What a partial balance sheet would look

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Reference no: EM13513373

The following information relates to a long-term construction project of the Feldbrand Corporation:


19a

19B

19C

Total

Construction costs

$50,000

$70,000

$ 80,000

$200,000

Billings

40,000

90,000

120,000

250,000

Cash collections

40,000

80,000

130,000

250,000

Estimated completion costs as of year-end

140,000

80,000

-

-

Assume a contract price of $250,000. Prepare the journal entries and show what a partial balance sheet would look like for each year, under the completed-contract method.

Reference no: EM13513373

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