CPM Construction Company Accounting

Diajukan sebagai salah satu tugas Rekayasa Biaya (SI-5252)

Dosen : Ir. Biemo W. Soemardi, MSE,Ph.D.

Disusun oleh :

Prita Herdianti

25013049

Program Studi Pascasarjana Manajemen Rekayasa Konstruksi

Fakultas Teknik Sipil dan Lingkungan

Institut Teknologi Bandung

2014

Tugas Rekayasa Biaya, CPM Construction Company Accounting

a. CPM Construction Company Journal
Transaction
on Number

Date

1/2/X3

2/4/X3

3/4/X3

3/8/X3

4/7/X3

5/8/X3

6/7/X3

7/3/X3

8/16/X3

10

9/16/X2

11

10/1/X3

12

10/20/X3

13

11/15/X3

14

12/15/X3

15

12/25/X3

16

12/25/X3

17

12/30/X3

18

12/30/X3

19

12/31/X3

Transaction

Debit

Bought construction equipment

Equipment (Asset)
$ 230.000,00

Cash (Asset)

Account payable-Trade (Liability)

Billed by Smith Material Supplier for cost of material

Material (Expenses)
$
80.000,00

Account payable-Trade (Liability)

Paid cost of material to Smith Material Supplier

Account payable-Trade (Liability)

$
80.000,00

Cash (Expenses)
Billed client (bill #1 on Job 101)

Account receivable-Trade (Asset)

$ 290.000,00

Account receivable-Retention (Asset)

$
30.000,00

Revenue (Revenue)
Billed by National Rental Co. for renting construction equipment

Renting construction equipment (Expenses)

$
60.000,00

Account payable-Trade (Liability)

Received from client for bill #1 on Job 101

Cash (Asset)
$ 290.000,00

Account receivable-Trade (Asset)

Paid to the National Rental Co. for the bill received on 4/7/X2

Account payable-Trade (Liability)

$
60.000,00

Cash (Asset)
Paid for cost of labor

Labor (Expenses)
$ 130.000,00

Cash (Asset)
Billed by subcontractor

Subcontractor (Expenses)
$
85.000,00

Account payable-Trade (Liability)

Paid to the subcontractor for the bill receiver on 8/16/X2

Account payable-Trade (Liability)

$
75.000,00

Cash (Asset)
Billed client (bill #2 on Job 101)

Account receivable-Trade (Asset)

$ 265.000,00

Account receivable-Retention (Asset)

$
15.000,00

Revenue (Revenue)
Account receivable are collected

Cash (Asset)
$
20.000,00

Account receivable-Trade (Asset)

Received from client for bill #2 on Job 101

Cash (Asset)
$ 365.000,00

Account receivable-Trade (Asset)

Account payable are paid

Account payable-Trade (Liability)

$
85.000,00

Cash (Asset)
Paid payroll expense

Payroll (Expenses)
$ 145.000,00

Cash (Asset)
Dividends paid to stockholders

Dividends (Equity)
$
60.000,00

Cash (Asset)
Building depreciation

Depreciation (Expenses)
$
30.000,00

Depreciation (Asset)
Construction equipment depreciation

Depreciation (Expenses)
$
75.000,00

Depreciation (Asset)
Billings in excess of cost are calculated

Total bid price = $ 1,250,000

Completion project = 55%

Revenue = 55% x $ 1,250,000 = $ 687,500

Total billed client = $ 600,000 (bill #4 and #11)

Cost in excess of billing (Asset)

$
87.500,00

Cost in excess of billing (Revenue)

Total Transaction
$ 2.557.500,00

Credit

$
$

75.000,00
155.000,00

80.000,00

80.000,00

320.000,00

60.000,00

290.000,00

60.000,00

130.000,00

85.000,00

75.000,00

280.000,00

20.000,00

365.000,00

85.000,00

145.000,00

60.000,00

30.000,00

75.000,00

$
87.500,00
$ 2.557.500,00

PRITA HERDIANTI | 25013049

Tugas Rekayasa Biaya, CPM Construction Company Accounting

b. Account of Transaction

ASSETS
No.
1

Current Assets
Cash

Date
1/2/X3
3/4/X3
5/8/X3
6/7/X3
7/3/X3
9/16/X2
10/20/X3
11/15/X3
12/15/X3
12/25/X3
12/25/X3

Total Cash
2

Account receivable-Trade

3/8/X3
5/8/X3
10/1/X3
10/20/X3
11/15/X3

Total Account receivable-Trade

3

Account receivable-Retention

3/8/X3
10/1/X3

Total Account receivable-Retention

4

Costs in Excess of Billings

12/31/X3

Total Costs in Excess of Billings

No.
1

Fixed Assets
Construction Equipment

1/2/X3

Depreciation-Building

$
$

Credit

Depreciation-Construction Equipment
Total Depreciation-Construction Equipment

TOTAL ASSETS

75.000
80.000

$
$
$

60.000
130.000
75.000

$
$
$
$

85.000
145.000
60.000
710.000
(35.000)

