User Account

All Pages

Prepare pronghorn journal entry to record profit or loss

Assignment Help Accounting Basics
Reference no: EM131603190

Question - Pronghorn Construction Company began work on a $419,400 construction contract in 2017. During 2017, Pronghorn incurred costs of $280,200, billed its customer for $216,300, and collected $174,500. At December 31, 2017, the estimated additional costs to complete the project total $161,600.

Prepare Pronghorn's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method.

Reference no: EM131603190

Questions Cloud

What is the handbag direct material price variance : Last year, Vera Corporation budgeted for production and sales 20,000 cloth handbags. What is the handbag's direct material price variance
What is its enterprise value : Victoria Enterprises expects earnings before interest and taxes (EBIT) next year of $1.7 million. what is its enterprise value?
What is the difference between swap and derivative : What is the difference between a swap and a derivative?
Find the manufacturing overhead budget for the same period : Ash Company manufacturers telephone handsets under various brand names. A manufacturing overhead budget for the same period
Prepare pronghorn journal entry to record profit or loss : Prepare Pronghorn's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method
Compare the views of management and accountants : Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on internal controls
Balance of payments-exchange rate-foreign reserve holdings : Document the trend in Mexico's key economic indicators, such as the balance of payments, the exchange rate, and foreign reserve holdings,
Compute the total labor variance : Lewis Company's standard labor cost of producing one unit of product DD is 4 hour at the rate of $12.00 per hour. Compute the total labor variance
What macrs convention applies to the new car : On May 15, 2015, Leo purchased and placed in service a new car that cost $27,000. What MACRS convention applies to the new car

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