Reference no: EM132798639
Question - PT Angkasa Perkasa Multipurpose Audit Case - You works as an auditor at the KAP Moh Mahdun and Partner office. You assigned became the Team Leader to audit PT Angkasa Perkasa Multipurpose. Auditee data already you receive it completely, then you and the team immediately start examining the report finance according to the Public Accountant Professional Standards (SPAP). You and Tim began to see Auditee Financial Statements starting from the Balance Sheet, Income Statement and supporting documents.
This is the first time PT Angkasa Perkasa Multiguna has been audited by a KAP. Balance Sheet and Reports Profit and Loss is shown as follows:
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PT Angkasa Perkasa Multipurpose Balance sheet As of December 31, 2019
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Assets
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Liability
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Current asset
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Current Liabilities
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Cash
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Rp 36,000,000
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Accounts payable
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Rp 14,250,000,000
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Bank
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Rp 2,450,000,000
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Employee Debt
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Rp 450,000,000
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Accounts receivable
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Rp 12,875,000,000
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Miscellaneous Debt
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Rp 1,675,000,000
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Receivables employee
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Rp 185,000,000
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Tax debt
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Rp 2,780,000,000
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Receivables from the Board of Directors
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Rp 250,000,000
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Prepaid income
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Rp 3,360,000,000
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Other receivables
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RP 247,500,000
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Advance payment
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Rp 1,780,000,000
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Stock
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Rp 6,800,000,000
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amount
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Rp 24,623,500,000
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amount
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Rp 22,515,000,000
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Fixed assets
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Long-term obligation
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Soil
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Rp 5,000,000,000
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Bank Loans
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Rp 7,500,000,000
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Building
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Rp 15,000,000,000
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Debt of Directors
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Rp 2,500,000,000
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Accumulated Depreciation of Buildings
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Rp (1,050,000,000)
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Vehicle
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Rp 950,000,000
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Amount of Long Liability
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Rp 10,000,000,000
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Accumulated depreciation of vehicles
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Rp (240,000,000)
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Inventory
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Rp 1,200,000,000
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Inventory Accumulated Depreciation Equity
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Rp (340,000,000)
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Capital stock
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Rp 5,000,000,000
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Book Value of Fixed Assets
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Rp 20,520,000,000
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Retained earnings
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Rp 6,283,500,000
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Current year profit
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Rp 1,345,000,000
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Total Equity
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Rp 12,628,500,000
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Total assets
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Rp 45,143,500,000
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Total Liabilities
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Rp 45,143,500,000
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1. After examining the financial statements, the Profit and Loss Statement and supporting documents, found evidence of physical examination of cash (cash count) amounting to Rp 32,650,000. This is caused by:
a. no record of paper purchases (administrative expense) of Rp. 400,000 has been recorded
b. electricity load has not been recorded for Rp. 2,350,000 c. has not recorded the AC service load of Rp. 600,000
2. The company has not recorded the December salary expense transaction of Rp. 86,000,000.
3. The company has not recorded the Rp 12,000,000 advertising expense transaction.
4. The company has not recorded an inventory depreciation expense of Rp. 26,000,000.
Required - Based on the above case make audited Balance Sheet (which has been audited)!