Week 3 team B - 1,500,000.00 1,280,000.00 Estimated total...

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 Cost Recovery Method  A.  Year   Cash Received   Beg Bal   -     -     150,000.00  2007  100,000.00   100,000.00   50,000.00  2008  60,000.00   50,000.00   -    2009  40,000.00   -     -     Instalment Method  B. 2007 2008 2009  Inastallment Sales   Cost of Instalment    Gross Profit   Rate of goss profit on sale   2007 sales   2008 sales   2009 sales    Original Cost  Recovered   Balance of  Uncolected 
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 GPR   -     -     10,000.00   40,000.00   60,000.00 
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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   1,200,000.00     Estimated total costs to complete  1,350,000.00   80,000.00  Estimated total costs
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Unformatted text preview: 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 B - 1,500,000.00 1,280,000.00 Estimated total...

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