Ferdinand I $7,000,000

2015
Cost to Da $ 1,700,000
Estimated $ 3,300,000
Progress bi $ 1,200,000
Cash collec $ 960,000

Jawaban PERCENTAGEOF COMPLETION METHOD

2015
Contract Pr $ 7,000,000
Less estimated cost:
Cost to Da $ 1,700,000
Estimated $ 3,300,000
Estimated $ 5,000,000
Estimated G$ 2,000,000
Percent Co 34%

2015
To record cost of constriction
Construction in Proce $ 1,700,000
Materials, Cash, Payable,

To record progress billings

Account Recievables $ 1,200,000
Billing construction in P

To record collections
Cash $ 960,000
Account Recievables

To Date

2015
Revenue $ 2,380,000
Cost $ 1,700,000
Gross Profi $ 680,000

2015
To recognize revenue and gross profit :
Construction in Proce $ 680,000
Construction Expense $ 1,700,000
Revenue from Long-Term
To record completion of the contract :
Billings on Constructi No Entry
Construction in Process
 (Untuk membangun sebuah gedung kantor dengan kontrak pada tahun 2015)

ERCENTAGEOF COMPLETION METHOD

2015

$ 1,700,000

$ 1,200,000

$ 960,000

Recognized
Recognized in Prior Years in Current
Year

$ 2,380,000
$ 1,700,000
$ 680,000

2015
nd gross profit :

$ 2,380,000
f the contract :

No Entry