You have to figure out the actual cost billings and

Reference no: EM13581536

You have to figure out the actual cost, billings, and collections for each respective year. The reason why, is because the information presented is %u201Cto date%u201D not %u201CCosts expended this year%u201D as in the handouts and some of your assigned exercises/problems. Using the percentage-of-completion method compute the following: 1- Percent complete for 2010 and 2011. 2- Revenue recognized for 2010 and 2011. 3- Gross Profit recognized for 2010 and 2011. 4- Prepare the journal entries for 2011.

Reference no: EM13581536

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