Question
Question#02: What are the criteria to measure revenue from sale of goods? In 2017, ABC Company started a construction job with a contract price of
Question#02:
- What are the criteria to measure revenue from sale of goods?
- In 2017, ABC Company started a construction job with a contract price of Tk.1, 800,000. The job was completed in 2019. The following information is available.
|
| 2017 | 2018 | 2019 |
| Costs incurred to date | Tk.400,000 | Tk.825,000 | Tk.1,070,000 |
| Estimated costs to complete | 600,000 | 275,000 | 0 |
| Billings to date | 400,000 | 1,000,000 | 1,800,000 |
| Collection to date | 370,000 | 910,000 | 1,525,000 |
Required:
Prepare all necessary journal entries for 2019.
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
