Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,700,000. The project was begun in 2020 and completed in 2021. Cost and other data are presented below: 2020 2021
Costs incurred during the year $486,500 $1,000,000
Estimated costs to complete 903,500 0
Billings during the year 455,000 1,245,000
Cash collections during the year 355,000 1,345,000

Assume that Beavis recognizes revenue on this contract over time according to percentage of completion.

Required:
a. Compute the amount of gross profit recognized during 2020 and 2021.
b. Prepare all journal entries to record costs, billings, collections, and profit recognition.

Provide an example of open-ended credit account that caroline has. caroline blue's credit report worksheet.

Job applications give employers uniform information for all employees,making it easier to

Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e.g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)