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!
On June 15, 2011 Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington DC for $220 million. The expected completion date is April 1 of 2013, just in time for the baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):Costs incurred during the year 40 80 50.Estimated costs to complete as of 12/31 120 60
Required:1. Determine the amount of gross profit or loss to be recognized in each of the 3 years using the percentage-of-completion method.
2. How much revenue will Sanderson report in its 2011 & 2012 income statements related to this contract using the percentage-of-completion method?
3. Determine the amount of gross profit or loss to be recognized in each of the 3 years using the completed contract method.
4. Determine the amount of revenue, cost, and gross profit or loss to be recognized in each of the three years under IFRS, assuming that using the percentage-of-completion method is not appropriate.
5. Suppose the estimated costs to complete at the end of 2012 are $80 million instead of $60 million. Determine the amount of gross profit or loss to be recognized in 2012 using the percentage-of completion method.
in the current year mikes agi is 50000. mike has no miscellaneous itemized deductions other than the employment-related
data pertaining to a companys joint manufacturing process for the current period follows product a quantities produced
depreciation for partial periodslightning delivery company purchased a new delivery truck for 45000 on april 1 2013.
wally warble makes wall units. for the year the details have been budgeted output is 10000 units and factory overhead
describe how the property plant and equipment for walmart is presented on the balance sheet for 2014 10k. find the note
pizza pizazz is a local restaurant. price and cost information follows price per pizza 13.01 variable cost per pizza
the pizza company makes two types of frozen pizzas pepperoni and cheese. the pizza company allocates overhead to these
What is designated market value?
eric and denise are partners in ed partnership. eric owns a 60 capital profits and loss interest. denise owns the
1.capital gains to stockholders neither enter into the calculation of the value of the firm nor the value of the common
The value of an investment that is calculated discounting future cash flows from the investment at an interest rate that gives a satisfactory return on investment and then subtracting the present cost of the present cost of the investment is known..
a person wanted to withdraw x rupees and y paise from the bank. but cashier made a mistake and gave him y rupees and x
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