Jibby Co's year end is 30 April. At 30 April 20X4 costs of $43,750 have been incurred
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Jibby Co's year end is 30 April. At 30 April 20X4 costs of $43,750 have been incurred on contract N53. The value of work certified at the period end is $38,615. The contract price is $57,500 but it is anticipated that the final costs at 30 September 20X4, when the contract is expected to end, will be $63,111.
(a) The anticipated future loss on the contract is $ .
(b) The revenue figure for the period to 30 April 20X4 is $ .
(c) The cost of sales figure for the period to 30 April 20X4 is $ .
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CIMA - C01 Fundamentals Of Management Accounting Revision Kit
ISBN: 9780751780734
1st Edition
Authors: BPP Learning Media
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