Homework Answers
Hi, Friend...
Hope you are also doing well.
I have tried to give the best possible answer. If you have any doubts, please do mention in the comment section. I'll definitely respond in early possible time.
Thanks, Dear... Have a
Wonderful Day.
Add Answer to:
Sad Construction Company uses the percentage-of-completion method when total con- struction costs can be estimated. Sad...
1) Wind and Water Energy Company hired Smith Construction Corporation to build a new building for...
1) Wind and Water Energy Company hired Smith Construction Corporation to build a new building for its operation. Smith agreed to build the plant for $1,200,000, and Wind and Water Energy agreed to pay Smith $300,000 on January 1 and July 1 for two years, beginning July, 2006. Smith estimates that it will incur total costs of $950,000 to complete construction. The following details at December 31, 2006: Costs incurred to date $400,000 Estimated costs to complete 550,000 Billings...
Answer all three of the following problems: Wind and Water Energy Company hired Smith Construction Corporation...
Answer all three of the following problems: Wind and Water Energy Company hired Smith Construction Corporation to build a new building for its operations. Smith agreed to build the plant for $1,200,000, and Wind and Water Energy agreed to pay Smith $300,000 on January 1 and July 1 for two years, begin ning July 1, 2006. Smith estimates that it will incur total costs of $950,000 to complete con struction. The following details exist at December 31, 2006 Costs incurred...
Percentage of Completion and Completed Contact Supplement 01- Overall Profit Year 6,000,000 Costs to Date Estimated...
Percentage of Completion and Completed Contact Supplement 01- Overall Profit Year 6,000,000 Costs to Date Estimated Costs Remaining Total Estimated Costs Year 1 1,650,000 3,850,000 5,500,000 Year 2 4,130,000 1,770,000 5,900,000 6,000,000 6,600,000 6,600,000 6,600,000 Sales Price (Total Revenue) Billings to Date Collections to Date 1,320,000 1,210,000 3,300,000 3,135,000 6,600,000 6,325,000 Percentage of Completion: Completed Contract Revenue and Income Entries:
Fender period. Construction Company receives a contract to construct a building over a 3 year Information...
Fender period. Construction Company receives a contract to construct a building over a 3 year Information relating to the performance of the contract is summarized as follows: 2015 2016 2017 S 16,000,000 Cumulative construction costs incurred to date Estimated costs to complete Billings during the year Cash collected during the year 6,000,000 8,000,000 6,000,000 3,000,000 8,000,000 7,000,000 4,000,000 5,000,000 Required: 1. How much is Fender Construction charging to build this athletic stadium? In other words, what is the contract price...
Percentage complete, Cost Basis. I need help figuring out the percentages to date and percentages yearly....
Percentage complete, Cost Basis.
I need help figuring out the percentages to date and percentages
yearly. I initially did 44% but since it says round to two decimal
places I changed it to 44.44 and got different numbers. Please
help!
($ millions) $ 25.00 Expected Revenue (contract amount in millions of dollars) $ millions) Project Started 20X1 20X2 18.00 $ 20.00 $ 8.00 $ 9.50 $ 9.00 $ 10.00 $ 8.50 $ 9.50 $ Estimated Total Cost (per Engineering) Actual...
Exercise 18-36 Coronado Construction Company uses the percentage-of-completion method of accounting. In 2017, Coronado began work...
Exercise 18-36 Coronado Construction Company uses the percentage-of-completion method of accounting. In 2017, Coronado began work under contract #E2-D2, which provided for a contract price of $2,234,000. Other details follow: 2017 2018 Costs incurred during the year $615,980 $1,420,000 Estimated costs to complete, as of December 31 1,005,020 -0- Billings to date 413,000 2,234,000 Collections during the year 351,000 1,530,000 What portion of the total contract price would be recognized as revenue in 2017? In 2018? Revenue recognized in 2017...
Exercise 18-36 Marin Construction Company uses the percentage of completion method of accounting in 2017, Marin...
Exercise 18-36 Marin Construction Company uses the percentage of completion method of accounting in 2017, Marin began work under contract E2-02, which provided for a contract price of 52,195,000. Other details follow 2017 2018 Costs incurred during the year 5695,310 $1,404,000 Estimated costs to complete, as of December 31921,690 0 Billings to date 426,000 2,195,000 Collections during the year 352,000 1,475,000 What portion of the total contract price would be recognized as revenue in 2017? In 2018? Revenue recognized in...
Riverbed Construction Company uses the percentage-of-completion method of accounting. In 2017, Riverbed began work under contract...
Riverbed Construction Company uses the percentage-of-completion
method of accounting. In 2017, Riverbed began work under contract
#E2-D2, which provided for a contract price of $2,195,000. Other
details follow:
2017
2018
Costs incurred during the year
$695,310
$1,404,000
Estimated costs to complete, as of December 31
921,690
–0–
Billings to date
426,000
2,195,000
Collections during the year
352,000
1,475,000
What portion of the total contract price would be recognized as
revenue in 2017? In 2018?
Revenue recognized in 2017
$
Revenue...
On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,350,000. During 2021, costs of $2,140,000 were incurred, with estimated costs of $4,140,000 yet to be incurred. Billings of
On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,350,000. During 2021, costs of $2,140,000 were incurred, with estimated costs of $4,140,000 yet to be incurred. Billings of $2,668,000 were sent, and cash collected was $2,390,000. In 2022, costs incurred were $2,668,000 with remaining costs estimated to be $3,810,000. 2022 billings were $2,918,000, and $2,615,000 cash was collected. The project was completed in 2023 after additional costs of...
Question 10 Blossom Construction Company uses the percentage-of-completion method. During 2018, the company entered into a...
