On February 1, 2023, Blossom Contractors agreed to construct a building at a contract price of $2,800,000. The total estimated construction costs would be $1,500,000 and the project would be finished in 2025. Information relating to the costs and billings for this contract is as follows: Total costs incurred to date Estimated costs to complete Customer billings to date Collections to date Gross profit/(loss) 2023 $ $ 525,000 975,000 1,100,000 1,000,000 2024 2023 $ 825,000 825,000 1,500,000 1,750,000 $ 2025 $ 2,200,000 Calculate the gross profit/ (loss) that should be recognized for 2023, 2024, and 2025 using the percentage completion method. (Ente negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round percentage complete to 1 decimal place, e.g. 15.2% and final answers to 0 decimal places, e.g. 5,125.) 2024 -0- 2,800,000 2,950,000 $ 2025

On February 1, 2023, Blossom Contractors agreed to construct a building at a contract price of $2,800,000. The total estimated construction costs would be $1,500,000 and the project would be finished in 2025. Information relating to the costs and billings for this contract is as follows: Total costs incurred to date Estimated costs to complete Customer billings to date Collections to date Gross profit/(loss) 2023 $ $ 525,000 975,000 1,100,000 1,000,000 2024 2023 $ 825,000 825,000 1,500,000 1,750,000 $ 2025 $ 2,200,000 Calculate the gross profit/ (loss) that should be recognized for 2023, 2024, and 2025 using the percentage completion method. (Ente negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round percentage complete to 1 decimal place, e.g. 15.2% and final answers to 0 decimal places, e.g. 5,125.) 2024 -0- 2,800,000 2,950,000 $ 2025

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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%24 %23 AutoSave H UnitllILabAssignment Question8 Protected View O Search (Alt+Q) Off Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing :X v fx Function: SUM; Formula: Multiply, Subtract; Cell Referencing D E B. C. F. H. Function: SUM; Formula: Multiply, Subtract; Cell Referencing B Using Excel to Determine Dividends Paid to Common 4 and Preferred Stockholders Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or work 5 PROBLEM 6 M. Bot Corporation has common stock and cumulative 7 preferred stock outstanding at December 31, 2022. No 8 dividends were declared in 2020 or 2021. area as indicated. What amount of dividends will common stockholders receive? Total dividend payment in 2022 $ 375,000 11 Preferred stock par value Annual…
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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
List Paragraph For the... badiya aldujaili BA AutoSave ff Search EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut - A^ A° Aav A E - E - E E E O Find - Calibri (Body) 11 AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB AAB6CCC AaBbCcDa 自Copy Paste S Replace В IUvab х, х* А I Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em... A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 1. 2 4 5 6. 7 If Busby Corporation's variable cost ratio is 0.75, targeted after tax net income is $27,580 (tax rate of 20%), and targeted sales volume in dollars is $219,000 then Busby's total fixed costs are: a. $27,170 b. $71,380 c. $20,275 d. $136,670 e. $129,775 f. $26,350 g. $54,750 Page 3 of 3 331 words English (United States) Focusם 160% 8:28 PM O Type here to search ENG 2/11/2021 (凸) . I . I ..?. . . E • . . L. . . t .. I ..
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