On March 1, 2019, PT Maju purchased a cash supply of 500 boxes of fresh detergent soap
Question:
On March 1, 2019, PT Maju purchased a cash supply of 500 boxes of fresh detergent soap merchandise @ 24 packs with a total purchase value of IDR 108,000,000. On April 1, 2019, all of the Fresh detergent merchandise inventory was sold in cash to PT Jaya at a price of IDR 144,000,000. As of December 31, 2019, 400 boxes were sold in cash. The sales value of Fresh detergent per box by PT Jaya is IDR 360,000.
On April 5, 2019, PT Maju purchased 500 dozen Green Coffee coffees at a price of IDR 54,000 per dozen from PT Jaya in cash. PT Jaya itself bought the Green Coffee coffee in cash at a price of IDR48,000 per dozen on March 31, 2019. During 2019, PT Maju sold 400 dozen Green Coffee coffees at a price of IDR 66,000 per dozen in cash. So, as of December 31, 2019, PT Maju has 100 dozen Green Coffee coffees. During 2019, PT Jaya announced a net profit of Rp1,200,000,000 and a cash dividend totalingRp300,000,000. PT Maju itself distributed cash dividends of IDR 500,000,000 during 2019.It is assumed that both PT Jaya and PT Maju use the perpetual inventory recording method.
Question:
a). Make a journal related to the sale and purchase of Fresh detergent soap and Green Coffee coffee from PT Maju and PT Jaya during 2019.
b). Calculation consolidated elimination journal. Make an Inventory consolidation calculation if necessary, to make calculations easier.
c). Prepare a consolidated working paper.
d). Prepare a consolidated profit and loss statement, a consolidated statement of retained earnings, and a consolidated statement of financial position for the period ended 31 December 2019.
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield