T00,000 Und 17: I| 20x4 on contract #3814, which provided for a contract Gomez, Costs incurred during the year Estimated costs to complete, 12/31 31 Billings during the year ... Collections during the year .. 20x4 P1,200,000 20x5 P3,675,000 3,600,000 1,350,000 5,400,000 5,850,000 900,000 Or P450,000 P1,800,000 a. C. P600,000 d. P2,400,000 b. 17 ASSume that Gomez uses the cost recovery method (point-in-time) of accou nortion of the total gross profit to be recognized as income in 20x5 is P900,000 С. P2,325,000 a. P1,350,000 d. P7 b.

T00,000 Und 17: I| 20x4 on contract #3814, which provided for a contract Gomez, Costs incurred during the year Estimated costs to complete, 12/31 31 Billings during the year ... Collections during the year .. 20x4 P1,200,000 20x5 P3,675,000 3,600,000 1,350,000 5,400,000 5,850,000 900,000 Or P450,000 P1,800,000 a. C. P600,000 d. P2,400,000 b. 17 ASSume that Gomez uses the cost recovery method (point-in-time) of accou nortion of the total gross profit to be recognized as income in 20x5 is P900,000 С. P2,325,000 a. P1,350,000 d. P7 b.

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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