NAMA : Suci Purnama Devi

NIM/ KELAS : F0318108/ AKM III A

DOSEN PENGAMPU : Dra. Evi Gantyowati, M.Si., Ak.
TANGGAL : Jumat, 17 April 2020 – Jumat, 24 April 2020 (Take Home)

UJIAN TENGAH SEMESTER

AKUNTANSI KEUANGAN MENEGAH 3

E17.9 (LO4) (Comprehensive Income Disclosure) Assume the same information as E17.6
and that Steffi Graf SA reports net income in 2019 of €120,000 and in 2020 of €140,000.
Total holding gains (including any realized holding gain or loss) equal €40,000 in 2020.
Instructions
a. Prepare a statement of comprehensive income for 2019, starting with net income.
b. Prepare a statement of comprehensive income for 2020, starting with net income.
Solution
a.
STEFFI GRAF SA
Statement of Comprehensive Income
For the Year Ended December 31, 2019
Net Income $120,000
Other comprehensive income
Unrealized holding gain 1,100
Comprehensive income $121,100

b.
STEFFI GRAF SA
Statement of Comprehensive Income
For the Year Ended December 31, 2020
Net Income $120,000
Other comprehensive income $40,000
Holding gain
Add: Reclassification adjustment for loss include in
net income 2,400 42,400
Comprehensive income $162,400

Accumulated other comprehensive income:

Beginning balance, Januari 1, 2020 $1,100
Current period other comprehensive income $40,000
Amount reclassified from accumulated other
comprehensive income 2,400
Unrealized holding gain 42,400
Ending balance, December 31, 2020 $43,400
P21.13 (LO2, 3, 4) (Statement of Financial Position and Income Statement Disclosure-
Lessee) The following facts pertain to a non-cancelable lease agreement between Alschuler
Leasing and McKee Electronics, a lessee, for a computer system.
Commencement date October 1, 2019
Lease term 6 years
Economic life a leased equipment 6 years
Fair value of asset at October 1, 2019 £313,043
Book value of asset at October 1, 2019 £280,000
Residual value at end of lease term 0
Lessor’s implicit rate 8%
Lessee’s incemental borrowing rate 8%
Annual lease payment due at the beginning of each year, beginning with £62,700
October 1, 2019

The collectibility of lease payments is probable by the lessor. The asset will revert to the
lessor at the end of the lease term. The straight-line depreciation method is used for all
equipment.

The following amortization schedule has been prepared correctly for use by both lessor and
the lessee in accounting for this lease. The lease is to be accounted for properly as a sales-
type lease by the lessor.
Reduction of
Interest (8%) on
Lease Lease Balance of Lease
Date Unpaid
Payment/Receipt Liability/ Liability/Receivable
Liability/Receivable
Receivable
10/01/19 £313,043
10/01/19 £62,700 £62,700 250,343
10/01/20 62,700 £20,027 42,673 207,670
10/01/21 62,700 16,614 46,086 161,584
10/01/22 62,700 12,927 49,773 111,811
10/01/23 62,700 8,945 53,775 58,056
10/01/24 62,700 4,644 58,056 0
£376,200 £63,157 £313,043

Instructions

a. Assuming the lessee’s accounting period ends on September 30, answer the following
questings with respect to this lease agreement.
1. What items and amounts will appear on the lessee’s income statement for the year
ending September 30, 2020?
2. What items and amounts will appear on the lessee’s statement of financial position
at September 30, 2020?
3. What items and amounts will appear on the lessee’s income statement for the year
ending September 30, 2021?
4. What items and amounts will appear on the lessee’s statement of financial position
at September 30, 2021?
 b. Assuming the lessee’s accounting period ends on December 31 answer the following
questions with respect to this lease agreement.
1. What items and amounts will appear on the lessee’s income statement for the year
ending December 31, 2019?
2. What items and amounts will appear on the lessee’s statement of financial position
at December 31, 2019?
3. What items and amounts will appear on the lessee’s income statement for the year
ending December 31, 2020?
4. What items and amounts will appear on the lessee’s statement of financial position
at December 31, 2020?
Solution

a.
1. Mckee Electronics Income Statement For the Year Ended September 30,
2020
Interest expense (See amortization schedule) £ 20,027
Depreciation expense (£313,043 ÷ 6) £ 52,174
2. Mckee Electronics Statement of Financial Position at September 30, 2020
Non-current assets:
Right-of-use assets (£313,043 - £52,174) £260,869
Current liabilities:
Lease liability £ 62,700
Non-current liabilities:
Lease liability(£250,343 + £20,027 - £62,700) £207,670
3. Mckee Electronics Income Statement For the Year Ended September 30,
2021
Interest expense (See amortization schedule) £ 16,614
Depreciation expense (£313,043 ÷ 6) £ 52,174
4. Mckee Electronics Statement of Financial Position at September 30, 2021
Non-current assets:
Right-of-Use assets £208,695
Current liabilities:
Lease liability (£42,673 + £20,027) £ 62,700
Non-current liabilities:
Lease liability £161,584
b.
1. Mckee Electronics Income Statement For the Year Ended December 31, 2019
3
Interest expense (£ 20,027 × 12) £ 5,007
3
Depreciation expense (£313,043 ÷ 6 = £52,174 × 12) £ 13,044

2. Mckee Electronics Statement of Financial Position at December 31, 2019

Non-current assets:
Right-of-use assets (£313,043 - £13,044) £299,999
Current liabilities:
Lease liability (£42,673 + £5,007) £ 47,680
Non-current liabilities:
Lease liability (£250,343 + £5,007 - £47,680) £207,670
3. Mckee Electronics Income Statement For the Year Ended At December 31,
2020
Interest expense £ 19,174
3
[(£20,027 - £5,007) + (£16,614 × 12) =

(£15,020 + £4,154 = £19,174)

Depreciation expense (£313,043 ÷ 6) £ 52,174
4. Mckee Electronics Statement of Financial Position at December 31, 2020
Current liabilities:
Lease liability £ 50,240
3
(£42,673 + £16,614 × 12) =

(£42,673+ £4,154= £50,240)

Non-current liabilities:
Lease liability (£207,670 + £4,154 - £50,240) £161,584
Property, plant, and equipment:
Right-of-use assets (£313,043 - £13,044 - £52,174) £247,825