Pada tanggal 1 Maret 2018, Binus Company menandatangani kontrak untuk membangun gedung apartemen.

Diperkirakan ba
akan menelan biaya $ 2.000.000 dan akan memakan waktu 3 tahun untuk menyelesaikannya. Harga kontrak adalah $3.000.00
berikut berkaitan dengan periode konstruksi:

2018 2019
Cost to date $ 600,000 $ 1,560,000
Estimated costs to complete 1,400,000 520,000
Progress billings to date 1,050,000 2,000,000
Cash collected to date 950,000 1,950,000

Instructions:

Dengan menggunakan metode persentase penyelesaian (percentage of completion method), hitung estimasi laba
a.
akan diakui selama masing-masing periode tahun masa konstruksi dan buat financial statementnya!

Dengan menggunakan metode kontrak selesai (completed contract method), hitung estimasi laba kotor yang akan
b.
tahun dari periode konstruksi dan buat financial statementnya!

Solutions:
Step 1 : Percent Complete
2018 2019
Contract Price $ 3,000,000 $ 3,000,000
Estimated Cost:
Cost to Date 600,000 1,560,000
Estimated Cost to Complete 1,400,000 520,000
Estimated Total Cost 2,000,000 2,080,000
Estimated Total Gross Profit $ 1,000,000 $ 920,000
Percent Complete 30% 75%

Step 2 : Recognize
Recognized in Prior
To Date
Years
2018
Revenue ($ 3,000,000 x 30%) $ 900,000
Costs 600,000
Gross Profit 300,000

2019
Revenue $ 2,250,000 $ 900,000
Costs 1,560,000 600,000
Gross Profit 690,000 300,000

2020
 Revenue $ 3,000,000 $ 2,250,000
Costs 2,100,000 1,560,000
Gross Profit 900,000 690,000

Journal Entry (Biaya Konstruksi, Tagihan kemajuan, dan Penagihan)

2018 2019
To record costs of construction:
Construction in Process 600,000 960,000
Materials, Cash, Payables, etc 600,000 960,000

To record progress billings:

Accounts Receivable 1,050,000 2,000,000
Billings on Construction in Process 1,050,000 2,000,000

To record collections:
Cash 950,000 1,950,000
Accounts Receivable 950,000 1,950,000

Step 3 : Journal

Dengan menggunakan metode persentase penyelesaian (percentage of completion method),

a. Binus Company untuk mengakui pendapatan dan laba kotor setiap tahun dan mencatat penyelesaian
dan persetujuan akhir kontrak.

2018 2019
To recognize revenue and gross profit:
Construction in Process (gross profit) 300,000 390,000
Construction Expenses 600,000 960,000
Revenue from Long Term Contracts 900,000 1,350,000

To record completion of the contract:

Billings on Construction in Process
Construction Expenses

Dengan menggunakan metode kontrak selesai (completed contract method), hitung estimasi laba kotor yang akan
b.
tahun dari periode konstruksi

2020
Billings on Construction in Process 3,000,000
Revenue from Long-Term Contracts 3,000,000

Cost of Constructions 2,100,000

Construction in Process 2,100,000

Step 4 : Compare
 Percentage of completion Completed contract
method method
2018 $ 300,000 $ -
2019 390,000 0
2020 210,000 $ 900,000
g apartemen. Diperkirakan bangunan itu
arga kontrak adalah $3.000.000. Informasi

2020
$ 2,100,000
-
3,000,000
2,850,000

method), hitung estimasi laba kotor yang

tatementnya!

estimasi laba kotor yang akan diakui setiap

Step 5 : Financial Statement (Percentage of Completion)

2020 BINUS CONSTRUCTION COMPANY
$ 3,000,000 Income Statement
Revenue from Long Term Contracts
2,100,000 Cost on Constructions
- Gross Profit
2,100,000
$ 900,000 Balance Sheet (12/31)
100% Current Asset
Accounts Receivable

Recognized in Current Liabilities

Current Year Billings
Less: Construction in process
$ 900,000
600,000 Billings in excess of costs and recognized profit
300,000

