The following is PT Mystic's comparative financial position statement for 2020 and 2019: The following is additional
Question:
The following is PT Mystic's comparative financial position statement for 2020 and 2019:
The following is additional information obtained from transactions during 2020:
1. PT. Mystic declares and distributes cash dividends.
2. Buildings, equipment and land purchased in cash
3. A building with an acquisition cost of Rp100,000,000 and has been depreciated by Rp45,000,000 is sold for Rp60,000,000.
4. Equipment with an acquisition cost of Rp90,000,000, has a book value of Rp69,000,000 and a loss of Rp6,000,000.
5. PT. Mystic issues and sells bonds at a book value of Rp100,000,000.
6. Sales in 2020 amounted to Rp. 500,000,000 with cost of goods sold of 35% of sales. Operating expenses in the year amounted to Rp135,000,000 and interest expenses of Rp15,000,000. The total other loss from the gain/loss on the sale of assets is Rp1,000,000,000, resulting in a net profit before tax of Rp174,000,000. It is known that the current tax rate was 20%. ( information number 6 is Net Income, just Rp. 208.800.000,-)
7. Common stock is issued to buy long-term investment and the rest receive cash.
Requested:
- Prepare a cash flow statement using the indirect method for 2020.
- Calculate the ratios for the year below using the comparative financial position report data in question 3.
a. working capital
b. Current ratio
c. Quick ratio
d. Ratio of fixed assets to long-term liabilities
e. Ratio of liabilities to stockholders' equity
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy