Multiple Question

1. PT Germes Indonesia uses the FIFO recording method with the periodic inventory method. Beginning Inventory = 8 Units x 12 unit cost = $ 96. There are 2 purchases, namely the first purchase = 15 units x $ 14 unit cost = $ 210 and the second purchase = 23 units x $ 15 unit cost = $ 345. Sales for a year as many as 18 units. The value of the ending inventory balance at the end of the period is

a. $ 336

b. $ 415

c. $ 651

d. $ 236

2. As of December 31, 2018, PT Sensi chartered a vessel from PT Kapalindo for the eight-year period ending December 30, 2026. The same annual payment of CU500,000 is due on December 31 each year, starting with December 31, 2018. Charter is classified appropriately as the payment lease in PT Sensi's book. The present value as of December 31, 2018, of the eight lease payments over the lease term at a discount of 10% is CU2,934,213. Assuming all payments are made on time, the amount that must be reported by PT Sensi as the total liability for the finance lease in the statement of financial position on December 31, 2019, is:

a. CU3,000,000

b. CU 2,727,635

c. CU 2,500,397

d. CU2,177,634

3. PT Sensi leased equipment from PT Menara for the same four years amounting to CU344,152. with the first payment due at the beginning of the lease. The lease does not transfer ownership, nor is there a purchase price option. The equipment has a useful life of 4 years and there is no residual value. PT Sensi's incremental loan interest rate is 10% and the implicit interest rate for renters (which is known to PT Sensi) is 8%. PT Sensi uses the straight-line method for depreciation of similar assets. How much depreciation expense was recorded by PT Sensi in the first year of the asset's life? (Advance annuity PV for 8% 4 periods = 3.57710 and for 10% 4 periods = 3.48685)

a. CU284,968

b. CU300,000

c. CU307,767

d. CU 0 because the assets are depreciated by PT Sensi

4. The characteristics that distinguish goodwill from other intangible assets are:

a. Can be identified

b. Its nature as a monetary asset

c. Has a physical embodiment

d. Can be separated from the entity and sold individually

5. Which of the following is true? a. The periodic inventory method of accounting will always result in a lower ending balance than the perpetual method. b. The periodic method of accounting for inventory (periodic method) will always result in a higher ending balance than the perpetual method. c. The relationship between ending inventory balances using the periodic method (periodic method) and the perpetual method (perpetual method) will depend on whether the FIFO method or weighted average method is used to value inventories. d. The closing inventory is always the same according to the periodic method (periodic method) and the perpetual (perpetual method)