Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
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Category > Management Posted 10 Oct 2017 My Price 4.00

Santa Clara County

In 2013, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2015. Information related to the contract is as follows:

 

  2013 2014 2015
Cost incurred during the year $ 1,776,000   $ 3,330,000   $ 2,523,400  
Estimated costs to complete as of year-end   5,624,000     2,294,000     0  
Billings during the year   1,400,000     3,706,000     4,894,000  
Cash collections during the year   1,260,000     3,000,000     5,740,000  

Westgate uses the percentage-of-completion method of accounting for long-term construction contracts.

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Oct 2017 04:10 PM My Price 4.00

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