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Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba... APerformance EMail Lu Liberty Home Bb Blackboard . College EMail in Linkedin ; Indeed Thrift Savings Plan GGoogle Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 3 2021 2022 2023 points Cost incurred during the year $ 2, 079, 000 $ 3, 465, 000 Estimated costs to complete as of year-end 5, 621, 000 000 '95T'Z $ 2, 371, 600 Billings during the year 1, 700, 000 3, 844, 000 4, 456, 000 eBook Cash collections during the year 1, 500, 000 3,300, 000 000'007'S Print 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 each of the three years. 2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred). 2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred). 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2021 2022 2023 Cost incurred during the year $2, 530, 000 000'598'E$ $3,230, 000 Estimated costs to complete as of year-end 5,730, 000 3, 230, 000 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs Mc Graw Hill ducation Type here to search S 12:41 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba... APerformance EMail Lu Liberty Home Bb Blackboard . College EMail in Linkedin ; Indeed Thrift Savings Plan G Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2021 2022 2023 Cost incurred during the year $2, 530,000 $3, 865, 000 $4, 095, 000 3 Estimated costs to complete as of year-end 5, 730, 000 4,230, 000 0 points eBook Complete this question by entering your answers in the tabs below. Print Req 1 Req 2A Req 2B Req 2C Reg 3 Req 4 Req 5 Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. ( Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indicated with a minus sign.) 2021 2022 2023 Revenue Gross profit (I Mc Graw Hill 9 of 10 ducation Type here to search S 12:41 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard . College EMail in Linkedin ; Indeed Thrift Savings Plan G Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 View transaction list 3 Journal entry worksheet points 2 3 4 > eBook Record the construction costs. Print Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill 9 of 10 Dropbox ducation Type here to search S 2:41 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253%252F%252Flearn.liberty.edu%252Fweba... APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed Thrift Savings Plan G Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 View transaction list 3 Journal entry worksheet points 2 3 4 eBook Record the construction costs. Print Note: Enter debits before credits. Date General Journal Debit Credit 2022 Record entry Clear entry View general journal Screenshot Added Rea 24 Ben 20 A screenshot was added to your Dropbox. Mc Graw Dropbox Hill 9 of 10 ducation Type here to search S 2:41 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard . College EMail in Linkedin ; Indeed Thrift Savings Plan G Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 3 points Journal entry worksheet eBook 2 3 Print Record the construction costs. Note: Enter debits before credits. Date General Journal Debit Credit 2023 Record entry Clear entry View general journal Mc Graw Hill Type here to search S 12:41 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed Thrift Savings Plan G Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 Req 1 Req 2A Req 2B Req 2C Reg 3 Reg 4 Reg 5 3 Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to points the contract Balance Sheet (Partial) 2021 2022 eBook Current assets Print Current liabilities: Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill Dropbox ducation Type here to search S 2:41 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba... APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed Thrift Savings Plan Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 incurred and costs to complete information. 2021 2022 2023 Cost incurred during the year $2, 530,000 $3, 865, 000 $4, 095, 000 Estimated costs to complete as of year-end 5, 730, 000 4, 230, 000 3 points eBook Complete this question by entering your answers in the tabs below. Print Req 1 Req 2A Req 2B Req 2C Reg 3 Req 4 Reg 5 Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. (Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indicated with a minus sign. 2021 2022 2023 Revenue Gross profit (I Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill Dropbox ducation Type here to search S 2:42 19/09/2020Connect X D ) 2Pac Ft Eminem - Buried Ali X C Mail - Gardner, Jeffrey Steven - X X Course Hero X C In 2021, The Westgate Construct > + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba... APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed Thrift Savings Plan Google Other favorites Chapter 06 i Saved Help Save & Exit Submit Check my work 9 incurred and costs to complete information. 2021 2022 2023 Cost incurred during the year $2, 530,000 $3, 865, 000 $4, 095, 000 5, 730, 000 000'DEZ't 3 Estimated costs to complete as of year-end points eBook Complete this question by entering your answers in the tabs below. Print Req 1 Req 2A Req 2B Req 2C Reg 3 Reg 4 Reg 5 Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. (Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indicated with a minus sign. 2021 2022 2023 Revenue Gross profit (loss) Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill 9 of 10 Dropbox ducation Type here to search S 2:42 19/09/2020
