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Question - CHING CORP. uses the cost to cost method to account for its construction contracts. The contract price of the project is P 1,800,000. CHING CORP. estimates that it will take 36 months to complete the contract. The following information for its construction contract is presented below: Costs incurred to date (2021) - P 400,000, (2022) - P 1,260,000, (2023) - ? ; Realized gross profit for the current year (2021) - P 50,000, (2022) - P 310,000, (2023) - P 80,000.
a. What is the percentage of completion rate in year 2021?
b. What is the total estimated cost to complete in 2023?
c. What is the percentage of completion rate in year 2022?
d. What is the estimated cost to complete in year 2021?
Prepare the adjusting entries at December 31 to record amortization required by the events. These are selected 2022 transactions.
Does the test show enough evidence to reject the findings of Robert Half International? Use a = .05. State both the null and the alternative hypotheses
Minor Company is authorized to sell 1,200,000, Prepare the stockholders' equity section of Minor's balance sheet to reflect the transactions you have recorded.
What O capital balance after recording the withdrawal of E is? Capital balances in the LOVE Partnership are L's capital P500,000, O's capital P400,000
Prepare the journal entries to establish the petty cash fund, to reimburse it on January 22, and to increase the fund in June.
Jay Patel is planning to open a pizza restraunt ne... Jay Patel is planning to open a pizza restraunt next month in Flora, Alabama. He plans to sell his large pizzas for a base price of $18 plus $2 for each topping selected. When asked how he arrived..
NPV of R15 million associated with it. What would the Real NPV of the project be; and should the company accept the project given this real option?
April, June, and Janet started a partnership on Jan 1, 2015 (AJUJA ENTERPRISES). April contributed cash of $60,000 for 20% equity interest. June contributed cash of $40,000 and equipment with a market value of $80,000 for 40% equity interest
The administrative expenses were $4,370, depreciation was $812, dividends paid were $285, and the interest expense was $103. What was the cost of goods sold?
Calculate the income effect, the share effect and the incremental EPS, and indicate the rank ordering of each dilutive potential common share (PCS).
Explain advantages and disadvantages of buying a home compared to renting. What are some of the key issues a first-time homebuyer should consider?
What The number of shares to be used in computing earnings per common share for 2021 is. January 1, 2021Shares outstanding
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