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 - United Inc. which has a calendar year end, entered into a non-cancellable fixed priced contract of $7,500,000 beginning January 1, 2019, to build a parking complex. It has been estimated that the parking complex will be complete by September 30, 2021. The following data pertains to the construction period:
2019
2020
2021
Costs during the year
$3,200,000
$2,700,000
$1,700,000
Estimated costs to complete
$3,300,000
$1,000,000
$0
Progress Billings
$2,750,000
$2,050,000
Required -
1. Determine the revenue and profit/loss that should be recorded on this contract in 2020. Prepare the journal entry.
2. What is the balance in the CIP and the billings accounts by the end of 2020? How will they be presented in the balance sheet?
3. Prepare the journal entries to record the revenue and profit/loss in 2021.
4. Assume the company cannot measure its progress and has to use the completed contact method. Prepare the journal entries.
submit an essay on legal issues surrounding solyndra the california based solar panel manufacturer. you need to
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method
In October 2002, the FASB and the International Accounting Standard Board (IASB) announced the issuance of a memorandum of understanding ("Norwalk Agreement").
Question - Make the journal entries to record the following transactions for Tony's Truck Rental in January 2019. Narrations are required
Del-Ware Gap Company: Income Statement (for the Year Ended December 31, 2008) What is the company's break-even point in units
The company had an overall ROI of 24% last year. Division A used an investment of P6,000,000 at the start of the year. Compute Division A ROI for last year
If grandma makes the deposit on your 25th birthday and you are able to withdraw $53,319.65, how much did grandma deposit each year?
What does the case teach us about how we weigh various metrics of valuation to arrive at a value for the non-publicly listed company.
Prepare all journal entries necessary to record the declaration and payment of dividends
Patty's Pets had good second quarter (April, May, June) and will receive a check for 3% of their purchases in July. How does Paty Pets account for this receipt
Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles
Quest's return on investment was: (Calculate ROI based on Operating Income.)
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