advanced accountingbandi.feb.uns.ac.id/wp-content/uploads/2016/09/17...rupa "revised uniform...

ADVANCED ACCOUNTING(Floyd A. Beams, Robin P. Clement, Joseph H. Anthony, and

Suzanne Lowensohn)

byJeanne M. David, Ph.D., Univ. of Detroit

MercyBANDI, DR., SE., M.Si., Ak., CA

09/10/2016 bandi.staff.fe.uns.ac.id 1

PERSEKUTUAN – LIKUIDASI

Chapter 17


Partnerships: Objectives

1. Memahami karakteristik hukum persekutuan/kemitraan (partnerships)

2. Memahami penilaian dan pencatataninvestasi awal.3. Memahami sifat beragam keuntungan dan kerugian

berbagi perjanjian dan perhitungannya.4. Nilai investasi sekutu baru dalam persekutuan yang

sudah ada.5. Nilai hak sekutu atas pensiun atau kematian.6. Memahami karakteristik kemitraan Perseroan

terbatas.


1: KARAKTERISTIK DARI PERSEKUTUANPartnerships – Formation, Operations, and Changes in Ownership Interests


Partnerships

RUPA "Revised Uniform Partnership Act"– Teori Entitas:

• Sekutu memiliki bagian mereka dari Persekutuan , tetapitidak aset individu

– Disosiasi:• Sekutu dapat memisahkan diritanpa pembubaran

persekutuan

Sekutu memiliki– Hak saling menjadi agen perusahaan (Mutual agency)– Kewajiban tak terbatas


Kesepakatan (Articles) Persekutuan

1. Produk atau layanan, lini bisnis2. Hak Sekutu & tanggung jawab3. Investasi awal dan nilai yang diberikan untuk

investasi nonkas4. Kondisi tambahan investasi5. Penarikan Aset6. Pembagian laba dan rugi7. Prosedur Pembubaran


Pelaporan Persekutuan

• Pelaporan keuangan harus menyediakankebutuhan dari:– Mitra– Kreditor Persekutuan– IRS


2: INVESTASI AWALPartnerships – Formation, Operations, and Changes in Ownership Interests


Investasi awal

Persekutuan dimulai oleh Amy dan Paulus, masing-masing berinvestasiuang tunai.

Jika mereka menginvestasikan aset lainnya, nilai aset tersebut harusdisepakati sebelumnya.

Kas XXX -Modal Amy - XXX

Kas XXX -Modal Paul - XXX

Kas XXX -Peralatan XXX -Tanah XXX -

Modal Paul - XXX09/10/2016 bandi.staff.fe.uns.ac.id 9

Investasi awal dengan Bonus atauGoodwill

Investasi awal mitra, pada nilai wajar, tidak akanmewakili kepemilikan mereka.– Bakat individual– Koneksi bisnis– Basis pelanggan

Sekutu memilih metode– Metode bonus

• Penyesuaian dalam akun modal– Metode Goodwill

• Goodwill dicatatkan pada buku-buku besarnya


Investasi awal dengan Bonus

• Total nilai wajar yang diterima dipecah, sebagai yang diinginkan,antara mitra

• Cola berinvestasi tanah dan bangunan senilai $10 dan $40.• Crown berinvestasi uang tunai dan persediaan pada $7 dan $35.• Setuju untuk memiliki bagian yang sama:

(10 + 40 + 7 + 35) / 2 = $46 masing-masing

Kas 7 -Persediaan 35 -Tanah 10 -Bangunan 40 -

Modal Cola - 46Modal Crown - 46


Investasi awal dengan Goodwill

Cola's 50%(100) $50He invests:Land $10Building $40 $50

Crown's 50%(100) $50He invests:

Cash $7Inventory $35 $42

Goodwill $8

If Cola and Crown agree to equal shares, uselarger implied total value of firm.

