6.12

Company A has the following information regarding a construction project whose selling price is $400: 19A 19B 19C Total Costs incurred $100 $150 $ 60 $310 Billings 100 170 130 400 Collections 100 120 180 400 Expected completion costs 250 50 Prepare entries for each year under the completed-contract method. In addition, present a partial balance sheet and income statement.

Only prepare the journal entries

6.13

For the previous problem, prepare entries for each year under the percentage-of-completion method and show a partial balance sheet and income statement.

Only prepare the journal entries