290.000
20.000
365.000
675.000
(120.000)

20.000
365.000

$
$

675.000

290.000

$
$
290.000

265.000

$
$

555.000

$
$
$

$
$
$
$

30.000
15.000
45.000

45.000

$
$
$

87.500
87.500

87.500

Debit
$
$
$

Credit

230.000
230.000

12/30/X3
$
$

Total Depreciation-Building
3

Date

Total Construction Equipment

2

Debit

230.000

$
$

30.000
30.000
(30.000)

$
$

75.000
75.000
(75.000)

12/30/X3
$
$

$ 102.500

PRITA HERDIANTI | 25013049

Tugas Rekayasa Biaya, CPM Construction Company Accounting

LIABILITY + OWNER'S EQUITY

No.
1

Account
Account payable-Trade

Date
1/2/X3
2/4/X3
3/4/X3
4/7/X3
6/7/X3
8/16/X3
9/16/X2
12/15/X3

Total Account payable-Trade

2

Material expenses

2/4/X3

Total Material expenses

3

Renting construction equipment

4/7/X3

Total Renting construction equipment

4

Labor expenses

7/3/X3

Total Labor expenses

5

Subcontractor expenses

8/16/X3

Total Subcontractor expenses

6

Payroll expenses

12/25/X3

Total Payroll expenses

7

Dividens equity

12/25/X3

Total Dividends equity

8

Depreciation-Building expenses

12/30/X3

Total Depreciation-Building expenses

9

Depreciation-Construction Equipment
expenses

12/30/X3

Total Depreciation-Construction Equipment expenses

10

Revenues

Debit

Credit

80.000

60.000

TOTAL LIABILITY + OWNER'S EQUITY

155.000
80.000

60.000

85.000

$
$
$
$

75.000
85.000
300.000

380.000
(80.000)

$
$
$

80.000
80.000

80.000

$
$
$

60.000
60.000

60.000

$
$
$

130.000
130.000

130.000

$
$
$

85.000
85.000

85.000

$
$
$

145.000
145.000

145.000

$
$
$

60.000
60.000

60.000

$
$
$

30.000
30.000

30.000

75.000

$
$

75.000

75.000

$
$
$
$

320.000
280.000
87.500
687.500
(687.500)

3/8/X3
10/1/X3
12/31/X3

Total Revenues

$
$

$ (102.500)
PRITA HERDIANTI | 25013049

Tugas Rekayasa Biaya, CPM Construction Company Accounting

C. Close Account and Income Statement for 20X3

CPM CONSTRUCTION COMPANY

INCOME STATEMENT
(for the year ended 20X3)
Sales (Revenues)

687.500

Construction (Operating Cost)

1. Material
2. Labors
3. Subcontracts
4. Payroll
Total Construction Cost

$
$
$
$
$

80.000
130.000
85.000
145.000
440.000

Equipment Cost
1. Rent payment
2. Equipment & Building Depreciation
Total Equipment Cost

$
$
$

60.000
105.000
165.000

Total Expenses

605.000

Income
Taxes 50%

$
$

82.500
41.250

Net Income

41.250

Dividend

60.000

Retained Earnings

(18.750)

Expenses:

PRITA HERDIANTI | 25013049

Tugas Rekayasa Biaya, CPM Construction Company Accounting

d. Balance Sheet

CPM CONSTRUCTION COMPANY

BALANCE SHEET
Account

31 Desember 20X2

31 Desember 20X3

ASSETS

Cash
A/R-Trade
A/R-Retention
Buildings
Buildings Depreciation
Equipment
Equipment Depreciation
Costs in excess of billings
Other Assets

TOTAL ASSETS
LIABILITIES
Account Payable
Notes Payable
Long Term Loans
Deferred Taxes
TOTAL LIABILITIES
NET WORTH
Capital Stocks
Retained Earnings
TOTAL NET WORTH
TOTAL LIABILITIES & NET WORTH

175.000

110.000

$
$
$
$

300.000
(150.000)
240.000
(80.000)

$
$

140.000
35.000

20.000

$
$
$
$
$
$

150.000
(30.000)
160.000
(75.000)
537.500
20.000

615.000

937.500

$
$
$

85.000
50.000
100.000

165.000
50.000
100.000
315.000

235.000

$
$
$
$
$

$
$
$

290.000
90.000
380.000

$
$
$

380.000
206.250
586.250

615.000

901.250

PRITA HERDIANTI | 25013049