User Account

All Pages

Compute the gross profit or loss recognition

Assignment Help Accounting Basics
Reference no: EM131702674

Question - Pedone construction company began work on a contract in 2016. The contract price is $2,000,000, and the company determined that its performance obligation was satisfied over time. Other information relating to the contract is as follows:

costs incurred during 2016 $500,000 and $600,000 in 2017

estimated costs to complete, December 31 1,300,000 in 2016 and 1,100,000 in 2017

billings during the year are 400,000 in 2016 and 750,000 in 2017

Required - Compute the gross profit or loss recognition in 2016 and 2017.

Reference no: EM131702674

Questions Cloud

Determine the eoq and total annual inventory holding cost : Determine the EOQ and the total annual inventory holding cost.
Create a web application with secured login feature : Create a web application with secured login feature. The website should allow users to login, browse through products and perform data manipulations operations.
Discuss the major differences found in the very largest : Discuss the major differences found in the very largest commercial banks that are not found in the smaller ones.
Analyze the price-setting process : Analyze the price-setting process and select the areas of the price-setting process that you believe to be the most important.
Compute the gross profit or loss recognition : Pedone construction company began work on a contract in 2016. Compute the gross profit or loss recognition in 2016 and 2017
Major differences between retailing and wholesaling : What are the major differences between retailing and wholesaling?
Calculate the payback period the npv and the irr : The new clubs will also require an increase in net working capital of $2,100,000 that will be returned at the end of the project. The tax rate is 40 percent
Assess the challenges of developing pricin : Assess the challenges of developing pricing over a product's life cycle and suggest ways those challenges may be addressed.
Developed to meet the design intent-customer expectations : Propose a tiered process that can be used to assure that a product will be developed to meet the design intent and customer expectations.

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