User Account

All Pages

Where the extent of completion can be reliably measured

Assignment Help Accounting Basics
Reference no: EM133041111

Question - Bugs Ltd has provided the following amounts for the completion of a building construction

2019 $000s 2020 $000s 2021 $000s

Costs for the year $5,000 $9,000 $5,500

Costs incurred to date $4,000 $13,000 $18,500

Estimated costs to complete $12,000 $5,000

Progress Billings $5,500 $9,500 $8,000

Cash collected $4,500 $8,500 $10,000

Contract Price $23,000

Use the percentage of completion method where the extent of completion can be reliably measured and prepare the journal entries for the three years.

Reference no: EM133041111

Questions Cloud

Describe the strategies of globalization and regionalization : 1. Describe the strategies of globalization and regionalization. 2. Explain when each strategy can be used effectively.
What is the expected rr of the peso : Argentina has an inflation rate of 30% Brazil's inflation rate of 10% Argentine central bank fixed the Brazilian Real. What is the expected Rr of the peso
Challenges in decision-making from perspective : 1. What leadership style do you most align with? What are its challenges in decision-making from your perspective?
What term is best associated with management : What term is best associated with management? 1) Practical2) Creative3) Visionary) Uncertainty
Where the extent of completion can be reliably measured : Use the percentage of completion method where the extent of completion can be reliably measured and prepare the journal entries for the three years
What is the maximum profit your portfolio can achieve : If the price of one share of LOSE stock at the end of three months is greater than its current price, what is the maximum profit your portfolio can achieve
Describe what the auditor responsibility is : If Taylor engages a valuation specialist, describe what the auditor's responsibility is if the work of the specialist will be used as audit evidence
Determine the company deferred tax balance for the year : Determine the company's deferred tax balance for the year ended December 31, 2020, showing the supporting workings
Record the journal entries for the two share transaction : The company repurchased and cancelled a further 475,000 shares at a cost of 63 per share. Record the journal entries for the two share transaction in 2021

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