User Account

All Pages

Prepare Kingbird journal entries

Assignment Help Accounting Basics
Reference no: EM132576336

Question - Kingbird Inc., began work on a $7,500,000, non-cancellable contract in 2020 to construct an office building. During 2020, Kingbird Inc. incurred costs of $1,040,000, billed its customers for $1,100,000 (non-refundable), and collected $800,000. At December 31, 2020, the estimated future costs to complete the project totalled $2,960,000.

Required - Prepare Kingbird's 2020 journal entries using the percentage-of-completion method.

Reference no: EM132576336

Questions Cloud

Calculate project payback period : Calculate each project's payback period, net present value (NPV), internal rate of return (IRR), and profitability index (PI).
Explain the role of inflation in cash flows : Explain the role of inflation in cash flows. Focus specifically on the impact of inflation on the cash flows of a project investment
What is relational model : What is a relational Model? What is a Primary Key?
Discuss all of the deviance theories : From all of the deviance theories discussed in the text and in the videos, which one do you think explains most effectively the existence of deviance in society
Prepare Kingbird journal entries : Kingbird Inc., began work on a $7,500,000, non-cancellable contract in 2020 to construct an office building. Prepare Kingbird journal entries
Find a test to assess and intelligence : Find a test to assess, intelligence or education, find a similar alternative test for administration with an individual who may be blind, deaf, or nonverbal.
Which aspect of the story is closest to your own experience : Which aspect of the story is closest to your own experience of racial or ethnic identity? Which aspect of the story is furthest away from your own experience.
Phenomenological research designs : Consider what you have learned about the case study and phenomenological research designs.
Compute how many boxes of candy must Candyman sell : Candyman Company expects that all other costs will remain at the same rates or levels as the current year. Compute how many boxes of candy must Candyman sell

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd