Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the total price = 20,000,000 using the cost reco

The total PRICE = 20,000,000 using the cost recovery method show the impact...

60.1K

Verified Solution

Question

Accounting

The total PRICE = 20,000,000

image

using the cost recovery method show the impact of the above on the balance sheet and income statement under IFRS

Billings during Costs incurred during the year $2,000,000 Estimated costs to complete as of year-end $6,000,000 the year Cash collections during the year $900,000 2016 $1,000,000 2017 2,000,000 6,000,000 1,000,000 900,000 2018 4,750,000 1,250,000 5,000,000 4,300,000 2019 4,750,000 1,500,000 5,000,000 4,300,000 2020 2,250,000 656,250 4,000,000 4,800,000 2021 2,250,000 0 4,000,000 4,800,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

During review of the adjusting entries to be recorded on December 31, 20X8, Grand Corporation discovered...

Chemistry
1.2K views

How many calories are required to heat 62.0 kilograms ice from 0 degrees celsius to 47.0...

Basic Math
1.2K views

On two examinations, you have grades of 87 and 88. There is an optional finalexamination,...

Basic Math
1.2K views

A car rental company offers two plans for renting a car. Plan A: 25 dollars...

Statistics
1.2K views

The Census Bureau reports the average commute time for citizens of Cleveland Ohio is 33...

Statistics
1.2K views

Cigarettes smoked Tumor Size TV 17 02 0 8 9 10 11 12 13 14...

Accounting
1.2K views

Langdon Company is considering purchasing a capital investment that is expected to provide annual cash...

Accounting
1.2K views

Liz Ortega builds custom cabinets. The process usually begins with a preliminary visit to a...

Accounting
1.2K views

Nancy reports the following income and loss in the current year. Salary $ 60,000 Income...

Accounting
1.2K views

Advanced Scenario 3: question Retest tax preparation test

Finance
1.2K views

2) UIP: The current US/Mexican exchange rates are 0.0497 - 0.0501 $/peso. Assume 2-year interest...

Accounting
1.2K views

What is the annual Net Operating Income (NOI) if the Potential Gross Income (PGI) is...