000 6/12 625,000
Reacquired shares Oct. 1Dec. 31 1,140,000 3/12 285,000
Weighted-average number of shares outstanding
unadjusted .................................................................................. 1,110,000
Share dividend, 2/15/11.................................................................. X 1.05
Weighted-average number of shares outstandingadjusted.....
1,165,500
Net income......................................................................................
$2,830,000
Preference dividend (280,000 X $50 X 7%) ...................................
(980,000)
$1,850,000
Earnings per share for 2010:
Net income applicable to ordinary shares = $1,850,000 = $1.59

Weighted-average number of ordinary shares outstanding 1,165,500

LATIHAN 16-22 (10-15 menit)

Peristiwa
tanggal
terkemuka
saham
terkemuka
Pecahan
Tahun
tertimbang
saham
Saldo awal 1 Januari - 1 April 800.000 12/03 200.000
saham yang dikeluarkan tanggal 1 April-Oktober 1 1.250.000 6/12 625.000
saham dibeli kembali 1 Oktober-Desember 31 1140000 3/12 285000
Rata-rata tertimbang jumlah saham luar biasa................................................. disesuaikan ................................. 1.110.000
Share dividen, 2/15/11 .......................................... ........................ X 1.05
Rata-rata tertimbang jumlah saham yang beredar disesuaikan ..... 1.165.500
Batas pemasukan................................................ ...................................... $ 2.830.000
dividen preferensi (280.000 X $ 50 X 7%) ................................... (980.000)
$ 1.850.000
Laba per saham untuk tahun 2010:
Laba bersih yang berlaku untuk saham biasa = $ 1.850.000 = $ 1,59
Rata-rata tertimbang jumlah saham biasa yang beredar 1.165.500

PROBLEM 16-7
(a) Basic EPS = $1,200,000 ($4,000,000 X .06)
600,000*
= $1.60 per share
*$6,000,000 $10
(b) Diluted EPS =
(Net income Preference dividends) +
Interest savings (net of tax)
Average ordinary shares + Potentially
dilutive ordinary shares
= $1,200,000 $240,000a + $97,200b
600,000 + 15,000c + 60,000d
= $1,057,200

675,000
= $1.57 per share
aPreference shares are not assumed converted since conversion
would be
antidilutive. That is, conversion of the preference shares increases
the
numerator $240,000 ($4,000,000 X .06) and the denominator 120,000
shares
[(4,000,000 100) X 3]
b$1,800,000 X .09 X (1 .40)
cMarket price Option price X Number of options Market price =
incremental shares
$25 $20 X 75,000 = 15,000 $25
d($2,000,000 $1,000) X 30 shares/bond

MASALAH 16-7
(A) EPS Dasar = $ 1.200.000 - ($ 4.000.000 X 0,06)
600.000 *
= $ 1,60 per saham
* $ 6.000.000 $ 10
(B) EPS dilusian =
(Laba bersih - dividen preferensi) +
bunga tabungan (setelah dikurangi pajak)
saham biasa rata-rata + Berpotensi
saham biasa dilutif
= $ 1.200.000 - $ 240,000a + $ 97,200b
600.000 + 15,000c + 60,000d
= $ 1.057.200
675.000
= $ 1,57 per saham
saham aPreference tidak diasumsikan dikonversi karena konversi akan
antidilutive. Artinya, konversi saham preferensi meningkatkan
pembilang $ 240.000 ($ 4.000.000 X 0,06) dan penyebut 120.000 saham
[(4.000.000 100) X 3]
b $ 1.800.000 X 0,09 X (1-0,40)
Harga cMarket - Pilihan harga X Jumlah harga pilihan Market = saham tambahan
$ 25 - $ 20 X 75.000 = 15.000 $ 25
d ($ 2.000.000 $ 1.000) X 30 saham / obligasi