chapter18excel

chapter18excel - Est contract Value EAC 2004 900,000...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Est. contract Value 4,500,000 EAC 4,000,000 2004 2005 2006 Per Textbook Costs to date 1,000,000 2,916,000 4,050,000 Page 914 Estimated costs to complete 3,000,000 1,134,000 - Progress billing this year 900,000 2,400,000 1,200,000 Cash collected this year 750,000 1,750,000 2,000,000 Estimated total costs (EAC) 4,000,000 4,050,000 4,050,000 Percent complete 25% 72% 100% Total revenue to record 1,125,000 3,240,000 4,500,000 Revenue previously booked - 1,125,000 3,240,000 Total Current year revenue 1,125,000 2,115,000 1,260,000 4,500,000 Gross profit current year 125,000 199,000 126,000 450,000 This is not a necessary number, but provided to match to text T-ACCOUNTS 2004 ENTRIES REVENUE COS RECORD COSTS: 2004 ACTIVITY 1,125,000 1,000,000 COS 1,000,000 2005 ACTIVITY 2,115,000 1,916,000 A/P 1,000,000 2006 ACTIVITY 1,260,000 1,134,000 RECORD REVENUES: 4,500,000 4,050,000 Unbilled (or "CIP" or "WIP") 1,125,000 Revenue 1,125,000 RECORD BILLINGS AND COLLECTIONS: A/R 900,000 UNBILLED A/R
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/06/2008 for the course ECON 136C taught by Professor Anderson during the Summer '08 term at UCSB.

Ask a homework question - tutors are online