re: intermediate accounting 3 test

Project Description:

3)- on january 1, 2011 we purchased 25% of the common stock of another company for $200,000. during the year, the other company earning net income of $80,000 and paid dividends of $40,000. prepare the journal entries to record the purchase and any additional entries related to his investment in 2011. use the equity method.
4)- a company entered into a two year contract for $3,850,000, and projected the cost of this project to be $2 million. at the end of the first year the company incurred cost to be $1,800,000 related to the project, and estimated the remaining cost to be $1,300,000. the company has billed and collected $1,500,000 under the project. the company uses the percentage of completion method.
a-what is the percentage complete?
b- what is the gross profit to be recognized?
c-prepare the journal entries?
d- what would be the difference if the company used the completed contact
Skills Required:
Project Stats: Edited

Price Type: Fixed

Project Budget: $0 to $10
Expired
Total Proposals: 10
1 Current viewersl
64 Total views
Project posted by:

Proposals

Proposals Reputation Price offered
  • 4.9
    308 Jobs 134 Reviews
    $30 in 1 Day
  • 4.8
    142 Jobs 66 Reviews
    $25 in 1 Day
  • 4.5
    339 Jobs 138 Reviews
    $15 in 1 Day
  • 4.9
    618 Jobs 396 Reviews
    $10 in 1 Day
  • 4.9
    63 Jobs 31 Reviews
    $8 in 1 Day
  • 4.8
    601 Jobs 311 Reviews
    $8 in 12 Hours
  • 4.7
    33 Jobs 9 Reviews
    $8 in 15 Hours
  • 4.2
    68 Jobs 35 Reviews
    $20 in 1 Day
  • 0.0
    0 Jobs 0 Reviews
    $7 in 1 Day