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Problem 189 Pina Construction Company has need to complex will be bailed to the purchasing cm...
Sheffield Construction Company has entered into a contract beginning January 1, 2012, to build a parking complex. I...
Sheffield Construction Company has entered into a contract beginning January 1, 2012, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $902,000. The following data pertain to the construction period. 2019 $608,000 Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $294,000 306,000 268,000 238,000 2018 $432,000 168,000 547,000 497,000...
Problem 18-9 Sheridan Construction Company has entered into a contract beginning January 1, 2017, to build...
Problem 18-9 Sheridan Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $598,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $897,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $263,120 334,880 273,000 2018 $460,460 137,540 556,000 506,000 2019...
Cheyenne Construction Company has entered into a contract beginning January 1, 2017, to build a parking...
Cheyenne Construction Company has entered into a contract
beginning January 1, 2017, to build a parking complex. It has been
estimated that the complex will cost $596,000 and will take 3 years
to construct. The complex will be billed to the purchasing company
at $895,000. The following data pertain to the construction
period.
2017
2018
2019
Costs to date
$268,200
$482,760
$605,000
Estimated costs to
complete
327,800
113,240
–0–
Progress billings to
date
267,000
552,000
895,000
Cash collected to date...
Ayayai Construction Company has entered into a contract beginning January 1, 2017, to build a parking...
Ayayai Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $901,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $246,000 354,000 270,000 240,000 2018 $432,000 168,000 546,000 496,000 2019 $612,000...
Swifty Construction Company has entered into a contract beginning January 1, 2017, to build a parking...
Swifty Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $606,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $896,000. The following data pertain to the construction period. 2019 Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $266,640 339,360 270,000 240,000 2018 $412,080 193,920 545,000 495,000 $617,000...
Shanahan Construction Company has entered into a contract beginning January 1, 2017, to build a parking...
Shanahan Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It is estimated that the complex will take 3 years to construct. Additional information follows. Estimated cost of complex Contract price AA 600,000 900,000 The following data pertain to the construction period. 2019 610,000 $ 6100 A 2017 270,000 330,000 270,000 240,000 2018 450,000 150,000 550,000 500,000 Costs to date Estimated costs to complete Progress billings to date Cash collected to date $...
Problem 18-09 Shamrock Construction Company has entered into a contract beginning January 1, 2020, to build...
Problem 18-09
Shamrock Construction Company has entered into a contract
beginning January 1, 2020, to build a parking complex. It has been
estimated that the complex will cost $601,000 and will take 3 years
to construct. The complex will be billed to the purchasing company
at $903,000. The following data pertain to the construction
period.
2020
2021
2022
Costs to date
$270,450
$492,820
$613,000
Estimated costs to complete
330,550
108,180
–0–
Progress billings to date
273,000
550,000
903,000
Cash collected...
During 2017, Cullumber Company started a construction job with a contract price of $1,610,000. The job...
During 2017, Cullumber Company started a construction job with a contract price of $1,610,000. The job was completed in 2019. The following information is available. 2017 2018 2019 Costs incurred to date $434,300 $859,560 $1,073,000 Estimated costs to complete 575,700 242,440 -0- 1,610,000 Billings to date 301.000 897,000 271,000 1428,000 Collections to date 817,000 Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used $ Gross profit recognized in 2017 $ Gross profit...
During 2017, Pearl Company started a construction job with a contract price of $1,610,000. The job...
During 2017, Pearl Company started a construction job with a
contract price of $1,610,000. The job was completed in 2019. The
following information is available.
2017
2018
2019
Costs incurred to date
$434,300
$859,560
$1,073,000
Estimated costs to complete
575,700
242,440
–0–
Billings to date
301,000
897,000
1,610,000
Collections to date
271,000
817,000
1,428,000
A) Compute the amount of gross profit to be recognized each
year, assuming the percentage-of-completion method is used.
Gross profit recognized in 2017 $ 258,000
Gross...
Problem 18-09 Sweet Construction Company has entered into a contract beginning January 1, 2020, to build...
Problem 18-09 Sweet Construction Company has entered into a contract beginning January 1, 2020, to build a parking complex. It has been estimated that the complex will cost $605,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $909,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2020 $254,100 350,900 272,000 242,000 2021 $496,100 108,900 550,000 500,000...
Sheffield Construction Company has entered into a contract beginning January 1, 2012, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $902,000. The following data pertain to the construction period. 2019 $608,000 Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $294,000 306,000 268,000 238,000 2018 $432,000 168,000 547,000 497,000...
Problem 18-9 Sheridan Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $598,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $897,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $263,120 334,880 273,000 2018 $460,460 137,540 556,000 506,000 2019...
Cheyenne Construction Company has entered into a contract
beginning January 1, 2017, to build a parking complex. It has been
estimated that the complex will cost $596,000 and will take 3 years
to construct. The complex will be billed to the purchasing company
at $895,000. The following data pertain to the construction
period.
2017
2018
2019
Costs to date
$268,200
$482,760
$605,000
Estimated costs to
complete
327,800
113,240
–0–
Progress billings to
date
267,000
552,000
895,000
Cash collected to date...
Ayayai Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $901,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $246,000 354,000 270,000 240,000 2018 $432,000 168,000 546,000 496,000 2019 $612,000...
Swifty Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $606,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $896,000. The following data pertain to the construction period. 2019 Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $266,640 339,360 270,000 240,000 2018 $412,080 193,920 545,000 495,000 $617,000...
Shanahan Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It is estimated that the complex will take 3 years to construct. Additional information follows. Estimated cost of complex Contract price AA 600,000 900,000 The following data pertain to the construction period. 2019 610,000 $ 6100 A 2017 270,000 330,000 270,000 240,000 2018 450,000 150,000 550,000 500,000 Costs to date Estimated costs to complete Progress billings to date Cash collected to date $...
Problem 18-09
Shamrock Construction Company has entered into a contract
beginning January 1, 2020, to build a parking complex. It has been
estimated that the complex will cost $601,000 and will take 3 years
to construct. The complex will be billed to the purchasing company
at $903,000. The following data pertain to the construction
period.
2020
2021
2022
Costs to date
$270,450
$492,820
$613,000
Estimated costs to complete
330,550
108,180
–0–
Progress billings to date
273,000
550,000
903,000
Cash collected...
During 2017, Cullumber Company started a construction job with a contract price of $1,610,000. The job was completed in 2019. The following information is available. 2017 2018 2019 Costs incurred to date $434,300 $859,560 $1,073,000 Estimated costs to complete 575,700 242,440 -0- 1,610,000 Billings to date 301.000 897,000 271,000 1428,000 Collections to date 817,000 Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used $ Gross profit recognized in 2017 $ Gross profit...
During 2017, Pearl Company started a construction job with a
contract price of $1,610,000. The job was completed in 2019. The
following information is available.
2017
2018
2019
Costs incurred to date
$434,300
$859,560
$1,073,000
Estimated costs to complete
575,700
242,440
–0–
Billings to date
301,000
897,000
1,610,000
Collections to date
271,000
817,000
1,428,000
A) Compute the amount of gross profit to be recognized each
year, assuming the percentage-of-completion method is used.
Gross profit recognized in 2017 $ 258,000
Gross...
Problem 18-09 Sweet Construction Company has entered into a contract beginning January 1, 2020, to build a parking complex. It has been estimated that the complex will cost $605,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $909,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2020 $254,100 350,900 272,000 242,000 2021 $496,100 108,900 550,000 500,000...
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