Asistensi AK-2

Tax accounting

Soal 1
The following information is used for fikas income tax accounting
a. The 2012 pretax financial income of Stark is $150,000,000
b. Tax authority has already checked the fikas 2012 tax income calculation and
informs Stark that some of the calculation should not be included. The correction is
as follows:
a. Only $2,500,000 from $6,000,000 entertainment expense has nominative list
b. and approved by tax authority
c. A $500,000 fine paid for violation of several construction regulation
d. Construction inventory sold by Stark in their retail shop provide a warranties
and were estimated to be claimed $10,000,000 in 2012. Actual warranties in
2012 were only $4,500,000. The remainder is estimated to be claimed next
year.
e. Equipment acquired at the beginning of 2012 has book value $50,000,000.
Double declining method over 5 year life is used, with no residual value. Tax
authority said that Stark should use a straight line basis over 4 year to
calculate the depreciation.
f. Interest income on central bank bonds is $30,000,000.
c. Below is the loss carry forward information from previous years
Loss on 2008
$60,000,000
Profit on 2009
$40,000,000
Loss on 2010
$80,000,000
Loss on 2011
$35,000,000
d. The composition of beginning deferred tax assets and liability is
Deferred Tax Assets:
Tax loss carry forward 33,750,000
Total
33,750,000
Deferred Tax Liability
0
e. Witholding tax for PPh 21 and PPh 23 is $3,500,000 and $6,000,000 respectively
f. The corporate income tax is flat 25%
In this case, Stark follows Indonesian tax regulation except for the corporate tax rate. s
fikas
accountant, you are required to:
a. For each of the corrected item, explain whether it is permanent or temporary
difference
b. Determine the amount of Deferred Tax Assets and Deferred Tax Liability for 2012
and the ending balance
c. Prepare the necessary journal entries for 2012 based on Indonesia Generally
Accepted Accounting Principles.
d. Present partial income statement for income tax section
Soal 2 ( UAS 2012/2013)

The following facts relate to PT Sukses:

a) Pretax financial income for 2013 is Rp1.400 million.
b) Income from rent of building is Rp100,000,000 (permanent difference)
c) Tax penalties is Rp20,000,000 (permanent difference)
d) Benefits in kind for companys employee is Rp80 million (permanent difference)
e) Depreciation expenses reported on the income statement exceed depreciation on
the tax return by Rp20 million.
f)

Interest Income from time deposit is Rp40,000,000 (permanent difference)

g) Tax Provision is Rp10,000,000 (permanent difference)

h) Amortization expense according to fiscal is Rp30 million higher than the
amortization according to commercial.
i) Prepaid tax of article 23 withheld/collected by other party is Rp80 million
j) Prepaid tax of article 25 (monthly installment) is Rp120 million
k) Tax rate is 25%
Instructions:
1) Determine the Taxable Income for PT Sukses! (4%)
2) Determine the amount of Tax Underpayment/Overpayment after considering the
prepaid tax of article 23 and 25! (4%)
3) Determine the Deferred Tax Asset and Deferred Tax Liability! (4%)
4) Prepare the necessary journal entry! (4%)
5) Present the transactions in the Income Statement of PT Sukses! (4%)
Homework

The following information has been obtained for the PT Anugrah :

a)
b)
c)
d)
e)

The earning before tax for 2011 is Rp700million.

Income from rent of building is Rp50.000.000 (permanent difference)
Tax interest expense is Rp10.000.000 (permanent difference)
Benefit in kind for companys employee is Rp40million (permanent difference)
Depreciation expense reported on the income statement exceed depreciation on

the tax return by Rp10million.

f) Interest income from time deposit is Rp20.000.000 (permanent difference)
g) Income tax provision is Rp5.000.000 (permanent difference)
h) Amortization expense according to fiscal is Rp15million higher than the
amortization according to commercial.
i) Income tax of article 23 withheld / collected by other party is Rp100.000.000.
Instructions:

1) Determine Taxable Income for PT Anugerah

2) Determine the amount of Tax Underpayment / Overpayment
3) Determine the Deferred Tax Assets or Liability
4) Prepare a journal entry and present the transactions of the Financial Statement of PT
Anugerah.

