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Create a contracting company in your name and suggest a 3-year contract considering the following: The contract (i.e. bridge, hospital, university etc.) should be logical
Create a contracting company in your name and suggest a 3-year contract considering the following:
- The contract (i.e. bridge, hospital, university etc.) should be logical and based on reasonable price and total cost.
- The contract price and overall cost should change at least once during the project.
- At least one of the three years should include losses.
- The contract should finish during the expected period.
- Provide a table with all of the following information for all the years of the contract: Cumulative Actual costs, Actual costs for each year, Estimated Costs for Completion, Overall Costs, Completion percentage, Revenues for each year, Profit/loss for each year, Progress Billing, Cash Collections and Account Receivables Balance.
- Record all necessary entries to record cost of construction, progress billing, cash collections and revenue recognition for the 1st year.
- Prepare Income statement and balance sheet for the 1st years.
- the total price and : Cumulative Actual costs, Actual costs for each year is by your choice as long it is reasonable
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