LAYUUT REFERENCES TAILIS RLVIL VI VILVI ULJIUN v W Hyperlink Store Bookmark SmartArt Chart Screenshot My Apps - Wikipedia Online Ca cross-reference comment Video ustrations Add-ins Media Links Comments Questions - Answer any FOUR Header E Quick Part Footer A WordArt TextA Page Number * A Drop Cap Header & Footer (4x 5 marks = 20 marks) Q1. Al-Duqum Construction Company has a contract to construct a OMR 4,500,000 bridge at an estimated cost of OMR 4,000,000. The contract is to start in July 2020, and the bridge is to be completed in October 2022. The following data pertain to the construction period. Details 2022 2020 2021 OMR 2,000,000 OMR 2,916,000 OMR 4,050,000 Costs to date Estimated costs to complete Progress billings during the year Cash collected during the year 2,000,000 900,000 750,000 1, 134,000 2,400,000 1,750,000 1.200.000 2,000,000 Instructions: (a). Using the percentage-of-completion method for long-term contracts, compute the estimated SrOSS revenue, BOSS profit that would be recognized during each year of the construction E Qui O + SmartArt Chart Screenshot A Wor Store Hyperlink Header Bookmark Footer My Apps - Wikipedia Online Video 6 g Cross-reference Comment Page Number Box Add-ins Media Links Comments Header & Footer OMR 2,000,000 OMR 2,916,000 OMR 4,050,000 Text A Drop Drop strations Costs to date -O- Estimated costs to complete Progress billings during the year Cash collected during the year 2,000,000 900,000 750,000 1, 134,000 2,400,000 1,750,000 1,200,000 2,000,000 Instructions: (a).Using the percentage-of-completion method for long-term contracts, compute the estimated gross revenue, gross profit that would be recognized during each year of the construction period. Q2. Andaman Corporation has the following accounts included in its December 31, 2015, trial balance: Retained Earnings $120,000, Share Capital - Ordinary $750,000, Bonds Payable $100,000, Share