Cola's: (10 + 40) / 50% = $100Crown's: (7 + 35) / 50% = $84

Implied value of firm $100


Jurnal awal dengan Goodwill

Land 10 -Building 40 -

Modal Cola - 50To record Cola's investment

Cash 7 -Inventory 35 -Goodwill 8 -

Modal Crown - 50To record Crown's investment and goodwill


Akun Sekutu

Setiap sekutu memiliki rekening mereka sendiriuntuk:– Modal– Prive/ Drawings (periodik, seperti gaji, jumlah)– Penarikan (lain-lain, jumlah yang besar, yang tidak biasa)

• Investasi meningkatkan Modal• Prive dan penarikan ditutup ke akun modal• Laba rugi atau Pendapatan dan biaya ditutup

ke akunt modal.09/10/2016 bandi.staff.fe.uns.ac.id 14

Contoh Jurnal penutupan pada modalSekutu

Modal Amy XXX -Amy Drawings - XXAmy Withdrawals - XXReduces Amy's capital for drawings and withdrawals

Modal Paul XXX -Paul Drawings - XXX

Income Summary ProfitModal Amy - XXXModal Paul - XXXTo share profits between Amy and Paul

Prive danpenarikanditutup keakun modalindividual.

Pendapatan dibagi antara sekutu. Kerugian akan menyebabkan masukberkebalikkan dengan modal. Mungkin bagi beberapa sekutu memilikikerugian sementara (defisit) yang lain memiliki keuntungan (saldo plus).


Laporan Modal Sekutu

Beginning capital + investments – drawings and/or withdrawals+ income or – loss = ending capital


3: BERBAGI KEUNTUNGAN DANKERUGIAN

Partnerships – Formation, Operations, and Changes in Ownership Interests


Perjanjian pembagian Laba / rugi

• Kesepakatan (article) Persekutuan harusdengan jelas menyatakan caramendistribusikan keuntungan dan kerugian.

• Hal penting yang biasanya dipertimbangkan– Bonus allowance– Salary allowance– Interest allowance on capital invested

• Berdasarkan rata-rata, saldo modal awal atau akhir

– Pembagian jumlah sisa


Tunjangan Bonus dan Gaji

• Bonus tunjangan (allowances) sering didasarkanpada keuntungan persekutuan dan mungkinsebelum atau setelah:

(a) tunjangan gaji dan (b) bonus.• Jika bonus setelah keduanya:

Bonus = b% x (NI – Salary Allow – Bonus)

• Tunjangan Gaji umumnya ditentukan sebelumnya(pre-determined amounts)


Tunjangan Kepentingan dan modal

• Tunjangan kepentingan biasanya didasarkan padaukuran modal sekutu:– Saldo modal awal tahun– Rata-rata* saldo modal untuk tahun ybs

Saldo rata-rata tertimbang

– Saldo modal Akhir*Saldo awal – penarikan + investasi

* Pengambilan periodik sering diabaikan, Meskipunpenarikan (withdrawals) sering dipertimbangkan


Mengalokasikan pendapatan

• Tunjangan Sekutu untuk bonus, gaji dan kepentingandialokasikan kepada mereka, Apakah ada atau tidakada keuntungan yang cukup.

• Sisa keuntungan (atau defisit) kemudian dibagimenurut proporsi disepakati.

• Ini adalah prosedur umum. Kesepakatan persekutuanmemberikan persyaratan tertentu.


Contoh: Berbagi keuntunganTom dan Betty setuju untuk membagikan keuntungan dan

kerugian:• Tom dan Betty memiliki masing-masing $60 dan $30

tunjangan gaji• Betty memiliki bonus 50% keuntungan jika lebih dari $500• Masing-masing memiliki tunjangan kepentingan sebesar 10%

dari modal awal– Modal Tom, 1/1 $400– Modal Betty, 1/1 $350

• Sisa keuntungan atau kerugian dibagi Tom 60%, Betty 40%.Keuntungan persekutuan adalah $660 setahun.


Berbagi keuntungan sebesar $660

Bonus = 50%(660 - 500) = 80Kepentingan Tom = 10%(400) = 40Kepentingan Betty = 10%(350) = 3560%(415) = 249; 40%(415) = 166

Total Tom BettyNet income $660Salary allowance (90) $60 $30Bonus allowance (80) 0 80Interest allowance (75) 40 35Subtotal $415Split 60:40 (415) 249 166Allocated net income $0 $349 $311


Berbagi keuntungan sebesar $180Asumkan bahwa pendapatan adalah hanya $180.

Bonus = nol, pendapatan tidak melebihi ambang batas (threshold)Kepentingan Tom = 10%(400) = 40Kepentingan Betty = 10%(350) = 3560%(-45) = -27; 40%(-45) = -18

Total Tom BettyNet income $120Salary allowance (90) $60 $30Bonus allowance 0 0 0Interest allowance (75) 40 35Subtotal, deficit ($45)Split 60:40 45 (27) (18)Allocated net income $0 $73 $47


4: MASUKNYA SEKUTU BARUPartnerships – Formation, Operations, and Changes in Ownership Interests


Masuknya Sekutu Baru

1. Sekutu yang sekarang menetapkan kepentingankepada sekutu baru.

2. Sekutu baru membeli kepentingan dari sekutuyang ada.

• Metode Goodwill• Metode Bonus

3. Sekutu baru berinvestasi langsung ke dalampersekutuan.

• Metode Goodwill• Metode Bonus


Assignment

• Assignment memberikan assignee hak untukuntuk suatu bagian dari laba mendatang danbagian aset jika likuidasi– Bukan sekutu– Tidak ada bagian dalam manajemen

Modal sekutu lama XXXModal Assignee XXX


Membeli dari Sekutu: sederhana

• Alfano dan Bailey memiliki saldo modal masing-masing $50 danmasing-masing memiliki kepentingan dalam perusahaan 50%.

• Cobb membeli setengah kepentingan Alfano untuk $25.

Before AfterCapital Share Capital Share

Alfano $50 50% $25 25%Bailey 50 50% 50 50%Cobb 25 25%Total $100 $100

Modal Alfano 25Modal Cobb 25


Membeli dari Sekutu : Goodwill

• Don dan Ed memiliki modal $50 dan $40, dengan masing-masing kepentingan 50%.

• Fay akan membayar $60 langsung ke para sekutu danmenerima 50% kepentingan di perusahaan. Don dan Edmasing-masing memiliki 25%. Aset dengan nilai wajar.

• Goodwill meningkatkan modal Don & Ed masing-masingsebesar $15.

Nilai perusahaan Tersirat, $60/.50 120Modal lama, $50 + 40 90Goodwill 30


Goodwill merevaluasi modal

• Anggaplah, Fay membayar $35 pada Don dan $25 padaEd.

• Jika para sekutu tidak ingin menyetel kembali modalnya,modal Don dan Ed masing-masing akan berkurang dengan$30 untuk mentransfer $60 kepada Fay.

Before RevaluationAfter

revaluation Transfer Final

Don $50 $15 $65 ($35) $30

Ed 40 15 55 (25) 30

Fay 60 60

Total $90 $120 $120


Membeli dari Sekutu: Bonus• Jika Don dan Ed telah memutuskan untuk tidak

revaluasi aset atau mencatat goodwill, berarti metodebonus digunakan.

• Modal Fay adalah 50%(90) = $45.• Akun modal Don dan Ed disesuaikan 25%(90) saldo

baru mereka = $22,5

Before Transfer FinalDon $50 ($27.5) $22.5Ed 40 (17.5) 22.5Fay 45.0 45.0Total $90 $90.0


Jurnal untuk pembelian dari sekutu• Entri untuk penerimaan Fay, di bawah metode goodwill dan

bonus:

Goodwill 30Modal Don 15Modal Ed 15

Modal Don 35Modal Ed 25

Modal Fay 60Metode Goodwill, menyelaraskan modal

Don Capital 27.5Ed Capital 17.5

Fay Capital 45Bonus method, aligning capital accounts


Investasi ke dalam perusahaan:Goodwill

• Andrew dan Boyles memiliki saldo modal $40 dan $40 danberbagi sama dalam (laba) perusahaan.

