Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help due soon Wildhorse Construction Comparry had a contract starting April 2021, to construct a $39000000 building that is expected to be completed in

please help due soon
image text in transcribed
Wildhorse Construction Comparry had a contract starting April 2021, to construct a $39000000 building that is expected to be completed in September 2022, at an estimated cost of $35800000. At the end of 2022 , the costs to date were $16468000 and the estimated total costs to complete had not changed. The progress billings during 2021 were $8340000 and the cash collected during 2021 was $5570000. Wildhorse uses the percentage-of-completion method. At December 31,2021, Wildhorse would report Construction in Process in the amount of \begin{tabular}{|l|} \hline$15170000 \\ \hline$17940000 \\ $1472000 \\ $16468000 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Clinical Audit For Doctors

Authors: Dr. Bob Ghosh, Sir Liam Donalson, Dr. Chen Sheng Low, Margaret Keane, Dr. Bhoresh Dhamija

1st Edition

1906839018, 978-1906839017

More Books

Students also viewed these Accounting questions

Question

Discuss the history of human resource management (HRM).

Answered: 1 week ago