User Account

All Pages

Compute the amount of gross profit recognized

Assignment Help Accounting Basics
Reference no: EM131870526

Question - Alpha Great Construction was the best selection to build the Stoddard Temple for the amount of $2,500,000. The project broke ground in 2010 and was then completed in 2011. Below the cost and other data are shown below:

Year 2010 2011

Cost incurred during the year $555000 1200000

Estimated cost to complete $1500000 0

Billing during the year $450000 1500000

Cash collections during the year $350000 1400000

Alpha Great Construction is using the percentage of completion method to recognize revenue:

Compute the amount of gross profit recognized in 2010 and 2011.

Reference no: EM131870526

Questions Cloud

Programmers to nest the loop : Suggest the deepest level (e.g., 2, 3, 4, 5, etc.) for programmers to nest the loop. Provide a rationale to support your response.
Prepare the investor journal entry for sale of the shares : Prepare the journal entry. Assume only the 700,000 shares from requirement 1 are outstanding. Prepare the investor’s journal entry for the sale of the shares.
Determine the flow rate in the system with the pump selected : Determine the flow rate in the system with the pump you selected. What is the total head that the pump adds to the system (water horsepower)?
Determining the social networking app : In a Java program, some programmers might argue that when it comes to storing names, addresses, phone numbers, and so on, string objects
Compute the amount of gross profit recognized : Alpha Great Construction is using the percentage of completion method to recognize revenue: Compute the amount of gross profit recognized in 2010 and 2011
Main types of events displayed by system and application log : Describe the three main types of events displayed by system and application logs. Please provide details from your knowledge/research.
Difference between purchase price and the selling price : The latter case finds the difference between the purchase price and the selling price. If the difference is negative (in minus) the text prints:
Impact on the effectiveness of organisations and programming : Critically assess the roles played by key governance and development institutions within development contexts - Critically examine and research
Determine the difficulties of developing principles : Determine the difficulties of developing principles that are appropriate for governments within different categories as well as best way to address difficulties

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