BnD Construction Co. successfully tendered for a 3-year contract to erect some warehousefacilities in Gros Islet. The following information has been provided.Time left 2:20:2Contract price - $25 000 0002021$ 4 000 000Cast during yearEstimated cost to completeProgress billings to dateCash collected to dateCast to dateEstimated cost to completeTotal estimated costPercentage complete (Roundto nearest whole number)Total contract priceTotal estimated casti Complete the following Workings Schedule. Do not enter negative values in theschedule.Estimated gross profit or lossRevenue to recognize to dateLess Revenue previouslyrecognizedRevenue to recognize in yearEstimated gross profittorecognize to date16 000 0004 500 0004 200 000Less Gross profit or lasspreviously recognized20222021$8 000 0008050 00011 500 00011 000 00020232022$8 100 000025 000 00025 000 0002023%

Methods that can be used to measure an entity’s progress towards complete satisfaction of a…

facilities in Gros Islet. The following information has been provided. Contract price-$25 000 000 Cast during year Estimated cost to complete Progress billings to date Cash collected to date 2021 $ 4 000 000 16 000 000 4 500 000 4 200 000 2022 $8 000 000 8 050 000 11 500 000 11 000 000 Time left 2:20:2 2023 $8 100 000 0 25 000 000 25 000 000 i Complete the following Workings Schedule. Do not enter negative values in the

facilities in Gros Islet. The following information has been provided. Contract price-$25 000 000 Cast during year Estimated cost to complete Progress billings to date Cash collected to date 2021 $ 4 000 000 16 000 000 4 500 000 4 200 000 2022 $8 000 000 8 050 000 11 500 000 11 000 000 Time left 2:20:2 2023 $8 100 000 0 25 000 000 25 000 000 i Complete the following Workings Schedule. Do not enter negative values in the

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 4P: Halpern Companys controller prepared the following income statement and balance sheet at the end of...

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