ossible “debt to equity swap” scheme carried out by the client!
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
Related questions
Question
100%
The following is attached to the company's financial statements, pay attention to the noncurrent liabilities and shareholders’ equity sections.
Questions:
a. Based on the financial statements above, explain possible “debt to equity swap” scheme carried out by the client!
b. What evidence do you need to collect to ensure that the client's debt to equity swap is free from material misstatement?
![Catatan/
Notes
2010
2009
LIABILITIES AND
SHAREHOLDERS' EQUITY
KEWAJIBAN DAN EKUITAS
KEWAJIBAN LANCAR
CURRENT LIABILITIES
Short-term bank loans
Trade payables - Third parties
Taxes payable
Other payables
Accrued expenses
Advance on sales
63.218.778.659 2b,h,m,q,10,24
16.049.325.984 2b,1,m,q,11,24
3.289.221.216
Pinjaman bank jangka pendek
Hutang usaha - Pihak ketiga
Hutang pajak
Hutang lain-lain
Biaya masih harus dibayar
Uang muka penjualan
Bagian kewajiban jangka panjang
yang jatuh tempo dalam waktu
satu tahun
59.461.174.390
11.810.234.601
76.862.642
44.048.187
1.259.063.830
2n,20b
1.322.870.535
896.800.000
12
2b,4
153.161.300 2b,h,m,q,13,24
Current maturities of long-term
debts
9.120.148.381
Jumlah Kewajiban Lancar
84.930.157.694
81.771.532.031
Total Current Liabilities
KEWAJIBAN TIDAK LANCAR
Kewajiban jangka panjang - setelah
dikurangi bagian yang jatuh
tempo dalam waktu satu tahun
Kewajiban pajak tangguhan - Bersih
Kewajiban diestimasi imbalan
pasca-kerja
NON-CURRENT LIABILITIES
Long-term debts - net of
current maturities
Deferred tax liabilities - Net
Estimated liabllities for
post-employment benefits
128.338.374 2b,h,m,q,13,24
18.457.040.328
45.066.961.090
18.329.375.900
2n,20d
1.975.245.056
21,22
1.588.160.200
Jumlah Kewajiban Tidak Lancar
20.560.623.758
64.984.497.190
Total Non-Current Liabilities
Jumlah Kewajiban
105.490.781.452
146.756.029.221
Total Liabilities
EKUITAS
Modal saham - nilai nominal
Rp 100 per saham
Modal dasar - 4.000.000.000
saham
Modal ditempatkan dan disetor
penuh - 1.500.000.000 saham
(2009: 1.300.000.000 saham)
Tambahan modal disetor - Bersih
Saldo laba
SHAREHOLDERS' EQUITY
Share capital - par value Rp 100
per share
Authorized - 4,000,000,000
shares
Issued and fully paid -
1,500,000,000 shares
(2009: 1,300,000,000 shares)
Additional pald-In capital - Net
Retained earnings
150.000.000.000
33.542.841.148
130.000.000.000
4.367.923.968
21.257.157.437
14
2k, 15
45.916.926.397
Jumlah Ekuitas
229.459.767.545
155.625.081.405
Total Shareholders' Equity
JUMLAH KEWAJIBAN DAN
TOTAL LIABILITIES AND
EKUITAS
334.950.548.997
302.381.110.626
SHAREHOLDERS' EQUITY](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feca6b017-8690-4a67-9797-8060dd5c8edc%2F5957ff0b-fbf4-4d0b-a623-c3520b69b1eb%2Flkv7u2i_processed.png&w=3840&q=75)
Transcribed Image Text:Catatan/
Notes
2010
2009
LIABILITIES AND
SHAREHOLDERS' EQUITY
KEWAJIBAN DAN EKUITAS
KEWAJIBAN LANCAR
CURRENT LIABILITIES
Short-term bank loans
Trade payables - Third parties
Taxes payable
Other payables
Accrued expenses
Advance on sales
63.218.778.659 2b,h,m,q,10,24
16.049.325.984 2b,1,m,q,11,24
3.289.221.216
Pinjaman bank jangka pendek
Hutang usaha - Pihak ketiga
Hutang pajak
Hutang lain-lain
Biaya masih harus dibayar
Uang muka penjualan
Bagian kewajiban jangka panjang
yang jatuh tempo dalam waktu
satu tahun
59.461.174.390
11.810.234.601
76.862.642
44.048.187
1.259.063.830
2n,20b
1.322.870.535
896.800.000
12
2b,4
153.161.300 2b,h,m,q,13,24
Current maturities of long-term
debts
9.120.148.381
Jumlah Kewajiban Lancar
84.930.157.694
81.771.532.031
Total Current Liabilities
KEWAJIBAN TIDAK LANCAR
Kewajiban jangka panjang - setelah
dikurangi bagian yang jatuh
tempo dalam waktu satu tahun
Kewajiban pajak tangguhan - Bersih
Kewajiban diestimasi imbalan
pasca-kerja
NON-CURRENT LIABILITIES
Long-term debts - net of
current maturities
Deferred tax liabilities - Net
Estimated liabllities for
post-employment benefits
128.338.374 2b,h,m,q,13,24
18.457.040.328
45.066.961.090
18.329.375.900
2n,20d
1.975.245.056
21,22
1.588.160.200
Jumlah Kewajiban Tidak Lancar
20.560.623.758
64.984.497.190
Total Non-Current Liabilities
Jumlah Kewajiban
105.490.781.452
146.756.029.221
Total Liabilities
EKUITAS
Modal saham - nilai nominal
Rp 100 per saham
Modal dasar - 4.000.000.000
saham
Modal ditempatkan dan disetor
penuh - 1.500.000.000 saham
(2009: 1.300.000.000 saham)
Tambahan modal disetor - Bersih
Saldo laba
SHAREHOLDERS' EQUITY
Share capital - par value Rp 100
per share
Authorized - 4,000,000,000
shares
Issued and fully paid -
1,500,000,000 shares
(2009: 1,300,000,000 shares)
Additional pald-In capital - Net
Retained earnings
150.000.000.000
33.542.841.148
130.000.000.000
4.367.923.968
21.257.157.437
14
2k, 15
45.916.926.397
Jumlah Ekuitas
229.459.767.545
155.625.081.405
Total Shareholders' Equity
JUMLAH KEWAJIBAN DAN
TOTAL LIABILITIES AND
EKUITAS
334.950.548.997
302.381.110.626
SHAREHOLDERS' EQUITY
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