• Criner akan diterima dengan investasi uang tunai $50. Ketiganyaakan memiliki bagian yang sama. Aset neto adalah dengan nilaiwajar; Goodwill akan digunakan untuk pencatatan.Implied value of firm, $50/(1/3) $150

Old capital, $40 + 40 $80

Additional investment 50 130

Goodwill $20

Criner: $130*1/3 = $43.3, but he pays $50 … so goodwill goes to oldpartners.Implied firm value is based on Criner's investment.


Investasi dan goodwill menambahmodal (Goodwill untuk Sekutu lama)

• Modal $ 80 pada awal, meningkat dengan $20goodwill dan investasi kas $50.

BeforeRevalu-ation

After re-valuation Investment Final

Andrew $40 $10 $50 $50Boyles 40 10 50 50Criner $50 50Total $80 $100 $150


Investasi ke perusahaan: Goodwill• Andrew dan Boyles memiliki saldo modal $40 dan $40 dan

berbagi sama dalam (laba) perusahaan.• Criner akan diterima dengan investasi uang tunai $50. Criner

akan diberikan 40% bagian; Andrew dan Boyles akan masing-masing memiliki 30% bagian. Aset neto adalah dengan nilaiwajar; goodwill digunakan.

Implied value of firm, $80/(.60) $133.3Old capital, $40 + 40 $80Additional investment 50 130.0Goodwill $3.3

Criner: $130*40% = $52, but he pays $50 … so goodwill goes to new partner.Implied firm value is based on old partners' capital and retained interest.


Investasi dan goodwill menambahmodal (Goodwill untuk Sekutu lama)

Modal $ 80 pada awal, meningkat dengan$3.3 goodwill dan investasi tunai $50.

BeforeRevalu-ation

After re-valuation Investment Final

Andrew $40 $40 $40.0Boyles 40 40 40.0Criner $3.3 3.3 $50 53.3Total $80 $83.3 $133.3


Investasi ke Perusahaan: Bonus• Andrew dan Boyles memutuskan untuk tidak revalue

aset perusahaan, dan Criner menginvestasikan $50kas dalam perusahaan untuk kepentingan 1/3.

• modal baru Criner = 1/3 dari total $130. Karena iaberinvestasi pada $50 kas untuk kepentingan $52, $2bonus yang ditransfer dari sekutu lama.

Before Investment Bonus FinalAndrew $50 ($1) $49Boyles 40 (1) 39Criner $50 2 52Total $90 $130


Jurnal untuk investasi dalamperusahaan

• Entri untuk investasi Criner, di bawah metode goodwilldan bonus:

Goodwill 20Andrew Capital 10Boyles Capital 10

Cash 60Criner Capital 60

Goodwill method, goodwill to old partners

Cash 50Andrew Capital 1Boyles Capital 1

Criner Capital 52Bonus method, bonus to new partner


5: Kematian dan Mundurnya Sekutu

Partnerships – Formation, Operations, andChanges in Ownership Interests


DissociationNilai perusahaan, menurut RUPA, yang lebih besar dari

– Nilai likuidasi– Nilai penjualan sebagai keberlangsungan tanpa Sekutu

yang dipisahkanPembayaran untuk Sekutu keluar

– Sama dengan modal ybs yang ada– Lebih dari Modal yang ada

• Goodwill tersirat atau bonus untuk Sekutu keluar– Kurang dari Modal yang ada

• Menurunkan aset dinilai terlalu tinggi, atau bonus untukSekutu yang bertahan


6: Limited Liability Partnership

Partnerships – Formation, Operations, andChanges in Ownership Interests


Persekutuan Terbatas

• Persekutuan terbatas harus memiliki satuatau lebih Sekutu sebagai pimpinan(jenderalnya)

• Sekutu terbatas– Dikecualikan dari berpartisipasi dalam manajemen– Kewajiban terbatas– Perjanjian Persekutuan

• Secara tertulis, ditandatangani dan diarsipkan


COPYRIGHT © 2009 PEARSON EDUCATION, INC.PUBLISHING AS PRENTICE HALL

All rights reserved. No part of this publication may be reproduced,stored in a retrieval system, or transmitted, in any form or by any

means, electronic, mechanical, photocopying, recording, orotherwise, without the prior written permission of the publisher.

