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!
Question - At the beginning of 2013, the Harding Construction Company received a contract to build an office building for $5,000,000. The project is estimated to take three years to complete. According to the contract, Harding will bill the buyer in installments over the construction period according to a prearranged schedule. Information related to the contract is as follows:
2013
2014
2015
Construction costs incurred during the year
$1,500,000
$1,260,000
$2,440,000
Estimated costs to complete at end of year
$2,250,000
$2,340,000
-0-
Billings made during the year
$1,200,000
$2,000,000
$1,800,000
Cash collections during the year
$1,000,000
$1,400,000
$2,600,000
Required -
A. Prepare the journal entries to record costs, billings, and cash receipts (not gross profit) for each year.
B. Prepare the journal entries to record gross profit for each year using the percentage of completion method.
C. Prepare the journal entries to record gross profit for each year using the completed contract method.
D. Under the percentage of completion method, what does the company report in terms of the difference between Construction in progress (CIP) and Billings in its 2014 balance sheet for this contract?
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: - Explain the goals and uses of special journals.
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.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
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, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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