Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 9 10 pts ROGER CORP PREPARED THE FOLLOWING JOURNAL ENTRY IN 2019 REGARDING A PROJECT ACCOUNTED FOR UNDER THE PERCENTAGE OF COMPLETION METHOD: THE

image text in transcribed
Question 9 10 pts ROGER CORP PREPARED THE FOLLOWING JOURNAL ENTRY IN 2019 REGARDING A PROJECT ACCOUNTED FOR UNDER THE PERCENTAGE OF COMPLETION METHOD: THE PROJECT WAS STARTED IN 2018 AND WILL BE COMPLETED IN 2020. CONSTRUCTION IN PROGRESS 53,760 CONSTRUCTION EXPENSES 47,600 REVENUES FROM LT CONTRACTS 101,360 ROGER CORP AT THE END OF 2019 EXPECTS THE LIFETIME GROSS PROFIT ON THE PROJECT TO EQUAL $186,000. THE PROJECT IS 70% COMPLETE AT THE END OF 2019. THE PROJECT WAS 42% COMPLETE AT THE END OF 2018. REQUIRED: WHAT DID ROGER CORP EXPECT THE LIFETIME GROSS PROFIT ON THE PROJECT TO BE AT THE END OF 2018? REQUIRED: HOW MUCH REVENUE DID ROGER REPORT FROM THE PROJECT IN 2018

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

Students also viewed these Accounting questions

Question

which of the following loops prduces the ouput? 1 2 3 4 1 2 3 1 2 1

Answered: 1 week ago