Question: Hello this is the second time I am posting the same question due to being incorrect and insufficient. I need exact number of rows without

 Hello this is the second time I am posting the same
question due to being incorrect and insufficient. I need exact number of
rows without any exception. I already completed some of them but I
do not think they are correct. Please help me with this question.
A) 2017 has 7 rows, 2018 has 8, and 2019 has 9
B) 2018 and 2019 have 5 rows each. Thank you. Question 1Hello this is the second time I am posting the same question due to being incorrect and insufficient.
I need exact number of rows without any exception. I already completed some of them but I do not think they are correct.
Please help me with this question.
A) 2017 has 7 rows, 2018 has 8, and 2019 has 9
B) 2018 and 2019 have 5 rows each.
Thank you.

Question 1 On July 1, 2017, Concord Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,910,000. On July 1, Concord estimated that it would take between 2 and 3 years to complete the building. On December 31, 2019, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2017, 2018, and 2019. At At 12/31/17 12/31/18 12/31/19 At Contract costs incurred to date Estimated costs to complete the contract Billings to Gumbel (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31 2017, 2018, and 2019. (ignore income taxes.) (If answer is o, please enter o. Do not leave any field blank) $327,800 $1,180,000 $2,090,400 1,162,200 820,000 300,000 1,110,000 1,870,000 2017 Costs to date (42/31/7) Estimated Cests to Complete Estimated Total Costs $ 327800 162200 490000 20%

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!