Complete this question by entering your answers in the tabs below. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2024 , assuming Avaya recognizes revenue over time according to percentage of completion, Complete this question by entering your answers in the tabs below. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assuming Avaya recognizes revenue over time according to percentage of completion. Note: Use percentages as calculated and rounded in the table below to arrive at your final answer. Loss amounts should be indicated with a minus sign. Assume Avaya contracted to provide a customer with Internet infrastructure for $2,350,000. The project bed completed in 2025. Data relating to the contract are summarized below: Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assumin revenue over time according to percentage of completion. 2. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assumin qualify for revenue recognition over time. 3. Prepare a partial balance sheet to show how the information related to this contract would be presente assuming Avaya recognizes revenue over time according to percentage of completion. 4. Prepare a partial balance sheet to show how the information related to this contract would be presente assuming this project does not qualify for revenue recognition over time. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 202 assuming this project does not qualify for revenue recognition over time. 2. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assur qualify for revenue recognition over time. 3. Prepare a partial balance sheet to show how the information related to this contract would be prese assuming Avaya recognizes revenue over time according to percentage of completion. 4. Prepare a partial balance sheet to show how the information related to this contract would be prese assuming this project does not qualify for revenue recognition over time. Complete this question by entering your answers in the tabs below. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025, assuming this proj qualify for revenue recognition over time. Note: Loss amounts should be indicated with a minus sign. Leave no cells blank. ed to provide a customer with Internet infrastructure for $2,350,000. The project began in 2024 and was ta relating to the contract are summarized below: unt of revenue and gross profit or loss to be recognized in 2024 and 2025, assuming Avaya recognizes according to percentage of completion. unt of revenue and gross profit or loss to be recognized in 2024 and 2025, assuming this project does not e recognition over time. palance sheet to show how the information related to this contract would be presented at the end of 2024 . ecognizes revenue over time according to percentage of completion. palance sheet to show how the information related to this contract would be presented at the end of 2024 . ect does not qualify for revenue recognition over time. ion by entering your answers in the tabs below
