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this one has 4 transcation list
1. Record the construction cost
2. record the progress billing
3 . Record the cash billing
4. record the gross profit (loss)
this one also has the same 4 transcation list
this one also has the same 4 transcation list
Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (lass) to be recognized in each of the three years using the above information. Hote: Leave no cells blank - be certain to enter " 0 wherevoc requind, Lost amounts should bet indicated with a minus aign Complete this question by entering your answers in the tabs below. Complete the information required below to prepare a partial balance sheet for 2024 and 2025 showing any items related to the contract. Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. Notce: Leave no cells btank - be certain to enter " 0 " whereves required. Loss amounts should be indicated with a minus sign. Complete this question by entering your answers in the tabs below. In the journal below, complete the necessary fournal entries for the year 2024 (credit "Cash, Materials, etc:" for construction costs incurred). Note: if no entry is required for a transaction/event, select "No joumal entry required" in the first account fleld. Journal entry worksheet 4. Note: Enter debits before credits. In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The raad was completed in 2026 , Information related to the contract is as follows: Assume that Westgate Construction's contract with Santa Clara County does not qualify for revenue recognition over time. Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in exch of the thice years. 2-a. In the joumal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc" for construction conts incurred). 2-b. In the joumal below, complete the necessary journal entries for the year 2025 (credit "Cash, Materials, etc for construction costs incurred). 2c. In the journal below, complete the necessary journal entries for the year 2026 (credit "Cash, Materials, etc" for construction costs incurred). 3. Complete the information required below to prepare a partial balance sheet for 2024 and 2025 showing any items related to the contract. 4. Calculate the amount of revenue and gross profit (joss) to be recognized in each of the three years, assuming the following costs incurted and costs to compiete information. 5. Calculate the amount of revenue and gross profin (loss) to be recognized in each of the three years;assuming the following costs incurred and costs to complete information. Complete this question by entering your answers in the tabs below. Complete this question by entering your onswers in the tabs below. In the journat below, complete the necessary journal entries for the yoar 2026 (credit "Cash, Materials, etc," for constructian costs incurred). Note: If no entry is required for a transactionvevent, select "No journat entry required" in the firat account field. Journal entry worksheet 4 Record the construction costs. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Calculate the amount of revenve and gross profit (loss) to be recognized in each of the three years using the above information. In the journal below, complete the necessary foumal entries for the year 2025 (credit "Cash, Materials, etc" for construction costs incurred). Note: If ho entry is required for a transaction/ovent, select "No journal entry required" in the fint account field. Journal entry worksheet 24 Record the construction costs. note: Enter debats before ondits