BINUS CONSTRUCTION COMPANY

$ 1,350,000 Income Statement
$ 960,000 Revenue from Long Term Contracts
390,000 Cost on Constructions
Gross Profit
 $ 750,000 Balance Sheet (12/31)
540,000 Current Asset
210,000 Accounts Receivable

Current Liabilities
2020 Billings
Less: Construction in process
540,000
540,000 Billings in excess of costs and recognized profit

3,000,000 BINUS CONSTRUCTION COMPANY

3,000,000 Income Statement
Revenue from Long Term Contracts
Cost on Constructions
2,850,000 Gross Profit
2,850,000

Step 5 : Financial Statement (Complete Contract)

BINUS CONSTRUCTION COMPANY
method),
at penyelesaian
Income Statement
Revenue from Long Term Contracts
2020 Cost of Constructions
Gross Profit
210,000
540,000 Balance Sheet (12/31)
750,000 Current Assets
Accounts Receivable

3,000,000 Inventory
3,000,000 Construction in process 600,000
Less: Billings 1,050,000
Costs in excess of billings
stimasi laba kotor yang akan diakui setiap
Current Liabilities
Billings ($ 3.050.000) in excess of costs ($
1.560.000)
mpletion)
BINUS CONSTRUCTION COMPANY
2018
$ 900,000
600,000
$ 300,000

2018

$ 100,000
$ 1,050,000
900,000
osts and recognized profit $ 150,000
Jika Billings > dari Construction in
Process maka masuk ke Current
Liablities
Jika Billings < dari Construction in
Process maka masuk ke Current
Asset - Inventory

BINUS CONSTRUCTION COMPANY

2019
$ 1,350,000
$ 960,000
$ 390,000
 2019

$ 150,000

$ 3,050,000
$ 2,250,000

osts and recognized profit $ 800,000

BINUS CONSTRUCTION COMPANY

2020
$750,000
540,000
$ 210,000

t)
BINUS CONSTRUCTION COMPANY

2018 2019 2020

$3,000,000
2,100,000
$ 900,000

$ 100,000 $ 150,000 $ -

-450,000

$ 1,490,000 $ -
struction in
e Current

nstruction in
e Current
Pada tanggal 1 Januari 2020, Mango Co. memiliki kontrak dengan Banana Co. untuk membangun gedung
dengan nilai kontrak $10.500.000. Bangunan diharapkan selesai pada 30 Desember 2021. Berikut ini
adalah data terkait konstruksi (dalam $):

2018 2019
Cost to date $ 3,600,000 $ 2,787,500
Estimated costs to complete 4,400,000 2,737,500
Progress billings to date 4,000,000 4,375,000
Cash collected to date 3,750,000 8,000,000

Instructions:

Dengan menggunakan metode persentase penyelesaian (percentage of completion method), hitung estimasi laba
a.
akan diakui selama masing-masing periode tahun masa konstruksi dan buat financial statementnya!

Dengan menggunakan metode kontrak selesai (completed contract method), hitung estimasi laba kotor yang akan
b.
tahun dari periode konstruksi dan buat financial statementnya!

Solutions:
Step 1 : Percent Complete
2018 2019
Contract Price $ 10,500,000 $ 10,500,000
Estimated Cost:
Cost to Date 3,600,000 2,787,500
Estimated Cost to Complete 4,400,000 2,737,500
Estimated Total Cost 8,000,000 5,525,000
Estimated Total Gross Profit $ 2,500,000 $ 4,975,000
Percent Complete 45% 50%

Step 2 : Recognize
Recognized in Prior
To Date
Years
2018
Revenue ($ 3,000,000 x 30%) $ 4,725,000
Costs 3,600,000
Gross Profit 1,125,000

2019
Revenue $ 5,297,511 $ 4,725,000
Costs 2,787,500 3,600,000
Gross Profit 2,510,011 1,125,000

2020
 Revenue $ 10,500,000 $ 5,297,511
Costs 2,737,500 2,787,500
Gross Profit 7,762,500 2,510,011

Journal Entry (Biaya Konstruksi, Tagihan kemajuan, dan Penagihan)

2018 2019
To record costs of construction:
Construction in Process 3,600,000 -812,500
Materials, Cash, Payables, etc 3,600,000 -812,500

To record progress billings:

Accounts Receivable 4,000,000 4,375,000
Billings on Construction in Process 4,000,000 4,375,000

To record collections:
Cash 3,750,000 8,000,000
Accounts Receivable 3,750,000 8,000,000

Step 3 : Journal

Dengan menggunakan metode persentase penyelesaian (percentage of completion method),

a. Binus Company untuk mengakui pendapatan dan laba kotor setiap tahun dan mencatat penyelesaian
dan persetujuan akhir kontrak.

