MODUL PERKULIAHAN

Akuntansi
Keuangan
Lanjutan I

LIKUIDASI PERSEROAN
DAN REORGANISASI

Fakultas Program Studi Tatap Muka Kode MK Disusun Oleh

03
Ekonomi dan Bisnisl Akuntansi W321700013 Elok Kurniawati, SE., M.Ak

Abstract Kompetensi
Keadaan yang menyebabkan Kemampuan komunikasi dan
terjadinya pembubaran persekutuan argumentasi sesuai konsep teori
adalah :
1. adanya perjanjian
2. atas dasar undang-undang
 3. atas putusan pengadilan
Likuidasi adalah suatu keadaan
dimana baik persekutuan maupun
usaha perusahaan dibubarkan
semua.

Pembubaran Perseroan

Bab ini membahas masalah akuntansi dan legal yang berkaitan dengan perusahaan yang
mengalami kesulitan keuangan (financially distressed corporations).

Beberapa perusahaan dapat bangkit dari kesulitan keuangan melalui 2 cara :

1. Internal operating
2. Policy changes

Sementara beberapa yang lain harus melakukan penyembuhan2 tambahan selain dengan 2
cara diatas. Pada umumnya penyembuhan2 tersebut dapat diklasifikasi sbb : 1. Direct
agrrements with creditors → “equity insolvency”
2. Re-organizations ] “bankruptcy insolvency”
3. Liquidations ]

A debtor corporation dianggap insolvent apabila tidak dapat membayar hutangnya yang
sudah jatuh tempo, atau total hutangnya melebihi fair-value of its assets. Ketidak mampuan
melunasi kewajibannya disebut “equity insolvency”. Jika total hutang melebihi fair value total
assets disebut “bankruptcy insolvency”

Di USA perusahaan yang dalam proses kebangkrutan diatur dalam suatu undang-undang
(bankruptcy law) yang memberikan perlindungan kepada perusahaan yang bangkrut dari
berbagai kewajiban serta menjadi penengah yang adil kepada pihak2 yang berkaitan
(debtor, creditor, employee/labor).

Petisi kebangkrutan kepada pengadilan dapat dilakukan oleh 2 pihak :

- Debtor – “voluntary bankruptcy proceeding”
- Creditors - “involuntary bankruptcy proceeding”
Administrasi yang menangani kebangkrutan di USA ditangani oleh US. Trustee. Dalam
bankruptcy law dituliskan kewajiban dari debtor corp dan bankruptcy judge.

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Duties of the debtor corporation :
1. File a list of creditors, aschedule of assets & liabilities, and a statement of debtor’s
financially affairs.
2. Cooperative with the trustee as necessary to enable the trustee to perform his duties
3. Surrender all property to the trustee, including books, documents, records and paper
relating to the estate in cases involving a trustee.
4. Appear at hearings of the court as required.

Duties of the bankruptcy judge :

Secara umum jaksa adalah bersama dengan hakim menentukan pengadilan yang
memberikan keputusan yang se-adil-adilnya kepada semua pihak yang berkepentingan.

LIQUIDATION :
Dalam undang2 kebangkrutan di-tetapkan aturan dalam mengajukan petisi kebangkrutan
(voluntary/involuntary) serta tata cara pembentukan trustee.

Duties of the trustee in liquidation cases :

Secara umum tugas trustee adalah, The trustee take possession of the estate, converts the
estate assets into cash, and distributes the proceeds according to priority of claims as
directed by the bankruptcy court.

Tugas lain dari trustee dalam likuidasi adalah sbb :

- To investigate the financial affairs of the debtor.
- To provide information about the debtor’s estate and its administration to parties in
interest.
- To examine creditor claims and object to claims that appear improper
- If authorized to operate the debtor’s business, to provide periodic reports and summaries
of operations, a statement of receipts and disbursements and other information as the
court specifies.
- To file final reports on trusteeship as required by the court.

Trustee mempunyai hak dalam mengatur pembayaran (preferences dan voidable

preferences)
Apabila jumlah dana yang tersedia tidak mencukupi, maka prioritas pembayaran dilakukan
dengan urut-urutan sbb :

I. Secured Claims

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 Claims secured by valied liens

II. Unsecured Priority Claims

1. Administrative expenses incurred in preserving and liquidating the estate
including trustee’s fees and legal and accounting fees
2. Claims incurred between the date of filing an involuntary petition and the date a
trustee is appointed
3. Claims for wages, salaries, and commissions earned within 90 days of filing the
petition and not exceeding $ 2.000 per individual.
4. Claims for contributions to employee benefit plans arising from services rendered
within 180 days of filing the petition and limited to $ 2.000 per employee.
5. Claims of individuals not to exceed $ 900 arising from the purchase, lease or
rental of property that was not delivered or the purchase of services that were not
provided by the debtor.
6. Claims of governmental units for income or gross receipts taxes, property taxes,
employment taxes, excise taxes and customs duties that originated within one to
four years before filing (periods vary for different claims). Taxes collected or
withheld for which the debtor is liable and penalties related to the foregoing are
also included.

III. Unsecured Nonpriority Claims

1. Allowed claims that were timely filed
2. Allowed claims where proof of claims was filed late.
3. Allowed claims (secured and unsecured for any fine, penalty, or forfeiture, or for
multiple, exemplary, or punitive charges arising prior to the order for relief or
appointment of trustee.
4. Claims for interest on the unsecured priority claims or the unsecured non priority
claims.

IV. Stockholders’ Claims

Remaining assets are returned to the debtor corporation or its stockholders.

Ilustrasi Kasus Likuidasi :

PT. Sejati menderita kerugian besar (large operating loss) pada tahun 2001 dan pada
semester I tahun 2002 hampir seluruh hutang dagangnya sudah jatuh tempo serta piutang

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dagang yang dijaminkan kepada bank terancam default. Para kreditur tidak bersedia untuk
memberikan tambahan pinjaman maupun memperpanjang / reskedul tagihannya.

Pada tanggal 1 Agustus 2002 PT. Sejati mendaftarkan diri sebagai voluntary petition –
under bankruptcy act.
Balance sheet per 1 Agustus 2002 yang disusun oleh PT. Sejati dan statement of affairs ( a
legal document prepared for the bankruptcy court, yang berupa a financial statement that
emphasizes liquidation values and provides relevant information for trustee in liquidating the
debtor corp. It also provides information that may be useful to creditors and to the
bankruptcy court).

Statement of affairs disusun pada tanggal tertentu dan menunjukkan informasi neraca
dengan assets yang dinilai dengan expected net-realized values dan di-klasifikasikan
berdasarkan pada :
1. Availability for fully secured
2. Partially secured
3. Priority and unsecured creditors.

Liabilities diklasifikasikan berdasarkan :

1. Priority
2. Fully Secured
3. Partially Secured
4. Unsecured.

Historical cost sebagai angka pembanding. Berikut adalah neraca dan statement of affairs
PT. Sejati per 1 Agustus 2002 :

PT. Sejati
Balance Sheet
August 1, 2002
ASSETS :
Current Assets :
Cash 3.000
Marketable securities (at market) 7.000
Account receivable (net of estimated
Uncollectible accounts) 25.000

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 Inventories 50.000
Prepaid expenses 4.000 89.000
Long Term Assets :
Land 15.000
Building – net 40.000
Equipment – net 30.000
Intangible assets 6.000 91.000
Total Assets 180.000

LIABILITIES & STOCKHOLDERS’ EQUITY

Current Liabilities :
Accounts payable 65.000
Wages payable 13.000
Property taxes – payable 2.000
Note payable – bank 25.000
Note payable – suppliers 5.000
Interest payable 7.000 117.000
Mortgage Payable : 50.000
Total Liabilities 167.000
Stockholders’ Equity :
Capital stock 200.000
Retained earnings (187.000)
Total stockholders’ equity 13.000
Total Liabilities & stockholders’ equity 180.000
Catatan : Mortgage payable ditambah interest payable dijamin dengan land dan building.
Seluruh piutang dagang dijaminkan untuk bank loan, ditambah 2.000 unpaid interest
(included in interest payable)

PT. Sejati
Statement of Affairs – on August 1, 2002

Assets
Realizable Realizable
Values – Value
Liability Available
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Book offsets for for
Value secured unsecured
creditors creditors
Pledged for Fully Secured Creditors
55.000 Land & building – net 60.000
Less : Mortgage payable 50.000
Interest payable 5.000 55.000 5.000
Pledged for Partially Secured Creditors
25.000 Accounts receivable 22.000
Less : Note payable to bank 25.000
Interest payable 2.000 27.000 -
Available for Priority & Unsecured Creditors
3.000 Cash 3.000
7.000 Marketable securities 7.000
50.000 Inventories 55.000
4.000 Prepaid expenses -
30.000 Equipment – net 12.000
6.000 Intangible assets -
Total available for priority & unsecured creditors 82.000
15.000
Less : Priority liabilities
67.000
Total available for unsecured creditors
Estimated deficiency 8.000
180.000 75.000
Liabilities & Stockholders’ Equity
Secured & Unsecured
Book Priority Nonpriority
Value Claims Claims
Priority Liabilities
13.000 Wages Payable 13.000
Property taxes payable 2.000
15.000
Fully Secured Creditors
50.000 Mortgage payable 50.000
5.000 Interest payable 5.000
55.000
Partially Secured Creditors
25.000 Note payable – bank 25.000
2.000 Interest payable 2.000
27.000
Less : Accounts receivable pledged 22.000 5.000

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 Unsecured Creditors
65.000 Accounts payable 65.000
5.000 Notes payable to suppliers 5.000
Stockholders’ Equity
200.000 Capital stock -
(187.000) Retained earnings -
180.000 75.000
Diperkirakan assets PT. Sejati dapat dicairkan menjadi uang tunai dalam tempo 3
bulan dengan realizable value sbb :
- Cash 3.000
- Marketable securities 7.000
- Accounts receivable 22.000
- Inventories (net of selling expenses) 55.000
- Prepaid expenses none
- Land & building 60.000
- Equipment 12.000
- Intangible assets none
159.000

Dalam statement of affairs, assets yang dijaminkan kepada creditor, langsung di offset
dengan tagihan yang dijaminkan, sisanya jika ada untuk melunasi unsecured creditors, jika
ada priority / partially secured maka deficiency 8.000 (159.000 – 167.000) ditanggung
prorata oleh unsecured creditors, stockholders tidak menerima sama sekali.

