Week 3 team B2003

Week 3 team B2003 - 1,200,000.00 Estimated total costs to...

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Cost Recovery Method A. Year Cash Received Beg Bal - - 2007 100,000.00 100,000.00 2008 60,000.00 50,000.00 2009 40,000.00 - Instalment Method B. 2007 2008 Inastallment Sales 200,000.00 Cost of Instalment 150,000.00 Gross Profit 50,000.00 Rate of goss profit on sale 25% 2007 25% 25% Cash collected on current years sales 100,000.00 60,000.00 Realized growth profit 25,000.00 15,000.00 Gross profit to be realized 25,000.00 10,000.00 Original Cost Recovered
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GPR 150,000.00 - 50,000.00 - - 10,000.00 - 40,000.00 50,000.00 2009 25% 40,000.00 10,000.00 - Balance of unrecieved
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AT 12/31/2007 12/31/2008 Contract Price 1,950,000.00 1,950,000.00 Less estimated cost: Cost to date 150,000.00
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Unformatted text preview: 1,200,000.00 Estimated total costs to complete 1,350,000.00 80,000.00 Estimated total costs 1,500,000.00 1,280,000.00 Estimated total gross profit or loss 450,000.00 670,000.00 Percent complete 0.1 0.94 Revenue to be recognized in 2007 2007 195,000.00 2008 1,828,125.00 195,000.00 1,633,125.00 2009 Gross Profit recognized in: 2007 45,000.00 2008 628,125.00 583,125.00 2009 B. complete contract method 2007 2008 Revenue from long term contract const of construction gross profit 12/31/2009 1,950,000.00 2,100,000.00 - 2,100,000.00 (150,000.00) 1 9 1,950,000.00 121,875.00 (150,000.00) 478,125.00 2009 1,950,000.00 2,100,000.00 (150,000.00)...
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Week 3 team B2003 - 1,200,000.00 Estimated total costs to...

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