Concept of percentage-of-completion method

Reference no: EM13151569

Eilert Construction Company had a contract starting April 2011, to construct a $15,000,000 building that is expected to be completed in September 2012, at an estimated cost of $13,750,000. At the end of 2011, the costs to date were $6,325,000 and the estimated total costs to complete had not changed. The progress billings during 2011 were $3,000,000 and the cash collected during 2011 was $2,000,000. Eilert uses the percentage-of-completion method.

At December 31, 2011, Eilert would report Construction in Process in the amount of

a) $5,900,000.

b) $6,325,000.

c) $575,000.

d) $6,900,000.

Reference no: EM13151569

Questions Cloud

Explain what was the approximate mass of the methane : If the total mass of H2O produced is 22.0 grams, what was the approximate mass of the methane in the original mixture?

What''s the mole percent of o2 in the mixture : A gasous mixture of O2 and Kr has a density of 1.104 grams per liter at 435 torr and 300 K. What's the mole percent of O2 in the mixture?

Gradient of q : Find the gradient of Q b. Find the Hessian of Q c. Denote the initial K = 10,000

Calculate the cross-price elasticity : Panel B shows how the demand for X shifts when the price of related good Y increases from $60 to $68. Use the information in Panel B to calculate the cross-price elasticity. Are goods X and Y substitutes or complements?

Concept of percentage-of-completion method : At the end of 2011, the costs to date were $6,325,000 and the estimated total costs to complete had not changed. The progress billings during 2011 were $3,000,000 and the cash collected during 2011 was $2,000,000. Eilert uses the percentage-of-co..

Probability that week-s show have thirty seven viewers : The number of viewers of American Idol has a mean of 33 million with a standard deviation of 10 million. What is the probability that next week's show will: Have between 37 and 44 million viewers?

What is the map distance between white and diminutive : White eye (w) female Drosophila are crossed with diminutive (dm) males. The F1 wild type females are then crossed to the double mutant, white eye, dimunutive males and produce the following.

Write a tax mamo about countess aether : Countess Aether, now a California resident, owns a 60% interest in the Gore General Partnership which only does business in California.

Explain how many molecules an ideal gas at stp : How many molecules are in 22.41 L of an ideal gas at STP? Remember the answer is supposed to be in molecules

User Account

All Pages