Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
In 2013, Long Construction Corporation began construction work under a three year contract. The contract price is $1,600,000. Long uses the percentage of completion method for financial reporting purposes. The financial statement presentation relating to this contract at December 31, 2013, is as follows:
Balance SheetAccounts receivable (from construction progress billings)..........$30,000Construction in progress .........$100,000Less: Billings on construction contract .. (94,000)Cost of uncompleted contracts in excess of billings............6,000Income StatementIncome (before tax) on the contract recognized in 2013.........$20,000
Required:1. What was the cost of construction actually incurred in 2013?2. How much cash was collected in 2013 on this contract?3. What was the estimated cost to complete as of the end of 2013?4. What was the estimated percentage of completion used to calculate income in 2013?
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd