Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Sep 2017 My Price 5.00

Jiaqian Company

On July 1, 2014, Jiaqian Company entered into a contract to build an apartment building. It is estimated that the building will cost $6,000,000 and will take 3 years to complete. The contract price was $7,800,000. The following information pertains to the construction period. Instructions (a) Compute the amount of gross profit to be recognized each year, assuming the percentage-of- completion method is used. (b) Prepare all necessary journal entries for 2016. (c) Prepare a partial balance sheet for December 31, 2015, showing the balances in the receivables and inventory accounts.

 

2014

2015

2016

costs to date

2000000

4060000

6200000

Estimated costs to complete

4000000

1740000

0

progress billings to date

1200000

4800000

7800000

cash collected to date

900000

4200000

7680000

 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Sep 2017 10:09 PM My Price 5.00

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