PAPAN & Subsidiaries

CONSOLIDATED WORKING PAPERS

per December 31, 2011

Upstream-sales in Inventory

Accounts

PAPAN

Adjustment & Elimination

Debit
Credit

SANI

Income Statement + RE :

Sales

436,500,000

Devidend Income
Cost of sales
Depreciation expenses
Interest expenses
Other operating expenses
Net income

300,000,000

36,000,000
(291,000,000)

(180,000,000)

(18,200,000)

(9,000,000)

(5,900,000)

(3,000,000)

(15,900,000)

(28,000,000)

141,500,000

80,000,000

229,500,000

79,500,000

Less : devidend

(100,000,000)

(40,000,000)

Ending R/E, December 31

271,000,000

119,500,000

Cash

57,650,000

18,700,000

Account Receivable

45,000,000

24,000,000

Inventories

45,000,000

68,000,000

Other current assets

46,700,000

13,300,000

NCI Expense
Consolidated Net Income
Add : Beginning R/E, January 1

Balance sheet :
Assets :

Land

350,000,000

97,300,000

Building

214,000,000

274,000,000

Accumulated Depreciation - Building

(122,500,000)

(8,700,000)

263,200,000

35,900,000

Accumulated Depreciation - Equipment

(275,500,000)

(15,000,000)

Investment in SANI

404,550,000

Equipment

Patent
Total assets

1,028,100,000

507,500,000

Account payable

24,000,000

19,100,000

Other current liabilities

23,500,000

18,900,000

Liabilities + equities :

8% Bond payable

309,600,000

Capital stock

400,000,000

350,000,000

271,000,000

119,500,000

1,028,100,000

507,500,000

Retained Earnings, December 31

NCI Equity
Total liabilities + equities

PT Papan membeli 90% kepemilikan Sani dengan harga Rp404.550.000 pada awal tahun 2010. Afiliasi Papan dan Sani merupakan integrasi vertikal, dimana Sani
menjual semua barang dagangnya ke Papan. Selisih biaya investasi Papan atas Sani dialokasikan ke Bangunan (overvalued Rp20.000.000) dan sisanya ke Paten
(masih proporsi 100%). Bangunan masih memiliki umur manfaat 10 tahun, sedangkan Paten 5 tahun. Sani menetapkan margin 40% dari harga penjualan. Nilai
persediaan akhir yang dimiliki Papan terkait dengan pembelian barang dagang dari Sani. Begitu pula nilai Utang Dagang dari Papan terkait dengan Piutang Dagang milik
Sani.

Consolidated
Financial Statement

kan integrasi vertikal, dimana Sani

p20.000.000) dan sisanya ke Paten

40% dari harga penjualan. Nilai

pan terkait dengan Piutang Dagang milik

PAPAN & Subsidiaries

CONSOLIDATED WORKING PAPERS
per December 31, 2010

Upstream-sales in Inventory

Accounts

PAPAN

Adjustment & Elimination

Debit
Credit

SANI

Income Statement + RE :

Sales

246,000,000

Devidend Income

18,000,000

Cost of sales

(164,000,000)

Depreciation expenses
Interest expenses
Other operating expenses

a.

200,000,000

e.

18,000,000

(120,000,000) b.

14,400,000

a.

200,000,000

14,000,000

e.

2,000,000

e.

18,000,000

f.

2,000,000

(18,200,000)

(9,000,000)

(5,900,000)

(3,000,000)

(15,900,000)

Net income

200,000,000

60,000,000

(18,000,000) d.
50,000,000

NCI Expense

f.

2,360,000

c.

49,500,000

Consolidated Net Income

Add : Beginning R/E, January 1

249,500,000

49,500,000

Less : devidend

(80,000,000)

(20,000,000)

Ending R/E, December 31

229,500,000

79,500,000

Cash

27,650,000

8,700,000

Account Receivable

25,000,000

15,000,000

g.

15,000,000

Inventories

36,000,000

48,000,000

b.

14,400,000

Other current assets

46,700,000

9,000,000

Land

216,800,000

97,300,000

Building

214,000,000

2,000,000 c.

20,000,000

c.

404,550,000

d.

14,000,000

c.

44,950,000

f.

360,000

Balance sheet :
Assets :

Accumulated Depreciation - Building

274,000,000 d.

(102,500,000)

(7,400,000)

Equipment

134,400,000

35,900,000

Accumulated Depreciation - Equipment

(25,000,000)

(13,000,000)

Investment in SANI

404,550,000

Patent
Total assets

977,600,000

467,500,000

15,000,000

19,100,000

c.

70,000,000

g.

15,000,000

c.

