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Tugas AKM III - Week 3

This document contains information about group assignments and exercises for accounting class. It lists the names of students in Group A and provides details of two brief exercises involving revenue recognition. Exercise 18.9 discusses accounting entries related to dock rentals received in advance. Exercise 18.10 contains information about accounting for a long-term construction contract over multiple years, including calculation of percentage of completion, revenue and gross profit recognized each year.

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821 views6 pages

Tugas AKM III - Week 3

This document contains information about group assignments and exercises for accounting class. It lists the names of students in Group A and provides details of two brief exercises involving revenue recognition. Exercise 18.9 discusses accounting entries related to dock rentals received in advance. Exercise 18.10 contains information about accounting for a long-term construction contract over multiple years, including calculation of percentage of completion, revenue and gross profit recognized each year.

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Rifda Amalia
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We take content rights seriously. If you suspect this is your content, claim it here.
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TUGAS AKM III WEEK 2

KELAS L

Kelompok A

1. M. Ali Imron 041711333046


2. Aubrey Fiorentia Hokgiono 041911333014
3. Salsabila Santosa 041911333027
4. Ribka Christy Julianova 041911333047
5. Rifda Amalia 041911333165
6. Rafika Alifiyah 041911333206

Brief Exercise 18.8

a) Yang akan mengakui pendapatan sebesar 1.000.000 saat pengiriman


b) Yang akan mengakui pendapatan sebesar 800.000 pada saat penjualan
c) Yang akan mengakui pendapatan bunga saat periode pembayaran, dan mengakui pendapatan sebesar 464.000 saat
penjualan.

Exercise 18.9
a. Cash (2010 slips) (300 X $800).................................... 240,000
Dock Rent Revenue................................................... 240,000
Cash (2011 slips) [200 X $800 X (1.00 – .05)].............. 152,000
Unearned Service Revenue (current).................. 152,000
Cash (2012 slips) [60 X $800 X (1.00 – .20)]................ 38,400
Unearned Service Revenue (non-current).......... 38,400
b. The marina operator should recognize that advance rentals generated $190,400 ($152,000 + $38,400) of cash in
exchange for the marina’s promise to deliver future services. In effect, this has reduced future cash flow by
accelerating payments from boat owners. The current cash bonanza does not reflect current earned income. The
future costs of operation must be covered, in part, from this accelerated cash inflow. On a present value basis, the
granting of these discounts seems ill-advised unless interest rates were to skyrocket so that the interest earned
would offset the discounts provided.
Exercise 18.10
(a) Gross profit recognized in:

2010 2011 2012

Contract price $1,600,000 $1,600,000 $1,600,000


Costs:
Costs to date $400,000 $825,000 $1,070,000
Estimated
costs to
complete 600,000 1,000,000 275,000 1,100,000 0 1,070,000

profit 600,000 500,000 530,000


Percentage
completed to 40%* 75%** 100%
Total estimated
date
Total gross profit
recognized 240,000 375,000 530,000
Less: Gross
profit recognized
in previous years 0 240,000 375,000
Gross profit
recognized in
current year $ 240,000 $ 135,000 $ 155,000

(b) Construction in Process ($825,000 – $400,000).... 425,000


Materials, Cash, Payables, etc. ......................... 425,000

Accounts Receivable ($900,000 – $300,000)......... 600,000 600,000


Billings on Construction in Process..............

Cash ($810,000 – $270,000) .................................... 540,000 540,000


Accounts Receivable ......................................

Construction Expenses .......................................... 425,000


Construction in Process......................................... 135,000
Revenue from Long-Term Contracts ............. 560,000*
*$1,600,000 X (75% – 40%)

(c) Gross profit recognized in:


2010 2011 2012
Gross profit $–0– ($400,000 $–0– $530,000
– ($825,000 – ($1,600,000 –
$400,000) $825,000) $1,070,000)
*$400,000 ÷ $1,000,000
**$825,000 ÷ $1,100,000
➢ Financial Reporting Problem – Marks and Spencer plc (M&S)
a. 2019 Revenue = £10,377.3 million

b. M&S’s revenues decreased from £10,698.2 million to £10,377.3 million from 2018 to
2019, or 3% decrease.

c. M&S‘s revenue comprises sales of goods to customers outside the company less an
appropriate deduction for actual and expected returns, discounts and loyalty scheme
voucher costs, and is stated net of Value Added Tax and other sales taxes. Sales of
furniture and online sales are recorded on delivery to the customer.

d. Revenues are recorded with a deduction for expected discounts and loyalty scheme
vouchers. Thus, M&S, by establishing allowances for expected returns, is following
accrual accounting principles.

➢ Using Judgement
Comparative Analysis Case (Adidas and Puma)
a. What were Adidas’s and Puma’s net revenues (sales) for the year 2015? Which company
increased its revenues more (amounts and percentage) from 2014 to 2015?
– Adidas
Pada tahun 2018, Adidas melaporkan net sales sebesar $21,915 million. Dari tahun 2017
sampai tahun 2018 pendapatan Adidas bertambah sebesar $697 million atau 3.3%.
– Puma
Pada tahun 2018 Puma melaporkan sales sebesar $4,648.3 million. Dari tahun 2017
sampai tahun 2018 pendapatan Puma bertambah sebesar $512.4 million atau 12.4%.
Dari data tersebut, maka perusahaan Puma meningkatkan pendapatannya lebih banyak
dibandingkan Adidas yaitu sebesar 12.4%.
b. Are the revenue recognition policies of adidas and Puma similar? Explain
– Adidas
Pendapatan yang diperoleh dari penjualan barang diakui pada saat adidas telah memenuhi
kewajibannya dengan mengalihkan barang yang dijanjikan kepada pelanggan. Barang ditransfer
pada saat pelanggan memperoleh kendali atas barang masing-masing dan tergantung pada
persyaratan perjanjian penjualan. Jumlah pendapatan yang dapat diakui diukur pada nilai wajar
(fair value) imbalan yang diterima atau piutang, pengembalian, diskon pembayaran awal, dan
rabat.
– Puma
Pendapatan dari penjualan produk (sales revenues) diakui pada saat pengalihan yang
terkait dengan kepemilikan barang dan produk yang dijual kepada pembeli dan Puma
mendapatkan manfaat ekonomi dari penjualan. Jumlah pendapatan penjualan yang diakui
didasarkan pada nilai wajar (fair value) imbalan yang diterima atau akan diterima, pengembalian,
diskon dan rabat.
Jadi, kebijakan antara perusahaan adidas dan Puma adalah sama.

c. In wich foreign countries (geographic areas) did adidas (see Note) and Puma experience
significant revenues in 2015?
– Adidas
Di tahun 2018, Adidas memperoleh
pendapatan yang signifikan di Asia-
Pacific sebesar $7,141 million.

– Puma
Pada tahun 2018, Puma memperoleh pendapatan yang signifikan di Europe, the Middle
East and Africa (EMEA) yaitu sebesar $1,800.3 million. Sedangkan pendapatan di America
sebesar $1,612.5 million dan di Asia/Pacific sebesar $1,235.5 million.

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