Construction contracted to build a bridge

Reference no: EM13121774

Dalton construction contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to construction are:

Cost incurred $1,165,000 (2010) and $1,375.000 (2011) Estim. cost to complete: $1,350,000(2010) and 0 in 2011.

Dalton uses percentage-of-completion method.

1. Make a journal entry to record construction costs for 2010

2. Make the entry to record progress billings of $1,700,000 during 2010.

3. Make the entry to record the revenue and gross profit for 2010.

Reference no: EM13121774

Questions Cloud

What mass of agcl is produced : Using the balanced equation of BaCl2 + 2AgNO3 => 2AgCl + Ba(NO3)2, answer the following questions: What mass of AgNO3, in grams, is required for complete reaction with 0.156 g of BaCl2? What mass of AgCl is produced?

Famous distribution that describes the frequency : I cannot find the famous distribution that describes the frequency of the number of times a number comes up in a series of dice rolls?

What are the actions of the muscles : What muscles are used to bend the trunk when you touch your toes and what is the action of each muscle?

Social psychology paper scenario : Social Psychology Paper Scenario, Lists the factors that contributed towards Sarah’s attitude regarding her curfew and how did these factors contribute. Explains the ways Sarah displays cognitive dissonance.

Construction contracted to build a bridge : Dalton construction contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to construction are:

What is the total pressure in the flask : A sample of He gas (V = 3.0 L) at 5.6 atm and 25 °C was combined with 4.5 L of Ne gas at 3.6 atm and 25 °C in a 9.0 L flask (which was initially evacuated).

How to assure the fidelity of dna replication : Genetic variability is beneficial for a species because it enhances its ability to adapt to changing conditions. Why then does a cell go to great lengths to assure the fidelity of DNA replication?

Probability-adult weighs less than one hundred ninety pounds : Standard deviation of 10 pounds.. Find the probability, P(W

Illustrate what would be total revenue at break-even point : In order to manufacture these coffee tables, the company would need to incur $525,000 in fixed costs for new equipment. Calculate the break-even point of the coffee tables in units sold. Illustrate what would be the total revenue at the break-even po..

User Account

All Pages