350,000,000

Liabilities + equities :
Account payable
Other current liabilities

23,500,000

18,900,000

8% Bond payable

309,600,000

Capital stock

400,000,000

350,000,000

229,500,000

79,500,000

Retained Earnings, December 31

NCI Equity

Total liabilities + equities

977,600,000
467,500,000
PT Papan membeli 90% kepemilikan Sani dengan harga Rp404.550.000 pada awal tahun 2010. Afiliasi Papan dan Sani merupakan integrasi vertikal, dimana
Sani menjual semua barang dagangnya ke Papan. Selisih biaya investasi Papan atas Sani dialokasikan ke Bangunan (overvalued Rp20.000.000) dan
sisanya ke Paten (masih proporsi 100%). Bangunan masih memiliki umur manfaat 10 tahun, sedangkan Paten 5 tahun. Sani menetapkan margin 40% dari
harga penjualan. Nilai persediaan akhir yang dimiliki Papan terkait dengan pembelian barang dagang dari Sani. Begitu pula nilai Utang Dagang dari Papan
terkait dengan Piutang Dagang milik Sani.

Consolidated
Financial Statement

246,000,000
(98,400,000)
(27,200,000)
(8,900,000)
(45,900,000)
(2,360,000)
63,240,000
249,500,000
(80,000,000)
232,740,000

36,350,000
25,000,000
69,600,000
55,700,000
314,100,000
470,000,000
(109,900,000)
170,300,000
(38,000,000)
56,000,000
1,049,150,000

19,100,000
42,400,000
309,600,000
400,000,000
232,740,000

45,310,000

1,049,150,000
Sani merupakan integrasi vertikal, dimana

an (overvalued Rp20.000.000) dan

un. Sani menetapkan margin 40% dari

tu pula nilai Utang Dagang dari Papan

Investment cost 90%

Total FV aset neto - Sani
Total BV aset neto - Sani
EV

404,550,000
449,500,000
(399,500,000)
50,000,000

Alokasi excess value :

a. Building
(20,000,000)
b. Paten
70,000,000
50,000,000
Jurnal eliminasi dan penyesuaian tahun 2010 :
a. Investment in Sani
27,000,000
R/E beginning (Papan)

27,000,000

*90% x (79.500.000 - 49.500.000)

jurnal penyesuaian saldo Investment in Sani dengan ekuitas Sani awal 2011

b. R/E beginning (Papan)

Investment in Sani

10,800,000
10,800,000

amortisasi paten tahun 2010 :

overvalue Building
Paten

2,000,000
(14,000,000)
(12,000,000)
beban amortisasi yang diakui oleh Papan di tahun 2011 = 90% x 12,000,000

c.

Sales-S

300,000,000
COGS-P

d. R/E -beginning (P)

NCI Equity
COGS

300,000,000
12,960,000
1,440,000
14,400,000

jurnal mencatat realisasi laba pada persediaan awal tahun 2011

e. COGS

18,000,000

Inventory
* 40% x Rp45.000.000 (E/I Papan)

f.

Capital stock-S
R/E- S
Patent
Building
Investment in Sani
NCI Equity

g. Other operating expense

Patent
*70 juta : 5 tahun
h. Acc. Depreciation-Building
Depr expense
i.

Devidend Income

18,000,000

350,000,000
79,500,000
56,000,000
18,000,000
420,750,000
46,750,000
14,000,000
14,000,000

2,000,000
2,000,000
36,000,000

Devidend
j.

NCI Expense
NCI Equity
Dividend

36,000,000
6,440,000
4,440,000
2,000,000

*10% x (N/I-Sani - amortisasi Paten + amortisasi Gedung - unrealized profit in E/I)

10% x (80,000,000 - 14,000,000 + 2,000,000 + 14,400,000 - 18.000.000)

k.

Account Payable
Account Receivable

24,000,000
24,000,000

Investment cost 90%

Total FV aset neto - Sani
Total BV aset neto - Sani
EV

404,550,000
449,500,000
(399,500,000)
50,000,000

Alokasi excess value :

a. Building
(20,000,000)
b. Paten
70,000,000
50,000,000
Jurnal eliminasi dan penyesuaian tahun 2010 :
a. Sales-S
200,000,000
COGS-P
b. COGS

14,400,000

Inventory
* 40% x 36.000.000 (E/I Papan)
c.

Capital stock-S
R/E- S
Patent
Building
Investment in Sani
NCI Equity

d. Other operating expense

Patent
*70 juta : 5 tahun
e. Acc. Depreciation-Building
Depr expense
f.

