Soal bab 17

1. Papa jahat co. purchased a put option on ewing ordinary shares on 7 july
2014 for 250. The put option is for 150 shares, and the strike price is 140.
(the market price of an ordinary share of ewing on that date is 50). The
option exprires on 31 january 2015. The following data are avalaibel with
respect to the put option.
Date

market price of ewing shares

30/09/2014 72 per share

31/12/2014 71 per share
31/1/2015 70 per share

time value of put option

120
20
0

Instructions
prepare the journal entries for papa jahat co. for the following dates
a. 7/7/2014 investment in put option on ewing shares
b. 30/09/2014 papa jahat prepare financial statement
c. 31/12/2014 papa jahat prepare financial statement
d. 31/1/2015 put option expires
2. On 1 january 2014 papa jahat co. purchased 35% of the ordinary share of
pirates company for 500.000 during year, pirates earned net income of
50.000 and paid dividends of 25.000.
Instructions
prepare the entries for Meredith to record the purchase and any additional
entries related to this investment in papa jaat co. in 2014
Soal bab 18
1. Papa jahat co. has entered into a contract beginning 1 january 2011 to build
parking complex, it has been estimated that the complex will cost 800.000
and will take 3 years to construct. The complex will be billed to the
purchasing co. at 1.000.000 . the following data pertain to the construction
period.
2011

2012

2013

cost to date
250.000
350.000
400.000
estimated costs to complete
220.000
120.000
0
progress billings to date 280.000
660.000
990.000
cash collected to date
250.000
400.000
900.000

instructions
a. Usling the percentage of completion method , compute the
estimated gross profit that would be recognized during each year
the construction period.
b. Using the cost recovery method, compute the estimated gross
profit that would be recognized during each year of the construction
period.
2. On 31 december 2013 papa jahat co. sells a television to a customer. The
customer also buys a 3 year warranty from papa jahat. Papa jahat normally
sells television and warranty separately for 5.000 and 800 respectively.
However,as part of a year and promotion, it sells the television and warranty
separately at the reduced price of 2.500. the customer pays in full at
processes it and repairs or replaces the television. Its experience with that
type of television suggests a 5% likelihood that a claim will be filed during the
first year of warranty coverage , and 5-10% likelihood in the second and third
years, respectively.
Intructions
a. determine how the transaction price should be allocated between the sale
of the television and warranty
b. prepare the journal entry to record this transactions on 31 decembe 2011
c. indicate the amount of revenue that should be recorded in 2012 and 2013
Soal bab 21
1. Papa jahat co. a machinery dealer , leased a machine to mama jahat co. on 1
january 2014 . the lease is for an 8 year period and requires equal annual
payments of 50.000.000 at the beginning of each year. The first payment is
received on 1 january 2014 . papa jahat had purchased the machine during
2013 for 200.000.000 . papa jahat set the annual rental to ensure an 11%
rate of return . the machine has an economic life of 8 years with no residual
value and reverts to wadkins at the termination of the lease.
Instructions
a. compute the amount of the lease receivable
b. prepare all necessary journal entries for wadkins for 2014
2. On 1 january 2014 papa jahat sold a truck to mama jahat for 30.326 and
immediately leased it back. The truck was carried on papa jahat book at
25.000 the term of the lease is 5 years and title transfers to papa jahat at
leased end . the lease requires five equal rental payments of 8.000 at the end
of each year. The appropriate rate of interest is 10%and the truck has a
useful life of 5 years with no residual value .

Instructions
prepare papa jahat 2014 journal entries