Question 10 Blossom Construction Company uses the percentage-of-completion method. During 2018, the company entered into a fixed-price contract to construct a building for Sherman Company for $22870000. The following details pertain to the contract: At December 31, 2018 At December 31, 2019 Percentage of completion 20% 55% Estimated total cost of $14065000 $17130000 contract Gross profit recognized to 2120000 3470000 date The amount of construction costs incurred during 2019 was O $6685000. O $3065000. $9421500. O $6608500.
Answer all three of the following problems: Wind and Water Energy Company hired Smith Construction Corporation to build a new building for its operations. Smith agreed to build the plant for $1,200,000, and Wind and Water Energy agreed to pay Smith $300,000 on January 1 and July 1 for two years, begin ning July 1, 2006. Smith estimates that it will incur total costs of $950,000 to complete con struction. The following details exist at December 31, 2006 Costs incurred...
Percentage of Completion and Completed Contact Supplement 01- Overall Profit Year 6,000,000 Costs to Date Estimated Costs Remaining Total Estimated Costs Year 1 1,650,000 3,850,000 5,500,000 Year 2 4,130,000 1,770,000 5,900,000 6,000,000 6,600,000 6,600,000 6,600,000 Sales Price (Total Revenue) Billings to Date Collections to Date 1,320,000 1,210,000 3,300,000 3,135,000 6,600,000 6,325,000 Percentage of Completion: Completed Contract Revenue and Income Entries:
Fender period. Construction Company receives a contract to construct a building over a 3 year Information relating to the performance of the contract is summarized as follows: 2015 2016 2017 S 16,000,000 Cumulative construction costs incurred to date Estimated costs to complete Billings during the year Cash collected during the year 6,000,000 8,000,000 6,000,000 3,000,000 8,000,000 7,000,000 4,000,000 5,000,000 Required: 1. How much is Fender Construction charging to build this athletic stadium? In other words, what is the contract price...
Percentage complete, Cost Basis.
I need help figuring out the percentages to date and percentages
yearly. I initially did 44% but since it says round to two decimal
places I changed it to 44.44 and got different numbers. Please
help!
($ millions) $ 25.00 Expected Revenue (contract amount in millions of dollars) $ millions) Project Started 20X1 20X2 18.00 $ 20.00 $ 8.00 $ 9.50 $ 9.00 $ 10.00 $ 8.50 $ 9.50 $ Estimated Total Cost (per Engineering) Actual...
Exercise 18-36 Coronado Construction Company uses the percentage-of-completion method of accounting. In 2017, Coronado began work under contract #E2-D2, which provided for a contract price of $2,234,000. Other details follow: 2017 2018 Costs incurred during the year $615,980 $1,420,000 Estimated costs to complete, as of December 31 1,005,020 -0- Billings to date 413,000 2,234,000 Collections during the year 351,000 1,530,000 What portion of the total contract price would be recognized as revenue in 2017? In 2018? Revenue recognized in 2017...
Exercise 18-36 Marin Construction Company uses the percentage of completion method of accounting in 2017, Marin began work under contract E2-02, which provided for a contract price of 52,195,000. Other details follow 2017 2018 Costs incurred during the year 5695,310 $1,404,000 Estimated costs to complete, as of December 31921,690 0 Billings to date 426,000 2,195,000 Collections during the year 352,000 1,475,000 What portion of the total contract price would be recognized as revenue in 2017? In 2018? Revenue recognized in...
Riverbed Construction Company uses the percentage-of-completion
method of accounting. In 2017, Riverbed began work under contract
#E2-D2, which provided for a contract price of $2,195,000. Other
details follow:
2017
2018
Costs incurred during the year
$695,310
$1,404,000
Estimated costs to complete, as of December 31
921,690
–0–
Billings to date
426,000
2,195,000
Collections during the year
352,000
1,475,000
What portion of the total contract price would be recognized as
revenue in 2017? In 2018?
Revenue recognized in 2017
$
Revenue...
Question 10 Blossom Construction Company uses the percentage-of-completion method. During 2018, the company entered into a fixed-price contract to construct a building for Sherman Company for $22870000. The following details pertain to the contract: At December 31, 2018 At December 31, 2019 Percentage of completion 20% 55% Estimated total cost of $14065000 $17130000 contract Gross profit recognized to 2120000 3470000 date The amount of construction costs incurred during 2019 was O $6685000. O $3065000. $9421500. O $6608500.
Most questions answered within 3 hours.
-
what would be the best entry mode in shipping from the U.S to Spain
by boat...
asked 56 seconds ago -
Under certain conditions, the substance ammonium
nitrate can be broken down to form dinitrogen
monoxide and...
asked 2 minutes ago -
1. A boy stands on one end of a boat, and then walks to the
other...
asked 12 minutes ago -
Casey is on trial under criminal allegations that she engaged in
fraudulent behavior at the company...
asked 17 minutes ago -
Surplus Styles is a manufacturer of hair care products,
including shampoos, conditioners, and hair gels. The...
asked 15 minutes ago -
Using an income-expenditure diagram, use the infinite line and
double-drop line tools to show the economy...
asked 24 minutes ago -
Which expression computes a pseudorandom integer between -10 and
10 using rand()
from cstdlib?
A. (rand(...
asked 30 minutes ago -
Roybus, Inc., a manufacturer of flash memory, just reported that
its main production facility in Taiwan...
asked 38 minutes ago -
Two capacitors connected in parallel produce an equivalent
capacitance of 45.0 μF but when connected in...
asked 47 minutes ago -
The differences between the two sets of dependent data are -1,
2,-,2, 2. Round to the...
asked 1 hour ago -
A χ2-curve, looking at the relationship between age and hours
spent working at an office per...
asked 1 hour ago -
The pH of a sample of water from a river is 5.0. A
sample of effluent from...
asked 2 hours ago