Week_1_P18_3 - Name: Problem: Course: Date: P18-3,...

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Name: Problem: Course: Date: cost $2,000,000 $3,000,000 The 2010 2011 2012 $600,000 $1,560,000 $2,100,000 1,400,000 520,000 0 1,050,000 2,000,000 3,000,000 950,000 1,950,000 2,850,000 $3,000,000 $3,000,000 $3,000,000 $600,000 $1,560,000 $2,100,000 1,400,000 2,000,000 520,000 2,080,000 0 2,100,000 1,000,000 920,000 900,000 30% 75% 100% 300,000 690,000 900,000 0 300,000 690,000 $300,000 $390,000 $210,000 540,000 540,000 1,000,000 1,000,000 900,000 900,000 210,000 540,000 750,000 3,000,000 3,000,000 $50,000 $2,250,000 2,000,000 $250,000 Billings on Construction in Process Cash Accounts Receivable Construction Expenses Revenue from Long Term Contracts Accounts receivable Inventories Construction in Process Less: Billings Costs and recognized gross profit in excess of billings Balance Sheet (Partial) (c) Prepare a partial balance sheet for December 31, 2011, showing the balances in the receivables and inventory accounts. CHANCE COMPANY
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This note was uploaded on 03/18/2012 for the course AC 557 AC 557 taught by Professor Ac551 during the Spring '11 term at Keller Graduate School of Management.

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