BProblemsChapter 5

BProblemsChapter 5 - Problem 5-1 Sale Method Jan Feb Mar...

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Unformatted text preview: Problem 5-1 Sale Method Jan. Feb. Mar. April May June Sales......................................................................................................................................................................................... $12,000 $ 8,000 $13,000 $11,000 $9,000 $13,500 Cost of goods sold.................................................................................................................................................................... 7,800 5,200 8,450 7,150 5,850 8,775 Gross margin............................................................................................................................................................................ $ 4,200 $2,800 $ 4,550 $ 3,850 $3,150 $ 4,725 Installment Method Jan. Feb. Mar. April May June Sales......................................................................................................................................................................................... $11,000 $10,000 $11,500 $10,500 $10,500 $9,500 Cost of goods sold.................................................................................................................................................................... 7,150 6,500 7,475 6,825 6,825 6,175 $ 3,850 $ 3,500 $ 4,025 $ 3,675 $ 3,675 $3,325 Problem 5-2 Completed Contract Percentage of Completion This Year Next Year This Year Next Year Income excluding motel (000)................................................................................................................................................. $1,250 $1,250 $1,250 $1,250 Income from motel project....................................................................................................................................................... 750 450 300 Income before taxes.................................................................................................................................................................Income before taxes....
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This note was uploaded on 12/07/2010 for the course ACCT 2030 taught by Professor Harris during the Spring '10 term at U. Memphis.

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BProblemsChapter 5 - Problem 5-1 Sale Method Jan Feb Mar...

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