Auditing Debt and EquityThe 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/Notes20102009LIABILITIES ANDSHAREHOLDERS' EQUITYKEWAJIBAN DAN EKUITASKEWAJIBAN LANCARCURRENT LIABILITIESShort-term bank loansTrade payables - Third partiesTaxes payableOther payablesAccrued expensesAdvance on sales63.218.778.659 2b,h,m,q,10,2416.049.325.984 2b,1,m,q,11,243.289.221.216Pinjaman bank jangka pendekHutang usaha - Pihak ketigaHutang pajakHutang lain-lainBiaya masih harus dibayarUang muka penjualanBagian kewajiban jangka panjangyang jatuh tempo dalam waktusatu tahun59.461.174.39011.810.234.60176.862.64244.048.1871.259.063.8302n,20b1.322.870.535896.800.000122b,4153.161.300 2b,h,m,q,13,24Current maturities of long-termdebts9.120.148.381Jumlah Kewajiban Lancar84.930.157.69481.771.532.031Total Current LiabilitiesKEWAJIBAN TIDAK LANCARKewajiban jangka panjang - setelahdikurangi bagian yang jatuhtempo dalam waktu satu tahunKewajiban pajak tangguhan - BersihKewajiban diestimasi imbalanpasca-kerjaNON-CURRENT LIABILITIESLong-term debts - net ofcurrent maturitiesDeferred tax liabilities - NetEstimated liabllities forpost-employment benefits128.338.374 2b,h,m,q,13,2418.457.040.32845.066.961.09018.329.375.9002n,20d1.975.245.05621,221.588.160.200Jumlah Kewajiban Tidak Lancar20.560.623.75864.984.497.190Total Non-Current LiabilitiesJumlah Kewajiban105.490.781.452146.756.029.221Total LiabilitiesEKUITASModal saham - nilai nominalRp 100 per sahamModal dasar - 4.000.000.000sahamModal ditempatkan dan disetorpenuh - 1.500.000.000 saham(2009: 1.300.000.000 saham)Tambahan modal disetor - BersihSaldo labaSHAREHOLDERS' EQUITYShare capital - par value Rp 100per shareAuthorized - 4,000,000,000sharesIssued and fully paid -1,500,000,000 shares(2009: 1,300,000,000 shares)Additional pald-In capital - NetRetained earnings150.000.000.00033.542.841.148130.000.000.0004.367.923.96821.257.157.437142k, 1545.916.926.397Jumlah Ekuitas229.459.767.545155.625.081.405Total Shareholders' EquityJUMLAH KEWAJIBAN DANTOTAL LIABILITIES ANDEKUITAS334.950.548.997302.381.110.626SHAREHOLDERS' EQUITY

Debt is simply the sum owed by the borrower to the lender. Debt is a sum of money that is borrowed…

Auditing Debt and Equity 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?

Auditing Debt and Equity 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?

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section18.1: Short-term Debt Financing

Problem 1WT

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