User Account

All Pages

Calculate the revenues and expenses recognized

Assignment Help Accounting Basics
Reference no: EM132772175

On 1 April 2018, Roller Construction entered into a fixed-price contract to construct an office building for €18 million. Roller recognizes revenue as the job is performed (i.e., over time). Infor- mation related to the contract appears below.

Recognizing Revenue Over Time

December 31, 2018

Estimated Total Cost: €13,500,000

Percentage Completed: 20%

Profit Recognized to Date: €900,000

December 31, 2019

Percentage Completed: 60%

Estimated Total Cost: €14,400,000

Profit Recognized to Date: €2,160,000

Problem 1: Calculate the revenues and expenses recognized for both 2018 and 2019.

Problem 2: What impact did the €900,000 increase in estimated total cost in 2019 have on revenue recognition in that year?

Reference no: EM132772175

Questions Cloud

Describe the three types of project risk : What shape would the return distribution have for an investment with completely certain returns and completely uncertain returns?
Hierarchical enterprise network : A diagram of your proposed hierarchical enterprise network that illustrates the relationships between the access, distribution,
What journal entry would sub- way record for transaction : Suppose that in addition to the above items, the customer buys a Subway gift card for €50.00. What journal entry would Sub- way record for this transaction?
Can you really beat the market over the long haul : Are markets more efficient today rather than 20 years ago? If so, what may contribute to it?
Calculate the revenues and expenses recognized : What impact did the €900,000 increase in estimated total cost in 2019 have on revenue recognition in that year? Calculate the revenues and expenses recognized
Seven dimensions of organizational culture : Choose the top two (2) dimensions that are most important to you as an employee choosing a place of employment. Explain your reasoning for choosing each one.
Outline on educating staff : What information and topics should be included in a policy outline on educating staff? This is for a small business
Contingency planning : Contingency planning is a risk mitigation process for developing back-up plans in anticipation of events (scenarios) that might disrupt ‘business as usual'.
Audience who knows nothing about delivering values : Be creative on how you deliver your information to your audience who knows nothing about delivering values.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd