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!
1. Gross Profit on Uncompleted Contract On April 1, 2010, Dougherty Inc. entered into a cost-plus- fixed-fee contract to construct an electric generator for Altom Corporation. At the contract date, Dougherty estimated that it would take 2 years to complete the project at a cost of $2,000,000. The fixed fee stipulated in the contract is $450,000. Dougherty appropriately accounts for this contract under the percentage-of-completion method. During 2010 Dougherty incurred costs of $800,000 related to the project. The estimated cost at December 31, 2010, to complete the contract is $1,200,000. Altom was billed $600,000 under the contract.
Prepare a schedule to compute the amount of gross profit to be recognized by Dougherty under the contract for the year ended December 31, 2010. Show supporting computations in good form (AICPA adapted)
the sanding department of han furniture company has the following production and manufacturing cost data for april
one of the items that is sometimes overlooked in incremental analysis is opportunity costs. discuss how they can be
budgets need to be fair and attainable for employees to consider the budget important in their normal daily activities.
A company purchases a $100,000, 10-year bond on January 1, 19X1 at 107. After 5 years, it sells the bond at 102. Prepare the entry for the sale.
hurst mats manufactures custom replacement floor mats for automobiles. the floor mats are made of spun nylon on highly
Sylvestor Systems borrows $ 110,000 cash on May 15, 2013, by signing a 60 day, 12% note.
Prepare Mountains perpetual inventory record - Perpetual inventory record-FIFO Mountain Cycles uses the FIFO inventory method.
Caine Bottling Corporation is considering the purchase of a new bottling machine. The machine would cost $200,000 and has an estimated useful life of years with zero salvage value.
ab and c are partners with capital balances of 50000 30000 and 20000 and who share in the profit and loss of the abc
Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. It is important to have the right mix of policies and that..
Your paper should comment on the financial statements for your company as they relate to the information presented of your textbook, including the notes to the financial statements.
The amount of unrealized intercompany profit in ending inventory at December 31, 2006 that should be eliminated in the consolidation process is:
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