Trustee Accounting :
Trustee akan mengambil alih assets debtor’s sebelum dibagikan kepada yang berhak
melalui keputusan bankruptcy court. Biasanya trustee membuat 1 set catatan akuntansi dari
pengambil-alihan assets debtor.

Jurnal yang dibukukan Trustee atas pengambil-alihan assets Sejati sbb :

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Dr. Cash 3.000
Dr. Marketable securities 7.000
Dr. Accounts receivable 25.000
Dr. Inventories 50.000
Dr. Prepaid expenses 4.000
Dr. Land 15.000
Dr. Building 40.000
Dr. Equipment 30.000
Dr. Intangible assets 6.000
Cr. Accounts payable 65.000
Cr. Wages payable 13.000
Cr. Property taxes payable 2.000
Cr. Note payable – bank 25.000
Cr. Note payable – suppliers 5.000
Cr. Interest payable 7.000
Cr. Mortgage payable 50.000
Cr. Estate Equity 13.000
(to record custody of PT. Sejati in liquidation)

Transaksi pada bulan I (Agustus) dari PT. Sejati Trusteeship dibukukan dalam trustee’s
books sbb :

1. A previously unrecorded utility bill for 500 is received

Dr. Estate equity ………………………… 500
Cr. Utilities payable – new …………………. 500

2. Intangible assets are deemed worthless and are written off :

Dr. Estate equity ………………………… 6.000
Cr. Intangible assets …………………………. 6.000

3. All inventory items are sold for 48.000 of which 18.000 is on account and 30.000 is in
cash
Dr. Cash ………………………………... 30.000
Dr. Account receivable – new ………….. 18.000
Dr. Estate equity ……………………….. 2.000
Cr. Inventories ……………………………….. 50.000

4. The equipment is sold for 14.200 cash

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 Dr. Cash ………………………………… 14.200
Dr. Estate equity ………………………… 15.800
Cr. Equipment ……………………………….. 30.000

5. Wages and property taxes owed on August 1 (priority liabilities) are paid :
Dr. Wages payable ……………………… 13.000
Dr. Property taxes payable ……………… 2.000
Cr. Cash ………………………………………. 15.000

6. Land & building are sold for 64.000 cash, and the mortgage payable and related interest
are paid
Dr. Cash ………………………………… 64.000
Cr. Land ……………………………………… 15.000
Cr. Building ………………………………….. 40.000
Cr. Estate equity ……………………………… 9.000

7. Insurance policies (included in prepaid expenses) are canceled, and a 1.000 cash refund
is received
Dr. Cash ……………………………….. 1.000
Cr. Prepaid expenses ………………………… 1.000

8. Accounts receivable of 21.000 are collected from the amounts owed to PT. Sejati at
August 1, the remaining 4.000 is uncollectible
Dr. Cash ………………………………. 21.000
Dr. Estate equity ……………………… 4.000
Cr. Accounts receivable …………………….. 25.000

9. The 21.000 received on account is applied to the bank note payable and related interest.
Dr. Interest payable …………………… 2.000
Dr. Note payable – bank ……………… 19.000
Cr. Cash …………………………………….. 21.000

10. Estate administration expenses of 3.000 are paid

Dr. Estate equity …………………… 3.000
Cr. Cash …………………………………. 3.000

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11. Trustee fee of 2.000 are accrued
Dr. Estate equity …………………….. 2.000
Cr. Trustee’s fee payable – new …………. 2.000

Untuk memonitor transaksi diatas maka trustee membuat 3 jenis laporan

1. Statement of cash receipts and disbursements
2. Statement of changes in estate equity
3. Statement of realization & liquidation

Daftar Pustaka
Beams, Floyd A. Advanced Accounting, 11th edition, Pearson education, Prentice Hall

Warren, Reeve, Cuchac, Wang, ” Principles of Financial Accounting on IFRS,” 2011,

Cengange Learning Asia Pte Ltd.

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Warren, Reeve and Fees, ”Accounting”, 2010 22th edition, Thomson South-Western.

Ikatan Akuntan Indonesia,” Standar Akuntansi Keuangan,” 2012 Salemba Empat, Jakarta.

Kieso, Weygandt,”Accounting Principles,”2007 10th edition, John Wiley & Sons Publishing.

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