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prepare a partial balance sheet using the attached information I'm stuck. am I missing something? this is for item number 3 In 2018, the Westgate
prepare a partial balance sheet using the attached information
I'm stuck. am I missing something? this is for item number 3
In 2018, the Westgate Construction Comparty entered into a contract to construct a road for Santa Clara County for $70000000. The Tad was completed in 2020 Information related to the contract is as follows 2018 $2,400,000 2019 $3,600,000 2020 $2,200,000 Cost incurred during the year Estimated costs to complete 8 of rear-eng Billines durine the year 5.60 2.000 2,000,000 1,800,000 4.000.000 3.600.000 4.590, Beg 1600.000 Jeste recognizes revenue over time according to percentage of completion equired: Calculate the amount of revenue and gross profit ose to be recognized in each of the three years - In the journal below, complete the necessary journal entries for the year 2015 (credt "Various accounts for construction costs Cred b. In the journal below.complete the necessary journal entries for the year 2019 (credit Various accounts for construction costs curred) c. In the journal below, complete the necessary journal entries for the year 2020 credit Various accounts for construction costs curre) Complete the information required below to prepare a partial balance sheet for 2015 and 2019 showing any hems related to the tract Calculate the amount of revenue and gross prontoss) to be recognized in each of the three years assuming the following costs curred and costs to complete information 2018 $2.400,000 5,600,000 Lost incurred during the year Estimated costs to complete as of 2019 $3,800,000 3,100,000 2022 $3,200,000 bory be doo prebro BOE 2.100.000 3 be In 2018, the Westgate Construction Comparty entered into a contract to construct a road for Santa Clara County for $70000000. The Tad was completed in 2020 Information related to the contract is as follows 2018 $2,400,000 2019 $3,600,000 2020 $2,200,000 Cost incurred during the year Estimated costs to complete 8 of rear-eng Billines durine the year 5.60 2.000 2,000,000 1,800,000 4.000.000 3.600.000 4.590, Beg 1600.000 Jeste recognizes revenue over time according to percentage of completion equired: Calculate the amount of revenue and gross profit ose to be recognized in each of the three years - In the journal below, complete the necessary journal entries for the year 2015 (credt "Various accounts for construction costs Cred b. In the journal below.complete the necessary journal entries for the year 2019 (credit Various accounts for construction costs curred) c. In the journal below, complete the necessary journal entries for the year 2020 credit Various accounts for construction costs curre) Complete the information required below to prepare a partial balance sheet for 2015 and 2019 showing any hems related to the tract Calculate the amount of revenue and gross prontoss) to be recognized in each of the three years assuming the following costs curred and costs to complete information 2018 $2.400,000 5,600,000 Lost incurred during the year Estimated costs to complete as of 2019 $3,800,000 3,100,000 2022 $3,200,000 bory be doo prebro BOE 2.100.000 3 beStep by Step Solution
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