×

### Let's log you in.

or

Don't have a StudySoup account? Create one here!

×

or

30

0

0

# ACC305 Wk 2 E5-10 Project Contracts fin571

Marketplace > Kaplan University > fin571 > ACC305 Wk 2 E5 10 Project Contracts

These notes were just uploaded, and will be ready to view shortly.

Either way, we'll remind you when they're ready :)

Get a free preview of these Notes, just enter your email below.

×
Unlock Preview

ACC305 Wk 2 E5-10 Project Contracts
COURSE
PROF.
TYPE
Study Guide
PAGES
0
WORDS
KARMA
50 ?

## Popular in Department

This 0 page Study Guide was uploaded by an elite notetaker on Monday November 9, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 30 views.

×

## Reviews for ACC305 Wk 2 E5-10 Project Contracts

×

×

### What is Karma?

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 11/09/15
E510 Sanderson Construction 1 Determine the amount of gross pro t or loss to be recognized in each of the three years using the percentage of completion method 2 How much revenue will Sanderson report in its 2011 and 2012 income statements related to this contract using the percentageof completion method 3 Determine the amount of gross pro t or loss to be recognized in each of the three years using the completed contract method 4 Determine the amount of revenue cost and gross pro t or loss to be recognized in each of the three years under IFRS assuming that using the percentageof completion method is not appropriate 5 Suppose the estimated costs to complete at the end of 2012 are 80 million instead of 60 million Determine the amount of gross pro t or loss to be recognized in 2012 using the percentageof completion method Exercise 510 Requirement 1 in millions 2011 2012 2013 Contract price w m 5 Actual costs to date 40 120 170 Estimated costs to complete Q Q i Total estimated costs 1 0 m L0 Estimated gross pro t actual in 2013 j 40 40 Gross pro t loss recognition 2011 40 25 X 60 15 160 2012 120 6667 X 40 2667 15 1167 180 2013 220 170 50 15 1167 2333 Requirement 2 2011 220 X 25 55 2012 220 X 6667 14667 55 9167 2013 220 14667 7333 Requirement 3 Year Gross pro t loss recognized 2011 0 2012 0 2013 Q Total project income 5g Requirement 4 2011 Revenue 40 Cost m Gross profit 0 2012 Revenue 80 Cost S Gross profit 0 2013 Revenue 100 220 contract price 40 80 Cost 50 Gross profit 50 Requirement 5 2012 120 60 X 20 12 15 3 loss 200 220 40 80 80 20

×

×

### BOOM! Enjoy Your Free Notes!

×

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

Steve Martinelli UC Los Angeles

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Jennifer McGill UCSF Med School

#### "Selling my MCAT study guides and notes has been a great source of side revenue while I'm in school. Some months I'm making over \$500! Plus, it makes me happy knowing that I'm helping future med students with their MCAT."

Bentley McCaw University of Florida

Forbes

#### "Their 'Elite Notetakers' are making over \$1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!
×

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com