CORPORATION

Tutor
What is Corporation

Kepemilikan
Saham dimiliki oleh sahamnya dapat
banyak pemegang diperjualbelikan
saham

Issue Shares
untuk
mendapatkan
additional capital
 Cash
issued for
Fixed
issued for Assets

Shares issued for Pay

Expense

2 istilah pada
penerbitan
saham
Par Value/
Stated Market
Value Value
Illustration: Hardhat Construction Company has a contract to
construct a 4,500,000 bridge at an estimated cost of
4,000,000. The contract is to start in July 2015, and the bridge
is to be completed in October 2017. The following data pertain to
the construction period.
Journal
Entries
1. Jurnal Cost Incurred
Construction in Process XXX
AP, Cash, Material XXX

2. Jurnal Billing to Customer

Account Receivables XXX
Billing on Construction in Process XXX

3. Jurnal Cash Collection

Cash XXX
Account Receivables XXX
Journal
Entries
4. Jurnal Revenue Recognition
Construction in Process XXX
Construction Expense XXX
Revenue from Long Term Contract XXX

5. Jurnal Completion
Billing on Construction in Process XXX
Construction in Process XXX
Cost Recovery Method
Perbedaan
ada di
jurnal ke 4
dan ke 5
 Long Term Contract Losses

Loss in
Current Loss on
Period on unprofita
Profitabl ble
e contract
Contract

Percentage-of-completion method only, Under both percentage-of-completion

the estimated cost increase requires a and cost-recovery methods, the
current-period adjustment of gross company must recognize in the current
profit recognized in prior periods period the entire expected contract loss
Loss in Current Period on
Profitable Contract
 Untung = CIP
Debit
Rugi = CIP
Kredit
4. Jurnal Revenue Recognition
Construction in Process XXX
Construction Expense XXX
Revenue from Long Term Contract XXX
Loss on Unprofitable Contract

NB : Langsung
Catat Rugi
Saat Tahun
Contract Loss
Loss on Unprofitable Contract
(in percent complete)

$675,000 683,438 = (8,438) cumulative loss

Loss on Unprofitable Contract
(in percent complete)
Loss on Unprofitable Contract
(in cost recovery)