Problem 5MOC Construction Company started work on three job sites during the currentData relating toyear.Any costs incurred are expected to be recoverable.the three jobs are given below:SiteEstimated CostsContractCostBillings onCollectionson Billings5,000,000PriceIncurredto CompleteContract13,750,0005,000,0007,000,0005,000,000900,0001,000,0001,000,0004,000,0001,000,000900,0001,000,000232,500,0001,500,000If the company records revenue over time, how much must be shown as currentasset in the balance sheet of MOC Construction Company as of December 31?5,500,000500,000A.c.250,000D. 100,000в.If the company records revenue at a point in time, how much must be shown ascurrent asset in the balance sheet of MOC Construction Company as of December31?5,100,000500,000A.C.250,000100,000в.D.

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Problem 5 MOC Construction Company started work on three job sites during the current year. Any costs incurred are expected to be recoverable. the three jobs are given below: Data relating to Estimated Costs to Complete Billings on Collections on Billings 5,000,000 900,000 Site Contract Cost Price Incurred Contract 3,750,000 5,000,000 5,000,000 000 ,000 ,ר 4,000,000 1,000,000 2 1,000,000 1,000,000 900,000 3 2,500,000 1,500,000 1,000,000 If the company records revenue over time, how much must be shown as current asset in the balance sheet of MOC Construction Company as of December 31? c. 250,000 D. 100,000 A. 5,500,000 500,000 в. If the company records revenue at a point in time, how much must be shown as current asset in the balance sheet of MOC Construction Company as of December 31? A. 250,000 5,100,000 500,000 c. в. D. 100,000

Problem 5 MOC Construction Company started work on three job sites during the current year. Any costs incurred are expected to be recoverable. the three jobs are given below: Data relating to Estimated Costs to Complete Billings on Collections on Billings 5,000,000 900,000 Site Contract Cost Price Incurred Contract 3,750,000 5,000,000 5,000,000 000 ,000 ,ר 4,000,000 1,000,000 2 1,000,000 1,000,000 900,000 3 2,500,000 1,500,000 1,000,000 If the company records revenue over time, how much must be shown as current asset in the balance sheet of MOC Construction Company as of December 31? c. 250,000 D. 100,000 A. 5,500,000 500,000 в. If the company records revenue at a point in time, how much must be shown as current asset in the balance sheet of MOC Construction Company as of December 31? A. 250,000 5,100,000 500,000 c. в. D. 100,000

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter27: Lean Principles, Lean Accounting, And Activity Analysis

Section: Chapter Questions

Problem 27.4CP

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