ACC 305 Week 2 E5 10 Project Contracts
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ACC 305 Week 2 E5-10 Project Contracts
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Determine the amount of gross profit or loss to be recognized in each of the three years using the percentage- of-completion method.
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How much revenue will Sanderson report in its 2011 and 2012 income statements related to this contract using the percentage-of-completion method?
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Determine the amount of gross profit or loss to be recognized in each of the three years using the completed contract method.
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Determine the amount of revenue, cost, and gross profit or loss to be recognized in each of the three years under IFRS, assuming that using the percentage-of-completion method is not appropriate.
- Suppose the estimated costs to complete at the end of 2012 are $80 million instead of $60 million. Determine the amount of gross profit or loss to be recognized in 2012 using the percentage-of-completion method.
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02/19/2013
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E5-10 Project Contracts - ACC305 Intermediate Accounting I Ashford University.doc
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