Question: Question 1 10 pts [Show your computation] Presented below are two independent revenue arrangements for PT. Sukaharu. PT Sukaharu has entered into a contract beginning
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Question 1 10 pts [Show your computation] Presented below are two independent revenue arrangements for PT. Sukaharu. PT Sukaharu has entered into a contract beginning January 3, 20x2, to build a warehouse complex. It has been estimated that the project will cost 750,000 and will take 3 years to construct. The complex will be billed to the customer at 1,200,000. PT. Sukaharu applies the percentage of completion method The following data pertain to the construction period. 20x2 20x3 20x4 $780,000 $560,000 220,000 0 Costs to date Estimated costs to complete Progress billings to date Cash collected to date 290,000 460,000 290,000 220,000 600,000 1,200,000 1,200,000 500,000 Instruction: Prepare partial Statement of Financial Position (only accounts receivable and inventory) and income Statement 20x2, 20x3, and 20x4 related to the project. You must submit the financial statement in .xls or .xlsx format
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