Maurice Tutor

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    Argosy University/ Phoniex University/
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    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 9.00

Brady Construction Company

Brady Construction Company contracted to build an apartment complex for a price of $7,000,000. Construction began in 2016 and was completed in 2018. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars.

              Estimated Costs to Complete
 

Costs Incurred During Year

(As of the End of the Year)

Situation

2016

2017

2018

2016

2017

2018
1 1,700   2,730   1,500   4,230   1,500   Ac€??  
2 1,700   1,500   3,200   4,230   3,200   Ac€??  
3 1,700   2,730   3,200   4,230   3,100   Ac€??  
4 700   3,200   1,400   4,900   975   Ac€??  
5 700   3,200   2,700   4,900   3,100   Ac€??  
6 700   3,200   3,800   6,555   3,500   Ac€??
Required:

Complete the following table. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.)

                                                         Gross Profit (Loss) Recognized

                     Percentage of Completion                         Completed Contract

Situation    2016       2017        2018                         2016            2017          2018

1

2

3

4

5

6

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 03:08 PM My Price 9.00

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