Please list all of the journal entries for Other Current Year Contracts. Your company name is PP. See below information: PP initiated a number of other contracts in the current year. The total dollar amount of all other contracts initiated was $5,919,700. This amount is broken down as follows: Goods and services which were delivered and for which cash was received: $3,444,429. Goods and services which were not delivered, but for which cash was received: $ 340,390. Goods and services which were delivered, but for which cash was not received: $1,538,481. Goods and services which were not delivered and for which cash was not received: $596,400. Of the total goods and services delivered, $3,267,650 was related to goods and $1,715,260 was related to services.
Please list all of the journal entries for Other Current Year Contracts. Your company name is PP. See below information: PP initiated a number of other contracts in the current year. The total dollar amount of all other contracts initiated was $5,919,700. This amount is broken down as follows: Goods and services which were delivered and for which cash was received: $3,444,429. Goods and services which were not delivered, but for which cash was received: $ 340,390. Goods and services which were delivered, but for which cash was not received: $1,538,481. Goods and services which were not delivered and for which cash was not received: $596,400. Of the total goods and services delivered, $3,267,650 was related to goods and $1,715,260 was related to services.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please list all of the
- PP initiated a number of other contracts in the current year.
- The total dollar amount of all other contracts initiated was $5,919,700. This amount is broken down as follows:
- Goods and services which were delivered and for which cash was received: $3,444,429.
- Goods and services which were not delivered, but for which cash was received: $ 340,390.
- Goods and services which were delivered, but for which cash was not received: $1,538,481.
- Goods and services which were not delivered and for which cash was not received: $596,400.
- Of the total goods and services delivered, $3,267,650 was related to goods and $1,715,260 was related to services.
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