Printed in the United States of America.


© Pearson Education, Inc.publishing as Prentice Hall 16-44

Partnership Liquidation: Objectives1. Understand the legal aspects of partnership

liquidation.2. Apply simple partnership liquidation

computations and accounting.3. Perform safe payment computations.4. Understand installment liquidations.5. Learn about cash distribution plans for

installment liquidations.6. Comprehend liquidations when either the

partnership or the partners are insolvent.


1: LEGAL ASPECTS OF LIQUIDATIONPartnership Liquidation


Process of Liquidation

1. Convert noncash assets to cash2. Recognize gains or losses and expenses3. Settle all liabilities4. Distribute cash to partners according to balances in

capital accountsAssumes

– Business is solvent– Partners have equity in net assets– No partner loans– Assets are converted to cash before cash is distributed to

partners


Order of Payment

RUPA provides the following rank ordering forpayments in partnership liquidations

1. Amounts owed to creditors other thanpartners and amounts owed to partnersother than for capital and profits

2. Amounts due to partners liquidating theircapital balance upon conclusion of theliquidation of partnership assets andliabilities


2: SIMPLE LIQUIDATIONPartnership Liquidation


Simple Liquidation

• Converts all assets to cash• Makes a single distribution to partners in final

settlement

• Gains and losses on conversion of assets aredistributed to partners– Use established profit and loss ratios– Ignore salary, bonus, interest allowances


Debit Capital in Solvent Firm

• One or more (not all) partners has a debitbalance in capital

• Firm has sufficient cash and other assets ofvalue to pay all creditors

• Partner with debit capital balance– Contribute that amount to the firm– If unable, the debit balance is absorbed by the

remaining partners• Profit and loss ratios of remaining partners


Partnership Statement ofPartnership Liquidation

Beginning balances in cash, noncash assets, liabilitiesand partner accounts are adjusted as assets are converted to cash,

and cash payments are made.


3: SAFE PAYMENTSPartnership Liquidation


Safe Payments (def.)

Safe payments are distributions that can bemade to partners with assurance that theamounts distributed will not need to bereturned to the partnership at some laterdate to cover known liabilities or realignpartner capital.

Assumptions:– All partners are personally insolvent– Noncash assets represent possible losses– Additional cash may be needed for liquidation

expenses


What Safe Payments Do /Don't Do

• Safe payments schedules– Determine the amount of advance payment– Must be prepared for each cash distribution

unless capital balances align with profit and lossratios

• Don't– Change the capital balances– Affect the statement of partnership liquidation– Help project timing of distributions


Compute Safe Payments

• Begin with partner capital adjusted foroutstanding loans

• Assume all noncash assets are losses– Distribute losses to partners

• Plan for other loss contingencies– Distribute contingent losses to partners

• Redistribute possible losses from partners– Adjust profit and loss ratio

Safe payments are made after non-partnercreditors have been paid.


Example of Safe Payments

BMN Partnership has the following balances:

Procedure:• Net out partner loans/capital• Assume noncash assets are losses• Allow for other losses, assume $10

Cash $80 Loan payable to Nancy $20Loan from Maxine 10 Buzz Capital (50%) 50Land 20 Maxine Capital (30%) 70Building, net 140 Nancy Capital (20%) 110

$250 $250


Safe Payment Calculations

Safe payments: Partner amounts are zero orpositive.

