1 / 24

Bonds Payable (Hutang Obligasi) Prepared by Dra. Gunasti Hudiwinarsih, M.Si., Ak Dosen Tetap STIE Perbanas Surabaya

Bonds Payable (Hutang Obligasi) Prepared by Dra. Gunasti Hudiwinarsih, M.Si., Ak Dosen Tetap STIE Perbanas Surabaya. Accounting, 21 st Edition Warren Reeve Fess. Debt Financing: Bondholders . Equity Financing: Stockholders . Two Methods of Long-Term Financing.

yuval
Download Presentation

Bonds Payable (Hutang Obligasi) Prepared by Dra. Gunasti Hudiwinarsih, M.Si., Ak Dosen Tetap STIE Perbanas Surabaya

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bonds Payable (Hutang Obligasi) Prepared by Dra. Gunasti Hudiwinarsih, M.Si., Ak Dosen Tetap STIE Perbanas Surabaya Accounting, 21st Edition Warren Reeve Fess

  2. Debt Financing: Bondholders Equity Financing: Stockholders Two Methods of Long-Term Financing Resources = Sources Liabilities Assets Stockholders’ Equity

  3. Two Methods of Long-Term Financing Stockholders Bondholders Why issue bonds rather than stock? Bonds (debt)—Beban bunga akan mengurangi laba kena pajak. Stock (equity)—Dividen dibayarkan dari laba setelah pajak dan retained earnings (laba ditahan) Earnings per shareon common stock meningkat bila mengeluarkan bonds dibanding menambah stock.

  4. Alternative Financing Plans – $800,000 Earnings Plan 1 Plan 2 Plan 3 12 % bonds — — $2,000,000 Preferred 9% stock, $50 par — $2,000,000 1,000,000 Common stock, $10 par $4,000,000 2,000,000 1,000,000 Total $4,000,000 $4,000,000 $4,000,000 Earnings before interest and income tax $ 800,000 $ 800,000 $ 800,000 Deduct interest on bonds — — 240,000 Income before income tax $ 800,000 $ 800,000 $ 560,000 Deduct income tax 320,000 320,000 224,000 Net income $ 480,000 $ 480,000 $ 336,000 Dividends on preferred stock — 180,000 90,000 Available for dividends $ 480,000 $ 300,000 $ 246,000 Shares of common stock ÷400,000÷200,000 ÷100,000 Earnings per share $ 1.20 $ 1.50 $ 2.46

  5. Characteristics of Bonds Payable • A bond contract is called a bond indentureortrust indenture. • Long-term debt—repayable 10, 20, or 30 years after date of issuance. • Issued inface(principal) amounts of $1,000, or multiples of $1,000. • Contract interest rate is fixedfor term (life) of the bond. • Face amountof bond repayable at maturity date.

  6. Characteristics of Bonds Payable • Semua obligasi yg jatuh tempo satu tanggal disebut term bonds.Apabila jatuh tempo berseri disebut serial bonds (obligasi berseri) • Obligasi yg ditukar dengan surat berharga lain (securities) disebut convertible bonds. • Obligasi dapat ditebus kembali sebelum jth tempo : callable bonds. • Obligasi/Bonds sebagai kredit perusahaan yg bersifat umum disebut debenture bonds.

  7. The Present-Value Concept and Bonds Payable Harga obligasi yang ditawarkan tergantung beberapa faktor: 1.The face amount of the bonds (N.Nominal), jumlah yg dibayarkan saat jatuh tempo 2. Tanggal bunga obligasi = the contract rateor thecoupon rate. 3. Bunga Efektif = The marketor effectiverate of interest.

  8. HARGA OBLIGASI • Adalah nilai tunai (present value) dari bunga yg dibayar selama jangka waktu obligasi ditambah nilai nominalnya. • Faktor bunga untuk menilai tunaikan jumlah bunga + jumlah nominal = suku bunga efektif • Rumus nilai obligasi tahun 0 SBN x NN + SBN x NN ….. SBN x NN + NN (1+SBE)¹ (1+SBE)² (1+SBE)n Atau 1 - 1 (1+SBE)n (SBN x NN) ( ) +NN x ( 1 ) SBE (1+SBE)n

  9. $1,000 10% payable annually The Present-Value Concept and Bonds Payable MARKET RATE = CONTRACT RATE Sell price of bond = $1,000

  10. $1,000 10% payable annually Discount/Disagio The Present-Value Concept and Bonds Payable MARKET RATE > CONTRACT RATE Sell price of bond < $1,000 –

  11. $1,000 10% payable annually Premium/Agio The Present-Value Concept and Bonds Payable MARKET < CONTRACT RATE Sell price of bond > $1,000 +

