Assuming bcc used the completed contract method to

Assignment Help Accounting Basics

Reference no: EM13577819

Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2013, are presented below:

Bid price			$450,000
Contract cost:		2012	(180,000)
		2013	(195,000)
Gross profit:			75,000

Estimated cost to complete:
12/31/2012	$200,000
12/31/2013	0

Assuming BCC used the completed contract method to recognize revenue, what would gross profit have been in 2012 and 2013 (rounded to the nearest thousand)?

	2012	2013
a.	$36,000	$39,000
b.	$30,000	$45,000
c.	$70,000	$5,000
d.	$0	$75,000

Reference no: EM13577819

Questions Cloud

Joy purchased 200 shares of hilo mutual fund on july 15 : joy purchased 200 shares of hilo mutual fund on july 15 2007 for 10500 and has been reinvesting dividends. on december

Write a brief description of a real-world example in which : write a brief description of a real-world example in which one measure of central tendency provides useful information

Adria lopez is considering the purchase of equipment for : adria lopez is considering the purchase of equipment for success systems that would allow the company to add a new

Sayre sewing machine company has been in operation formore : sayre sewing machine company has been in operation formore than 25 years during this time it has shown consisting

Assuming bcc used the completed contract method to : summary data for benedict construction co.s bcc job 1227 which was completed in 2013 are presented belowbid price450000

The amount of gasoline sold daily at a service station is a : the amount of gasoline sold daily at a service station is a value of x of a random variable x that is approximately

Even though my organization has a tough time separating the : provide me half page response to each discussion post. for the discussion 1 and discussion 2 tell me what you liked

The current seventh graders at the principals school help i : help i need the answers to these questions. how soon can i get the answers and do i have to pay 20 again. ltbrgt

How would you as a researcher and public health : how would you as a researcher and public health professional convince someone who is skeptical about research results

User Account

All Pages