Possiblelosses

Buzz(50%)

Maxine(30%)

Nancy(20%)

Equity (net of loans) $50 $60 $130Assumed losses:

Loss on assets ($160) (80) (48) (32)Other losses (10) (5) (3) (2)

Subtotal ($35) $9 $96Assume Buzz loss

New ratio 3:2 35 (21) (14)Subtotal $0 ($12) $82Assume Maxine loss 12 (12)Safe Payments $0 $0 $70


4: INSTALLMENT LIQUIDATIONSPartnership Liquidation


Installment Liquidations

• Involve distributions of cash to partners– As it is available– Before all gains and losses are realized

• Orderly liquidation of solvent partnership– Liabilities, other than those to partners, are paid

first– Then, partners can receive distributions

• Prepare a safe payment schedule for each distribution


Frequent Reports

• A Statement of Partnership Liquidation isprepared showing– Sale of noncash assets, distributions of P/L– Payment of creditors– Distributions to partners

• Safe Payment Schedule is prepared– Before distributions to partners

• An updated Statement of PartnershipLiquidation is prepared

• New Safe Payment Schedule …


Liquidation Statement, Jan. 31

Kemp's totalinvestment is $360


Duro, Kemp and Roth

At Jan. 31, there is $640 in cash.– Liabilities still due are $500– Can we give the $140 to the partners, and if so, to

whom?

The safe payment schedule answers this.– Assume the remaining noncash assets are losses

and allow for an extra $20 loss


Safe Payment Schedule, Jan. 31

Kemp can receive safe payments up to $120.Duro and Ross must agree.


Updating the LiquidationStatement


January Distributions

The liquidation schedule shows that– The creditors were paid their $500– Kemp was paid $20 on the loan and $100 of

capital (Maximum safe payment)

Cash of $20 remained in the partnership


5: Cash Distribution PlansPartnership Liquidation


Cash Distribution Plan

• a.k.a. Cash Pre-distribution Plan1. Rank the partners

• Vulnerability to partnership losses• Most vulnerable to least

2. Prepare a schedule of assumed loss absorption• Assume most vulnerable partner's equity loss first,

then next, …

3. Prepare a cash distribution plan4. Then, a cash distribution schedule


1. Vulnerability Ranking

• Partners are ranked according to lossabsorption potential

Loss absorption potential =Partner equity / loss ratio

Duro, Kemp and Roth have $340, $360 and$160 equity with profit-loss ratios of 50%,30%, and 20%

Duro: 340/.5 = $680Kemp: 360/.3 = $1,200Roth: 160/.2 = $800

Duro is most vulnerable, Kemp is least.


2. Assume Loss Absorption

Assume partnership losses sufficient to wipe out Duro first,then additional losses to eliminate Roth.

$680 is from Kemp's vulnerability ranking$60 = (800–680) x (30%+20%) additional loss for Roth.

Duro Kemp Roth Total*Equity (net of loans) $340 $360 $160 $860Assumed losses: (680)

Share 5:3:2 (340) (204) (136)Subtotal $0 $156 $24Assume additional losses:

New ratio 3:2 (36) (24) (60)Subtotal $0 $120 $0 $120


3. Cash Distribution Plan

If the $500 liabilities have not yet been paid,and two cash distributions are planned for$550 and $250, a cash distribution scheduleis prepared.


4. Cash Distribution Schedule


6: InsolvencyPartnership Liquidation


Insolvent Partnership

After all noncash assets are converted tocash

• Cash is insufficient to pay all creditors

Creditor options• Accept only partial payment• Look to partners for personal resources

– May go to most solvent partners– RUPA requires partners to

• Pay own share of unsatisfied liabilities

don't


COPYRIGHT © 2009 PEARSON EDUCATION, INC.PUBLISHING AS PRENTICE HALL

All rights reserved. No part of this publication may be reproduced,stored in a retrieval system, or transmitted, in any form or by any

means, electronic, mechanical, photocopying, recording, orotherwise, without the prior written permission of the publisher.

Printed in the United States of America.

advanced accountingbandi.feb.uns.ac.id/wp-content/uploads/2016/09/17...rupa "revised uniform...

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