Digitsl is a bulder of large digital networks In the midst of the high-tech euphoria, the...

 

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Digitsl is a bulder of large digital networks In the midst of the high-tech euphoria, the company bid and won a $48,000,000 contract to buld a network for the country of Elbonia. Detais on the project over the last throe years are as follows: (Cick the icon to revew the project data) Requirement. Compute the amount of revenue, cost of goode sold (COG), and gross profit (or loss) to be recognized in each of the three years The company uses the peroentage of completion method lo account for long-term contracts. Record your answer in the folowing table. (Complete al input cels. Enter al amcunts in thousands. Use parentheses or a minus sign to enter a gross lossY (in 5000's Year 1 Year 2 Year 3 Tetal Ravenue 48.000 Coos 13,200 54,000 Erpected tono (pecovery (14,400) (6,000) = Groes proft os) Data table in s000 Year1 Year 2 Year 3 Cumulative cosa incuned 15.2005 26400 S 54.000 Adstiona oosta to complele estimated at year-end 52,800 21.600 Amounts invoiced to clent in each year 9.200 17.400 25.000 Cash collected 6200 16.400 25400 Digitsl is a bulder of large digital networks In the midst of the high-tech euphoria, the company bid and won a $48,000,000 contract to buld a network for the country of Elbonia. Detais on the project over the last throe years are as follows: (Cick the icon to revew the project data) Requirement. Compute the amount of revenue, cost of goode sold (COG), and gross profit (or loss) to be recognized in each of the three years The company uses the peroentage of completion method lo account for long-term contracts. Record your answer in the folowing table. (Complete al input cels. Enter al amcunts in thousands. Use parentheses or a minus sign to enter a gross lossY (in 5000's Year 1 Year 2 Year 3 Tetal Ravenue 48.000 Coos 13,200 54,000 Erpected tono (pecovery (14,400) (6,000) = Groes proft os) Data table in s000 Year1 Year 2 Year 3 Cumulative cosa incuned 15.2005 26400 S 54.000 Adstiona oosta to complele estimated at year-end 52,800 21.600 Amounts invoiced to clent in each year 9.200 17.400 25.000 Cash collected 6200 16.400 25400

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1 000 Year 1 Year 2 Year 3 Revenue 9600 16800 21600 Cost of goods sold 13200 13200 27600 Gr... View the full answer