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Maju Bhd involved with construction of office building and suite apartment. Below is the detail of construction by Maju Bhd: The company determined the stage

image text in transcribed Maju Bhd involved with construction of office building and suite apartment. Below is the detail of construction by Maju Bhd: The company determined the stage of completion by using the cost-to-cost method. (i) Calculate the amount of contract revenue and expenses that should be recognized by Maju Bhd for the financial years ended 31 December 2007, 2008 and 2009. (ii) Prepare the extracts Statement of Financial Position and related note to the accounts for Maju Bhd in respect of the contract for the year ended 31 December 2008

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