Solution-What a partial balance sheet would look

What a partial balance sheet would look

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Reference no: EM13513373

The following information relates to a long-term construction project of the Feldbrand Corporation:

	19a	19B	19C	Total
Construction costs	$50,000	$70,000	$ 80,000	$200,000
Billings	40,000	90,000	120,000	250,000
Cash collections	40,000	80,000	130,000	250,000
Estimated completion costs as of year-end	140,000	80,000	-	-

Assume a contract price of $250,000. Prepare the journal entries and show what a partial balance sheet would look like for each year, under the completed-contract method.

Reference no: EM13513373

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What a partial balance sheet would look

Reference no: EM13513373

Reference no: EM13513373

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