Devidend Income
Devidend

g. NCI Expense
NCI Equity
Dividend

200,000,000

14,400,000

350,000,000
49,500,000
70,000,000
20,000,000
404,550,000
44,950,000
14,000,000
14,000,000

2,000,000
2,000,000
18,000,000
18,000,000
2,360,000
360,000
2,000,000

*10% x (N/I-Sani - amortisasi Paten + amortisasi Gedung - unrealized profit in E/I)

10% x (50,000,000 - 14,000,000 + 2,000,000 - 14,400,000)

h. Account Payable
Account Receivable

15,000,000
15,000,000

Puas & Subsidiaries

CONSOLIDATED WORKING PAPERS
per December 31, 2010

upstream-sales in plant asset

Accounts

PUAS

SENANG

Income Statement + RE :
Sales

1,000,000

Devidend Income
Gain on Equipment

600,000

45,000
5,000

Gain on sale of land

Cost of Good Sold

(600,000)

(360,000)

(30,000)

(30,000)

(110,000)

(70,000)

Other operating expenses

(10,000)

(10,000)

Net income

300,000

130,000

470,000

140,000

Dividend

(150,000)

(80,000)

Ending R/E, December 31

620,000

190,000

87,000

45,000

106,000

65,000

Depreciation expenses
Operating expense

NCI Expense
Consolidated Net Income
Beginning R/E

Balance sheet :
Assets :
Cash
Account Receivable
Dividend Receivable

Inventories

150,000

120,000

46,000

30,000

Land

400,000

240,000

Building

260,000

200,000

270,000

180,000

Supplies

Accumulated Depreciation - Building

Equipment
Accumulated Depreciation - Equipment
Investment in Senang

486,000

Patent
Total assets

1,805,000

880,000

85,000

60,000

Liabilities + equities :
Account payable
Dividend Payable

30,000

Other liabilities

200,000

200,000

Capital stock

900,000

400,000

620,000

190,000

1,805,000

880,000

Retained Earnings, December 31

NCI Equity

Total liabilities + OE

idiaries
RKING PAPERS
31, 2010

Adjustment & Elimination

Debit
Credit

Consolidated
Financial Statement

1,600,000
45,000

5,000

20,000

(20,000)
(960,000)
667

(59,333)
(180,000)

5,600

800

(24,800)
343,280

12,587

169,520

(12,587)

36,000

476,480

45,000

(185,000)

5,000

5,000
639,760

132,000
171,000
45,000

(45,000)

270,000
76,000
20,000

40,000

620,000

800

15,200

445,600
-

5,000
667

445,000
667

36,000

522,000

22,400

5,600

16,800
2,132,067

145,000
45,000

(15,000)
400,000

400,000

900,000
639,760

2,000

64,307

62,307

2,132,067

j.

Nilai investasi pada tahun Akuisisi

Cost
486,000
FV aset neto
540,000

Alokasi EV
Inventory
Land

BV Aset neto

Building (Overvalued)

500,000

EV

40,000

Patent
EV

Jurnal Pembayaran dividen(senang)

Dividend

80,000
Dividend Payable

80,000

Dividend Payable

50,000
Cash

50,000

Penjualan Tanah
Harga Jual

100,000

Harga perolehan

80,000

Gain on Sale of land

20,000

Jurnal eliminasi tahun 2011 :

a.

Investment in SENANG

36,000
R/E

b.

R/E

11,520

Investment in SENANG

c.

Gain on Sale of Land

20,000
Land

d.

R/E

18,000

NCI Equity

2,000
Land

e.

Gain on Sale of Equipment

5,000

Equipment

Accumulated Depreciation- Equipment

667

Depreciation expense

f.

Capital Stock

400,000

R/E

140,000

Patent

22,400

Land

20,000
Building
Investment In Senang
NCI Equity

g.

Dividend Income

45,000
Dividend

Dividend Payable

45,000
Dividend Receivable

h.

Building

800
Other operating expenses

Other operating expenses

Patent

j.

NCI Expense

5,600

12,587
Dividend
NCI Equity

8,000
20,000

Depresiasi
Inventory
Building(Overvalued)

16,000

Patent

28,000

Total deprresasi-2010

40,000

Jurnal Penerimaan Dividen (Puas)

Dividend Receivable
Dividend Income
Cash
Dividend Receivable

Penjualan Peralatan
Harga Jual

45,000

Harga Perolehan

80,000

Akumulasi penyusutan

40,000

Nilai Buku

40,000

Penyusutan 2011 -Senang

6,000

Penyusutan 2011-Puas

5,333

36,000

11,520

20,000

20,000

5,000

667

15,200
510,480
56,720
45,000

45,000

800

5,600

5,000
7,587

(8,000)
800
(5,600)
(12,800)

30,000
30,000
30,000
30,000