Question: Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July

Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2017, and the bridge is to be completed in October 2019. The following data pertain to the construction period.

Costs to date 2017: $1,325,000 2018: $3,780,000 2019: $5,430,000 Estimated costs to complete 2017:3,975,000 2018: $1,620,000 2019: $0

What is the percentage of contract completed by 2018?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Answer is bolded below. Please provide detailed explanation on how to solve this. Thank you. Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of...

Q:

Answer is provided below. Please provide detailed explanation on how to solve this. Thank you. Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of...

Q:

Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2017, and the bridge is to be completed in October...

Q:

Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2017, and the bridge is to be completed in October...

Q:

Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2017, and the bridge is to be completed in October...

Q:

Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2017, and the bridge is to be completed in October...

Q:

Answers are bolded below. Please provide detailed explanation on how to solve this. Thank you. 6. Pizza Factory enters into a franchise agreement on 11/1/14 giving Mows House the right to operate as...

Q:

11. Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2015, and the bridge is to be completed in...

Q:

QUESTION 28 Black Bear Construction Company has a contract to construct a $ 515.000 bridge at an estimated cost of 5 386.250 The contract is to start in July 2019, and the bridge is to be completed...

Q:

The Boxwood Company sells blankets for $ 6 0 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1 . Date Blankets Units Cost 0 3 - May...

Q:

Which is false regarding customer service? 1) A minimum level is required to stay in business 2) All customers should be treated equally to maintain standard processes O 3) There exists different...

Q:

"Data are simply raw facts that describe the characteristics of an event ..... information is defined as being data organized in a meaningful way to be useful to the user" (Richardson et. al. p. 6)....

Q:

What is an Operating System?

Q:

Which of the following is not an alternative to the traditional office work model? job sharing remote working offshoring precarious proletariat

Q:

What traits does Tony Hsieh exhibit that would indicate he is an effective leader?

Q:

What factors in Nooyis Five C model facilitate employee trust?

Q:

How is personality (Chapter 2) in general best associated with which leadership theory?