JAWABAN :
(a) 1. Dividends Payable—Preference
(2,000 X $8).....................................................................
16,000
Dividends Payable—Ordinary
(20,000 X $2)...................................................................
40,000
Cash.......................................................................... 56,000
2. Dibeli : 2,700 x 40 = 108,000 108,000
Treasury Shares................................................................
Cash (2,700 X $40)................................................... 108,000
3. Land...................................................................................
30,000
Treasury Shares (700 X $40)................................... 28,000
Share Premium—Treasury..................................... 2,000
Diterbitkan : 30,000
Cost : 700 x 40 = 28,000
Premium = 2,000
4. Cash (500 X $105).............................................................
52,500
Share Capital—Preference
(500 X $100)........................................................... 50,000
Share Premium—Preference.................................. 2,500
Diterbitkan : 500 x 105 =52,500
Nilai pari : 500 x 100 = 50,000
Premium 2,500
5. Retained Earnings (1,800* X $5)...................................... 9,000
Ordinary Share Dividend Distributable
(1,800 X $5)............................................................ 9,000
*(20,000 – 2,700 + 700 = 18,000; 18,000 X
10%)
6. Ordinary Share Dividend Distributable........................... 9,000
Share Capital—Ordinary......................................... 9,000
7. Retained Earnings............................................................
59,600
Dividends Payable—Preference
(2,500 X $8)............................................................ 20,000
Dividends Payable—Ordinary
(19,800* X $2)........................................................ 39,600
*(18,000 + 1,800) : Jumlah saham biasa
yang beredar
Jumlah saham preferen yang beredar :
2,000 + 500 = 2,500 lembar
(b) ELIZABETH COMPANY
Partial Statement of Financial Position
December 31, 2020
Equity
Share capital—preference,
8%, $100 par, 10,000 shares
authorized, 2,500 shares issued and
outstanding............................................................$250,000
Share capital—ordinary,
$5 par, 100,000 shares
authorized, 21,800 shares issued, 19,800
shares outstanding............................................... 109,000 $ 359,000
Share premium—preference................................... 127,500
Share premium—treasury....................................... 2,000
Retained earnings.................................................... 711,400
Less: Treasury shares (2,000 ordinary shares).......... 80,000
Total equity............................................................... $1,119,900
P15.1 (LO1, 2, 4) (Equity Transactions and Statement
Preparation) On January 5, 2019, Phelps Corporation received a
charter granting the right to issue 5,000 shares of $100 par
value, 8% cumulative and non-participating preference shares,
and 50,000 shares of $10 par value ordinary shares. It then
completed these transactions
JAWABAN :
(a)
January 11
Cash (20,000 X $16)......................................320,000
Share Capital—Ordinary (20,000 X $10) ......... 200,000
Share Premium—Ordinary................................ 120,000
Diterbitkan : 20,000 x 16 = 320,000
Nilai pari : 20,000 x 10 = 200,000
Premium = 120,000
February 1
Machinery.......................................................50,000
Buildings.......................................................160,000
Land...............................................................270,000
Share Capital—Preference (4,000 X $100)....... 400,000
Share Premium—Preference............................ 80,000
July 29
Treasury Shares (1,800 X $17)......................30,600
Cash.................................................................... 30,600
Dibeli : 1,800 x 17 = 30,600
August 10
Cash (1,800 X $14)..........................................25,200
Retained Earnings (1,800 X $3).....................5,400*
Treasury Shares................................................ 30,600
Dijual : 1,800 x 14 = 25,200
Cost : 1,800 x 17 = 30,600
Rugi 5,400 : tidak ada share premium treasury
sehingga mengurangi retained earnings
*(The debit is made to Retained Earnings because no Share
Premium—Treasury exists.)
Retained Earnings..........................................37,000
Cash Dividend Payable—Ordinary.................. 5,000*
Cash Dividend Payable—Preference............... 32,000**
Jumlah saham biasa yang beredar : 20,000 – 1,800 + 1,800 =
20,000 lembar
*Ordinary Share Cash Dividend:
Ordinary shares outstanding 20,000
Ordinary cash dividend X $.25
$5,000
**(4,000 X $100 X 8%)
December 31
Income Summary...................................................... 175,700
Retained Earnings............................................. 175,700
(b) PHELPS CORPORATION
Partial Statement of Financial Position
December 31, 2019
Equity
Share capital—preference—
par value $100 per share,
8% cumulative and nonparticipating,
5,000 shares authorized,
4,000 shares issued and outstanding.............. $400,000
Share capital—ordinary—
par value $10 per share,
50,000 shares authorized,
20,000 shares issued and outstanding............ 200,000
$600,000
Share premium—preference................................ 80,000
Share premium—ordinary.................................... 120,000
200,000
Retained earnings................................................. 133,300*
Total equity............................................... $933,300
*($175,700 – $5,400 – $37,000)
