Business, 24.10.2019 17:43 fefebat

Exercise 6-20 (algo) long-term contract; revenue recognition over time vs. upon project completion [lo6-9] on june 15, 2021, sanderson construction entered into a long-term construction contract to build a baseball stadium in washington, d. c., for $430 million. the expected completion date is april 1, 2023, just in time for the 2023 baseball season. costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions): 2021 2022 2023 costs incurred during the year $ 40 $ 170 $ 60 estimated costs to complete as of december 31 210 140 — required: 1. compute the revenue and gross profit will sanderson report in its 2021, 2022, and 2023 income statements related to this contract assuming sanderson recognizes revenue over time according to percentage of completion. 2. compute the revenue and gross profit will sanderson report in its 2021, 2022, and 2023 income statements related to this contract assuming this project does not qualify for revenue recognition over time. 3. suppose the estimated costs to complete at the end of 2022 are $210 million instead of $140 million. compute the amount of revenue and gross profit or loss to be recognized in 2022 assuming sanderson recognizes revenue over time according to percentage of completion.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:30

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill. student a incorrect which is correct answer?

Answers: 2

Answer

Business, 22.06.2019 19:10

You have just been hired as a brand manager at kelsey-white, an american multinational consumer goods company. recently the firm invested in the development of k-w vision, a series of systems and processes that allow the use of up-to-date data and advanced analytics to drive informed decision making about k-w brands. it is 2018. the system is populated with 3 years of historical data. as brand manager for k-w’s blue laundry detergent, you are tasked to lead the brand's turnaround. use the vision platform to to develop your strategy and grow blue’s market share over the next 4 years.

Answers: 2

Answer

Business, 22.06.2019 20:00

What part of the rational model of decision-making does the former business executive “elliott” have a problem completing?

Answers: 2

Answer

Business, 22.06.2019 22:40

Southeastern oklahoma state university's business program has the facilities and faculty to handle an enrollment of 2,000 new students per semester. however, in an effort to limit class sizes to a "reasonable" level (under 200 generally), southeastern's dean, holly lutze, placed a ceiling on enrollment of 1,600 new students. although there was ample demand for business courses last semester, conflicting schedules allowed only 1,440 new students to take business courses.the utilization rate for southeastern=%the efficiency rate for southeastern=%

Answers: 3

Answer

You know the right answer?

Exercise 6-20 (algo) long-term contract; revenue recognition over time vs. upon project completion...

Questions