  12. $100 $100 Interest payment Interest payment End of Year 1 End of Year 2 Today $1,000 10% payable annually $90.91 $100 x 0.90909 $100 x 0.82645 $82.65 $1,000 x 0.82645 $826.45 A $1,000, 10% bond is purchased. It pays interest annually and will mature in two years. $1,000.00 (rounded)

  13. Accounting for Bonds Payable PENJUALAN OBLIGASI • Misal: PT KOKO pada 1 Jan 2004 diberi wewenang RUPS mengeluarkan 1000 lbr obligasi 12% nilai nominal Rp.10.000/lbr. Bunga dibayar 1 Jan & 1 Juli umur 5 tahun. Pada saat pemberian wewenang pengeluaran obligasi No entry. • Jurnal dilakukan saat terjadi transaksi penjualan

  14. Bonds Issued at Face Amount • 1 Jan 2004 Kas 10.000.000 Hutang Obligasi 10.000.000 • 1 Juli 2004 Biaya bunga 600.000 Kas 600.000 • 31 Des 2004 AJE: Biaya bunga 600.000 Hutang bunga 600.000

  15. Penjualan diluar tgl bunga • 1 Mei 2004 • Pendekatan Laba rugi Kas 10.400.000 Hutang Obligasi 10.000.000 Biaya bunga 400.000 • 1 Juli 2004 Biaya bunga 600.000 Kas 600.000

  16. Pendekatan Neraca • 1 Mei 2004 Kas 10.400.000 Hutang obligasi 10.000.000 Hutang bunga/biaya 400.000 • 1 Juli 2004 Hutang bunga/biaya 400.000 Biaya bunga 200.000 Kas 600.000

  17. Bonds Issued at a Premium • Misal: 1 Jan 2004 dijual dgn harga Rp. 11.000.000 1 Jan’04 Kas 11.000.000 Hutang obligasi 10.000.000 Agio hutang obl 1.000.000 • Agio hutang obligasi merupakan rekening penambah (adjunct account) hutang obligasi & dapat dipandang sbg pengurang beban bunga yg dilakukan dgn cara amortisasi agio tsb selama umur obligasi

  18. Amortisasi dilakukan pada akhir periode (AJE). & ada 2 metode: • Metode garis lurus • Metode bunga efektif • Misal: Agio hutang obligasi Rp. 1000.000, umur 5 th, metode garis lurus. Amortisasi setiap tahun: Rp.1000.000 : 5 = Rp. 200.000 • Jurnal: 31/12 Agio hutang obligasi 200.000 Biaya bunga 200.000

  19. Bonds Issued at a Discount • 1 Jan’04 dijual dgn harga Rp. 9500.000 Jurnal: Kas 9500.000 Disagio hut obl 500.000 Hutang Obligasi 10.000.000 • Disagio dipandang sbg penambah beban bunga: Bunga 5 th:12%x5x10.000.000 = Rp. 6000.000 Disagio hutang obligasi = Rp. 500.000 Bunga efektif beban PT KOKO = Rp. 6500.000

  20. Amortisasi tiap th : Rp.500.000: 5 =Rp.100.000 • Jurnal: 31 Des Biaya bunga Rp.100.000 Disagio hutang 0bligasi Rp.100.000

  21. Penyajian di NERACA • Nilai Nominal + Agio belum amortisasi atau • Nilai Nominal – Disagio belum amortisasi Neraca Per 31 Des Hutang jangka panjang: Hutang obligasi Rp. 10.000.000 Disagio hut obligasi Rp. 400.000 Nilai buku Rp. 9.600.000

  22. MENARIK OBLIGASI SEBELUM JATUH TEMPO (BOND REDEMPTION) • Diperlukan jurnal: • Menghapus nilai buku obligasi per tanggal penarikan • Mencatat jumlah kas yg dibayar • Mengakui kerugian/keuntungan penarikan dari selisih nilai buku dgn kurs penarikan • Misal: awal tahun 2007 PT KOKO menarik obligasi dgn nilai Rp. 10.100.000

  23. Nilai buku tahun 2007 Th 2004 = 100.000 Th 2005 = 100.000 Th 2006 = 100.000 Jumlah amortisasi = 300.000 N.buku= 10.000.000 - 200.000 = 9.800.000 Dilunasi =10.100.000 Kerugian penarikan = 300.000

  24. Jurnal: 1Jan’07 Hutang obligasi 10.000.000 Kerugian penarikan 300.000 Kas 10.100.000 Disagio hut obligasi 200.000 Bi. Bunga 600.000 Kas 600.000

More Related