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{February 20, 2011}   soal 1 – 8 Analisa laporan keuangan

Neraca dan laporan laba rugi Chico Electronics disajikan di bawah ini ( tariff pajak 40% )

CHICO ELECTRONICS

Neraca ( ribuan $ )

Per 31 Desember

                                                                                                                                Tahun 4                                Tahun 5

Aktiva

Aktiva lancar :

Kas                                                                                                                         $   683                                    $   325

Piutang Dagang                                                                                                   1.490                                     3.599

Persediaan                                                                                                           1.415                                     2.423

Beban di bayar dimuka                                                                                          15                                           13

                Total aktiva lancar                                                                           3.603                                     6.360

Aktiva tetap, bersih                                                                                         1.065                                      1.541

Aktiva lain – lain                                                                                                   123                                         157

Total aktiva                                                                                                   $  4.792                                 $   8.058

Kewajiban dan Ekuitas Pemegang Saham

Kewajiban lancar :

Wesel bayar kepada bank                                                                            $ —-                                      $     875

Utang jangka panjang jatuh tempo dalam waktu

Satu tahun                                                                                                                   38                                          116

Utang usaha                                                                                                             485                                          933

Estimasi kewajiban pajak penghasilan                                                          588                                          472

Akrual beban                                                                                                           576                                          586

Uang muka pelanggan                                                                                             34                                          963

                Total kewajiban lancar                                                                     1.721                                      3.945

Utang jangka panjang                                                                                             122                                        179

Kewajiban lain – lain                                                                                                  81                                        131

Total kewajiban                                                                                                     1.924                                     4.255

Ekuitas pemegang saham :

Saham biasa, nilai nominal 1$;modal dasar 1.000.000

Lembar; saham beredar 550.000 lembar tahun 4 dan

829.000 lembar tahun 5                                                                                         550                         829

Saham preferen, Seri A 10%;nilai nominal $25;modal

Dasar 25.000 lembar tahun 4 dan 18.000 lembar tahun 5                      500                         450

Tambahan modal disetor                                                                                         450                         575

Laba ditahan                                                                                                              1.368                      1.949

                Total ekuitas pemegang saham                                                          2.868                      3.803

Total kewajiban dan ekuitas pemegang saham                                         $4.792                 $8.058

CHICO ELECTRONICS

Laporan laba rugi ( ribuan $ )

Tahun yang berakhir pada tanggal 31 Desember

                                                                                                                                Tahun 4                                Tahun 5

Penjualan bersih                                                                                              $ 7.570                                  $ 12.085

Penghasilan lain, bersih                                                                                         261                                           345

                Total pendapatan                                                                               7.831                                      12.410

Harga pokok penjualan                                                                                   4.850                                        8.048

Beban umum,adm dan pemasaran                                                             1.531                                        2.025

Beban bunga                                                                                                              22                                              78

                Total biaya dan beban                                                                     6.403                                      10.151

Laba bersih sebelum pajak                                                                            1.428                                         2.259

Pajak penghasilan                                                                                                  628                                             994

Laba bersih                                                                                                       $    800                                   $     1.265

 

Diminta :

Hitung dan intrepretasikan rasio keuangan perusahaan berikut ini untuk Tahun 5 :

  1. Rasio cepat ( acid test ratio )
  2. Pengembalian atas aktiva ( return on assets )
  3. Pengembalian atas ekuitas biasa ( retirn on common equity )
  4. Laba per saham ( earning per share )
  5. Rasio margin laba kotor ( gross profit margin ratio )
  6.  Kelipatan bunga dihasilkan ( times interest earned )
  7. Jumlah hari untuk menjual persediaan ( days to sell inventory )
  8. Rasio utang jangka panjang terhadap ekuitas ( long – term debt to equity ratio )
  9. Total utang terhadap equitas ( total debt to equity )
  10. Penjualan terhadap modal kerja ( sales to end of year working capital )

 

JAWABAN :

  1. Rasio cepat ( acid test ratio )

= Kas + kas setara + surat berharga + piutang usaha / kewajiban lancar

= 3.924 / 3.945 = 0,99

  1. Pengembalian atas aktiva ( return on assets ) 

= Laba bersin + beban bunga ( 1 – tarif pajak )/ rata – rata total aktiva

= ( 1.265 + 78 ( 1 – 0,4 ))/(( 4.792 + 8.058 )/2)

= 805,8 / 6425 = 12%

  1. Pengembalian atas ekuitas biasa ( return on common equity )

= Laba bersih / rata – rata ekuitas pemegang saham

= 1.265 / ((2.868 + 3.803)/2)

= 1.265 / 3.333,5 = 37,9%

  1. Laba per saham ( earning per share ) 

= Laba bersih / Jumlah lembar saham

= 1.265 / 849.000

= 0,149

  1. Rasio margin laba kotor ( gross profit margin ratio )

=( Penjualan – HP Penjualan )/ Penjualan

= (12.065 – 8.048) / 12.065

= 33,29%

  1.  Kelipatan bunga dihasilkan ( times interest earned )

= laba sebelum pajak & bunga / beban bunga

= 2.237 / 78

= 28,67%

  1. Jumlah hari untuk menjual persediaan ( days to sell inventory )

= persediaan rata – rata /( HP Penjualan / 360)

= ((1.415 + 2.423 )/2) / (8.048 / 360)

= 1.919 / 22,35

= 85 hari

  1. Rasio utang jangka panjang terhadap ekuitas ( long – term debt to equity ratio )

= kewajiban jangka panjang  / ekuitas pemegang saham

= 179 / 3.803

= 0,047

  1. Total utang terhadap equitas ( total debt to equity )

= total kewajiban / ekuitas pemegang saham

= 4.255 / 3.803 = 1,11

  1. Penjualan terhadap modal kerja ( sales to end of year working capital )

= 12.065 / 2.415 = 52%

 



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