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A small bridge is to be constructed by the beginning of the year at a fixed price of sh 900,000 with estimates contract cost of...

      

A small bridge is to be constructed by the beginning of the year at a fixed price of sh 900,000 with estimates contract cost of sh 750,000 in year one. The following summaries are presented:
bridge1682019942.png

Required:
a) Prepare a statement showing the profit recognized in each year.
b) Balance sheet extract.
c) Journal entries to account for the extraction

  

Answers


Wilfred
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Wilfykil answered the question on August 6, 2019 at 06:50


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