Construction Accounting And Financial Management (4th Edition)
4th Edition
ISBN: 9780135232873
Author: Steven J. Peterson MBA PE
Publisher: PEARSON
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Textbook Question
Chapter 3, Problem 11P
Using the chart of accounts in Figure 2-1, determine the changes to the
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Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of billing a client $368,264 for Job 313. The bill includes $249,996 for work performed during the last month and $118,268 for retention withheld from the previous month’s payments. Retention will not be withheld on the $249,996.
Marin Company's gross pay for the week ended August 22 totalled $71,200, from which $3,880 was deducted for CPP, $1,125 for El,
and $19,900 for income tax.
Prepare the entry to record the employer payroll costs, assuming these will not be paid until September. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and
enter O for the amounts. List all debit entries before credit entries. Round answers to O decimal places, e.g. 1,575.)
Date
Account Titles
Aug. 22
Debit
Credit
In March, Crane Company completes Jobs 10 and 11. Job 10 cost $16,400 and Job 11 $24,600. On March 31, Job 10 is sold to the
customer for $28,700 in cash.
Journalize the entries for the completion of the two jobs and the sale of Job 10. (List all debit entries before credit entries. Credit account
titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Mar. 31
31
31
(To record the completion of the two jobs)
(To record the sale Job 10)
(To record the cost of the job sold)
Debit
Credit
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Chapter 3 Solutions
Construction Accounting And Financial Management (4th Edition)
Ch. 3 - How do the relationships between the balance...Ch. 3 - Which of the transactions from this chapter result...Ch. 3 - Prob. 3DQCh. 3 - Which of the transactions from this chapter result...Ch. 3 - Prob. 5DQCh. 3 - Prob. 6DQCh. 3 - The following invoices are being entered into the...Ch. 3 - Prob. 9PCh. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...
Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...Ch. 3 - Using the chart of accounts in Figure 2-1,...
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