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You are the Senior Accountant for the Patty Corpor...




You are the Senior Accountant for the Patty Corporation which has several divisions. They each keep their own accounting books and have chosen the appropriate method of revenue recognition based on their operations. The Pickle construction division was working on one project for the 2012 fiscal year. They use the percentage of completion revenue recognition method. Contract for new administration building Total Contract Amount $ 60,000,000 Contract Grant Date August 14, 2012 Construction Began September 1, 2012 Estimated Cost to Complete at beginning of contract $ 52,000,000 Estimated Time to Complete Project 2 years As of Dec 31, 2012 Construction Costs incurred to date $ 14,140,000 Billings to date $ 19,500,000 Expected costs to complete $ 36,360,000


Paper#8095 | Written in 18-Jul-2015

Price : $25