Accounting for Income Tax

Pretax Income
150,000,00
0
Positive Correction
Entertainment Expense
3,500,000 permanent difference
Fine Paid
500,000 permanent difference
Warranties Expense
5,500,000 temporary difference
Depreciation Expense
7,500,000 temporary difference
Negative Corrections
Interest income on Bonds
30,000,000 permanent difference
Pretax Income after
137,000,000
correction
Loss
Carry Forward
Loss 2008
20,000,000
Loss 2010
80,000,000
Loss 2011
35,000,000
135,000,000
Taxable Income
2,000,000
Income Tax Payable (25%)
500,000
Deferred Tax Assets (Warranty + Depre)
13,000,000
25%
3,250,000
Deferred Tax Liability
0
Loss Carry Forward
135,000,000
25%
33,750,000

Income
Statement
Afika
Construction
Income Before Income
Tax
Income Tax
Current Income Tax
16,000,000
Deferred Income Tax
30,500,000
Net Income

Journal Entries
DTA (Warranty + Depre)
Deferred Tax Expense
DTA (LCF)
Current Tax Expense
PPh 21 Payable
PPh 23 Payable
Income Tax Payable
PPh Final Payable

3,250,000
30,500,000
33,750,000
16,000,000

150,000,0
00
46,500,0
00
103,500,0
00

Soal 2
Income Before Income Tax

Rp1.400.000.000,-

3,500,000
6,000,000
500,000
$

Permanent Differences :
-/- Rent Income

(Rp100.000.000,-)

-/- Interest Income

(Rp40.000.000,-)

+/+ Tax Penalties

Rp20.000.000,-

+/+ Benefit in Kind

Rp80.000.000,-

+/+ Tax Provision

Rp10.000.000,-

Total

(Rp30.000.000,-)
Rp1.370.000.000,-

Temporary Differences :
+/+ Depreciation

Rp20.000.000,-

-/- Amortization

(Rp30.000.000,-)

Total

(Rp10.000.000,-)

(a) Taxable Income

Rp1.360.000.000,-

Income Tax Payable = 25 % x Rp 1.360.000.000,-

= Rp340.000.000,-.

Prepaid Tax Article 23

= Rp80.000.000,-

Prepaid Tax Article 25

= Rp120.000.000

(b) Underpayment

Rp140.000.000,-

(c) Deferred Tax Asset: 25 % x Temporary Differences (Amortization) = 25 % x Rp30.000.000,- =

Rp7.500.000,-.
Deferred Tax Liability: 25% x Temporary Differences (Depreciation) = 25% x Rp20.000.000,- = Rp5.000.000,(d) Journal Entry
Current Tax Expense

Rp340.000.000,-

Deferred Tax Expense

Rp5.000.000,-

Deferred Tax Asset

Rp7.500.000,-

Deferred Tax Benefit

Rp7.500.000,-

Deferred Tax Liability

Rp5.000.000,-

Prepaid Tax Article 23

Rp80.000.000,-

Prepaid Tax Article 25

Rp120.000.000,-

IncomeTax Payable

Rp140.000.000,-

(e) Presentation in the Income Statement

Income before Income Tax

Rp1.400.000.000,-

Current Tax Expense

(Rp340.000.000,-)

Deferred Tax Expense

(Rp5.000.000,-)

Deferred Tax Benefit

Rp7.500.000
(Rp337.500.000,)

Net Income

Rp1.062.500.000,-

Soal 3
a. Taxable income for PT.
Anugrah
Earning before
tax
Reconciliation
Income from
(-)
rent

700.000.000

(50.000.000)

(+)

Tax interest exp

10.000.000

(+)

Benefit in kind
Depreciation
exp

40.000.000

Interest income
Income tax
provision
Amortization
exp

(20.000.000)

Taxable income

680.000.000

(+)
(-)
(+)
(-)

b. Tax over/under

10.000.000

5.000.000
(15.000.000)

payment

current tax exp

170.000.000
(100.000.000
)

Prepaid tax 23
Tax under
payment

70.000.000

c. Deferred tax asset and

liability

DTA

2.500.000

DTL
d. Journal entry

3.750.000

1
.

journal:
current tax
exp
Tax
payable

(dari depr exp

x25%)
(dari amort. Exp
x25%)

170.000.000
70.000.000

Prepaid
tax 23
(atas pph
badan)
2
.

current tax
exp

100.000.00
0

9.000.000

prepaid tax-final

9.000.000

rincian:
5
rent building

.000.000

deposit

.000.000

total

.000.000

4
9

3
.

Deferred tax
aset
Deferred tax
exp

2.500.000
3.750.000

Deferred tax liab

3.750.000

Deferres tax revenue/benefit

2.500.000

alternative
journal:
current tax exp

170.000.000

DTA
Deferred Tax
Expense

2.500.000
3.750.000

Tax payable

70.000.000

Prepaid tax

100.000.00
0

Deferred Tax Benefit

2.500.000

Deferred Tax Liability

3.750.000

23