Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BnD Construction Co. successfully tendered for a 3-year contract to erect some warehouse facilities in Gros Islet. The following information has been provided. Contract price

BnD Construction Co. successfully tendered for a 3-year contract to erect some warehouse facilities in Gros Islet. The following information has been provided. Contract price - $25 000 000 2021 2022 2023 Cost during year $ 4 000 000 $8 000 000 $8 100 000 Estimated cost to complete 16 000 000 8 050 000 0 Progress billings to date 4 500 000 11 500 000 25 000 000 Cash collected to date 4 200 000 11 000 000 25 000 000 i. Complete the following Workings Schedule. Do not enter negative values in the schedule. 2021 2022 2023 Cost to date $Answer 29 Question 2 4000000.00 $Answer 30 Question 2 12000000.00 $Answer 31 Question 2 20100000.00 Estimated cost to complete $Answer 32 Question 2 16000000.00 $Answer 33 Question 2 8050000.00 $Answer 34 Question 2 0.00 Total estimated cost $Answer 35 Question 2 20000000.00 $Answer 36 Question 2 20050000.00 $Answer 37 Question 2 20100000,00 Percentage complete (Round to nearest whole number) Answer 38 Question 2 20 % Answer 39 Question 2 60 % Answer 40 Question 2 100 % Total contract price $Answer 41 Question 2 25000000.00 $Answer 42 Question 2 25000000.00 $Answer 43 Question 2 25000000.00 Total estimated cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information System

Authors: James A. Hall

7th Edition

978-1439078570, 1439078572

More Books

Students also viewed these Accounting questions

Question

Understand the idea of production process mapping.

Answered: 1 week ago