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Old MathJax webview please solve me this question in 30 minutes. I have a deadline to meet Bashundhara Builders contracted to build a high-rise for
Old MathJax webview
please solve me this question in 30 minutes. I have a deadline to meet
Bashundhara Builders contracted to build a high-rise for $21,000,000. Construction began in 2018 and is expected to be completed in 2021. Data for 2018 and 2019 are: 2018 2019 Costs incurred to date $2,700,000 $7,800,000 Estimated costs to complete 10,800,000 7,200,000 Penner uses the percentage-of-completion method. Instructions (a) Calculate percentage of completion for the year 2018 and 2019. (b) How much gross profit should be reported for 2018? Show your computation (c) How much gross profit should be reported for 2019? (d) make necessary journal entry to record construction cost in 2018 (e) Make the journal entry to record the revenue and gross profit for 2019. Add fileStep by Step Solution
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