Michael Junico Haryadi

32120195
UTS Menejemen Keuangan
1. jawaban
I. anggaran modal

depresiasi proyek 1
260.000.000 = 52.000.000
5

depresiasi proyek 2
90.000.000 = 18.000.000
5

cash flow masing-masing proyek

tahun proyek sumatera tahun proyek kalimantan
1 52.000.000 + 52.000.000 = 104.000.000 1 40.000.000 + 18.000.000 = 58.000.000
2 52.000.000 + 52.000.000 = 104.000.000 2 20.000.000 + 18.000.000 = 38.000.000
3 52.000.000 + 52.000.000 = 104.000.000 3 10.000.000 + 18.000.000 = 28.000.000
4 52.000.000 + 52.000.000 = 104.000.000 4 10.000.000 + 18.000.000 = 28.000.000
5 52.000.000 + 52.000.000 = 104.000.000 5 10.000.000 + 18.000.000 = 28.000.000

A NPV
proyek sumatera proyek kalimantan
N cash flow DF PV cash flow N cash flow DF PV cash flow
1 104.000.000 0,893 92.872.000 1 58.000.000 0,893 51.794.000
2 104.000.000 0,797 82.888.000 2 38.000.000 0,797 30.286.000
3 104.000.000 0,712 74.048.000 3 28.000.000 0,712 19.936.000
4 104.000.000 0,636 66.144.000 4 28.000.000 0,636 17.808.000
5 104.000.000 0,567 58.968.000 5 28.000.000 0,567 15.876.000
PV Cashinflow 372.920.000 135.700.000
NET investment 260.000.000 90.000.000
NPV 112.920.000 45.700.000

Pay back periode

Proyek sumatera Proyek kalimantan
nilai investasi 260.000.000 90.000.000
cash flow 1 104.000.000 58.000.000
nilai investasi 156.000.000 32.000.000
cash flow 2 104.000.000
nilai investasi 56.000.000
cash flow 3

jadi 2 tahun 1 tahun

Proyek sumatera Proyek kalimantan

average of return 260.000.000 = 130.000.000 average of return 90.000.000 = 90.000.000
2 1
2. Jawaban

Bagian a :

PERHITUNGAN RATIO KEUANGAN

C. RENTABILITY /PROFITABILITY RATIO

NO URAIAN AUDIT 2010 AUDIT 2011

1 Net Return on Investment (ROI)

Laba Sebelum Pajak 1,080 495

Total Aktiva 2,240 1,850

2 Net Return on Equity (ROE)

Laba Setelah Pajak 540 199.8

Total Equitas 790 650

3 Gross Profit Margin

Penjualan : 3,000 2,000
Harga Pokok Penjualan : 1,300 1,050
Laba Kotor 1,700 950

Penjualan 3,000 2,000

4 Operating Profit Margin

Laba Kotor : 1,700 950

Beban Operasi : 500 400
Laba Usaha 2,200 1,350

Penjualan 3,000 2,000

6 Net Profit Margin

Laba Setelah Pajak 540 199.8

Penjualan 3,000 2,000

Bagian b :

PERHITUNGAN RATIO KEUANGAN

B. SOLVABILITY / LEVERAGE RATIO

NO URAIAN AUDIT 2010 AUDIT 2011

1 Total Debt to Total Asset

Hutang Jk Pendek : 950 750
Hutang Jk Panjang : 500 450
Total Hutang 1,450 1,200

Total Aktiva 2,240 1,850

2 Total Debt to Equity

Hutang Jk Pendek : 950 750
Hutang Jk Panjang : 500 450
Total Hutang 1,450 1,200

Total Ekuitas 790 649.8

3 Long Term Debt to Equity

Hutang Jangka Panjang 500 450

Total Ekuitas 790 649.8

Bagian C :

PERHITUNGAN RATIO KEUANGAN

A. LIQUIDITY RATIO

NO URAIAN 2010 2011

1 Current Ratio
Aktiva Lancar 1,430 1,050

Hutang Lancar 450 350

2 Cash Ratio
Kas & Setara Kas : 400 400
Deposito : - -
Investasi Jk Pendek : - -
Kas + Surat Berharga 400 400

Hutang Lancar 450 350

3 Acid Test Ratio/Quick Ratio

Kas & Setara Kas : 400 400
Deposito : - -
Investasi Jk Pendek : - -
Piutang : 630 350
Kas + Surat Berharga + Piutang 1,030 750

Hutang Lancar 450 350

4 Working Capital to Total Asset Ratio

Aktiva Lancar : 1,430 1,050
Hutang Lancar : 450 350
Modal Kerja 980 700

Total Aktiva 2,240 1,850

4. VI.
a. Liquidity ratio
1. current ratio
1,500,000 = 2.09090909 atau 209%
550,000
quick ratio
750,000 = 1.36363636 atau 136,36%
550,000
cash ratio
150,000 = 0,272727273 atau 27,27%
550,000

b. leverage ratio
Total debt to equity ratio
1,500,000 = 0.91 atau 91%
1,650,000
Long term debt equity ratio
950,000 = 0.6 atau 60%
1,650,000
Total debt to total assets ratio
1,500,000 = 0.476 atau 47,6%
3,150,000
Time interest earned ratio
1,000,000 = 20 atau 20%
50,000

c. Activity Ratio
Total assets turn over
5,000,000
3,150,000
Receivavle turn over
5,000,000
350,000
Average collection period
350,000 x 365
5,000,000
Inventory turn over
3,000,000
400,000
Average day inventory
400,000 x 365
3,000,000