User Account

All Pages

Compute the amount of gross profit to recognized each year

Assignment Help Accounting Basics
Reference no: EM131932376

Question - During 2017, Pearl Company started a construction job with a contract price of $1,580,000. The job was completed in 2019. The following information is available.

2017 2018 2019

Costs incurred to date $404,000 - $853,160 - $1,073,000

Estimated costs to complete 606,000 - 254,840 -0-

Billings to date 301,000 - 904,000 - 1,580,000

Collections to date 271,000 - 812,000 - 1,418,000

Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

Gross profit recognized in 2017

Gross profit recognized in 2018

Gross profit recognized in 2019

Reference no: EM131932376

Questions Cloud

What is the total amount paid to bondholders : The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2018, what is the total amount paid to bondholders
Find the critical value of t : a) Find the critical value of t for a 90% confidence interval with df = 30. t= ___ (Round to two decimal places as needed.)
How will consciousness affect the ways to dispense media : Consider how this course has made you more conscious of the message, medium, and modes through which you absorb mass communication.
Estimate the values asked for in parts : Use the t tables, software, or a calculator to estimate the values asked for in parts (a) and (b) below.
Compute the amount of gross profit to recognized each year : Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used
Determine the point estimate of the population mean : Determine the point estimate of the population mean and margin of error for the confidence interval.
How global education differ from multicultural education : How does global education differ from multicultural education in both purpose and form? Explain global education and give a summary of what paper will be about.
Calculate the prospective inflation free irr for machine : Calculate the prospective inflation free IRR (io) for this machine if it is kept for three more years.
Create the bank reconciliation for july : High Tech Company of New York has provided you with the following cash account information for the month. Create the bank reconciliation for July 2011

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