Beavis construction company was the low bidder on a

Reference no: EM13599225

Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800,000. The project was begun in 2012 and completed in 2013. Cost and other data are presented below: Cost incurred during the year 2012 - $450,000 Cost incurred during the year 2013 - $1,100,000 Estimated cost to comple 2012 - $1,050,000 Estimated cost to comple 2013 - $0 Billing during the year 2012 - $400,000 Billing during the year 2013 - $1,400,000 Cash collected during the year 2012 - $300,000 Cash collected during the year 2013 - $1,500,000 Assume that Beavis uses the percentage-of-completion method for revenue recognition. Required: Compute the amount of gross profit recognized during 2012 and 2013.

Reference no: EM13599225

Questions Cloud

Comprehensive depreciation computations kohl beck : comprehensive depreciation computations kohl beck corporation a manufacturer of steel products began operations on

Dominic hunter a second-year business student at the : dominic hunter a second-year business student at the university of utah will graduate in two years with an accounting

Mccubbin corporation is considering two alternatives a and : mccubbin corporation is considering two alternatives a and b. costs associated with the alternatives are listed

Chrisjohn beet processors inc processes sugar beets in : chrisjohn beet processors inc. processes sugar beets in batches. a batch of sugar beets costs 51 to buy from farmers

Beavis construction company was the low bidder on a : beavis construction company was the low bidder on a construction project to build an earthen dam for 1800000. the

Staffing organization question 1 a staffing strategy : question 1 ltbrgt ltbrgta staffing strategy would have an organization concentrate on acquiring new employees who

Sheela dairy corporation buys unprocessed cows milk from : sheela dairy corporation buys unprocessed cows milk from local farmers. at the dairy this unprocessed milk is broken

Lori who is single purchased five-year class property for : lori who is single purchased five-year class property for 150000 and seven-year class property for 400000 on may 20

A vertically integrated company realizes profits from the : consider the following statementsi. a vertically integrated company is more dependent on its suppliers than a company

User Account

All Pages