Create a contracting company in your name and suggest a 3-year contract to build a Bridge considering the following: 1. The contract price and overall cost should change at least once during the project. 2. One of the three years should include losses. 3. Provide the following table with all information filled: Year 1 Year 2 Year 3 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 Accounts Receivables balance 4. Record necessary entries to record cost of construction, collections and revenue recognition for year progress billing, cash 1. 5. Prepare Income statement and balance sheet for years 2 and 3. 6. This assignment will be marked out of 20. 7. Assignment should be submitted to Blackboard by 03/12/2020.

Accounting for Special Institutions - Assignment Create a contracting company in your name and suggest a 3-year contract to build a Bridge considering the following: 1. The contract price and overall cost should change at least once during the project. 2. One of the three years should include losses. 3. Provide the following table with all information filled: Year 1 Year 2 Year 3 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 Accounts Receivables balance 4. Record necessary entries to record cost of construction, progress billing, cash collections and revenue recognition for year 1 . 5. Prepare Income statement and balance sheet for years 2 and 3. 6. This assignment will be marked out of 20. 7. Assignment should be submitted to Blackboard by 03/12/2020. All the best :)