2018 2019
To recognize revenue and gross profit:
Construction in Process (gross profit) 1,125,000 1,385,011
Construction Expenses 3,600,000 812,500
Revenue from Long Term Contracts 4,725,000 572,511

To record completion of the contract:

Billings on Construction in Process
Construction Expenses

Dengan menggunakan metode kontrak selesai (completed contract method), hitung estimasi laba kotor yang akan
b.
tahun dari periode konstruksi

2020
Billings on Construction in Process 10,500,000
Revenue from Long-Term Contracts 10,500,000

Cost of Constructions 2,737,500

Construction in Process 2,737,500

Step 4 : Compare
 Percentage of completion Completed contract
method method
2018 $ 1,125,000 $ -
2019 1,385,011 0
2020 5,252,489 $ 7,762,500
 gedung
t ini

2020
$ 2,737,500
-
2,125,000
10,500,000

method), hitung estimasi laba kotor yang

tatementnya!

estimasi laba kotor yang akan diakui setiap

Step 5 : Financial Statement (Percentage of Completion)

2020 BINUS CONSTRUCTION COMPANY
$ 10,500,000 Income Statement
Revenue from Long Term Contracts
2,737,500 Cost on Constructions
- Gross Profit
2,737,500
$ 7,762,500 Balance Sheet (12/31)
100% Current Asset
Accounts Receivable

Recognized in Inventory
Current Year Construction in process
Less: Billings
$ 4,725,000
3,600,000 Costs and recognized profit in excess of billings
1,125,000

BINUS CONSTRUCTION COMPANY

$ 572,511 Income Statement
$ (812,500) Revenue from Long Term Contracts
1,385,011 Cost on Constructions
Gross Profit
 $ 5,202,489 Balance Sheet (12/31)
(50,000) Current Asset
5,252,489 Accounts Receivable

Current Liabilities
2020 Billings
Less: Construction in process
-50,000
-50,000 Billings in excess of costs and recognized profit

2,125,000 BINUS CONSTRUCTION COMPANY

2,125,000 Income Statement
Revenue from Long Term Contracts
Cost on Constructions
10,500,000 Gross Profit
10,500,000

Step 5 : Financial Statement (Complete Contract)

BINUS CONSTRUCTION COMPANY
method),
at penyelesaian
Income Statement
Revenue from Long Term Contracts
2020 Cost of Constructions
Gross Profit
5,252,489
50,000 Balance Sheet (12/31)
5,202,489 Current Assets
Accounts Receivable

10,500,000 Inventory
10,500,000 Construction in process 3,600,000
Less: Billings 4,000,000
Costs in excess of billings
stimasi laba kotor yang akan diakui setiap
Current Liabilities
Billings ($ 8.375.000) in excess of costs ($
2.787.500)
mpletion)
BINUS CONSTRUCTION COMPANY
2018
$ 4,725,000
3,600,000
$ 1,125,000

2018

$ 250,000
$ 4,725,000
4,000,000
profit in excess of billings $ 725,000
Jika Billings > dari Construction in
Process maka masuk ke Current
Liablities
Jika Billings < dari Construction in
Process maka masuk ke Current
Asset - Inventory

BINUS CONSTRUCTION COMPANY

2019
$ 572,511
$ (812,500)
$ 1,385,011
 2019

$ (3,375,000)

$ 8,375,000
$ 4,572,511

sts and recognized profit $ 3,802,489

BINUS CONSTRUCTION COMPANY

2020
$5,202,489
(50,000)
$ 5,252,489

)
BINUS CONSTRUCTION COMPANY

2018 2019 2020

$10,500,000
2,737,500
$ 7,762,500

$ 250,000 $ (3,375,000) $ -

-400,000

$ 5,587,500 $ -
2
struction in
e Current

nstruction in
e Current