Solved: Pronghorn inc began work on a 7579000 contract in 2017 to, Accounting Basics

+44 141 628 6080
[email protected]

Pronghorn inc began work on a 7579000 contract in 2017 to

Problem -

Pronghorn, Inc. began work on a $7,579,000 contract in 2017 to construct an office building. During 2017, Pronghorn, Inc. incurred costs of $1,865,850, billed its customers for $1,081,000, and collected $1,022,000. At December 31, 2017, the estimated additional costs to complete the project total $3,465,150.

Prepare Pronghorn's 2017 journal entries using the percentage-of-completion method.

Solution Preview :

Prepared by a verified Expert

Accounting Basics: Pronghorn inc began work on a 7579000 contract in 2017 to

Reference No:- TGS02368074

Now Priced at $20 (50% Discount)

Recommended (92%)

Rated (4.4/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Lowell inc has no debt and its financial position is given

problem 1lowell inc has no debt and its financial position is given by the following dataassets book market

Q : How did slaves from africa adapt to their new world what

1 how did religion influence trading patterns in the atlantics trading systems what was the role of religious

Q : If the cost of conversion is 162 per bushel at what market

suppose the current market price of corn is 314 per bushel your firm has a technology that can convert 1 bushel of

Q : A what is the npv of this opportunity b how can your firm

you run a construction firm you have just won a contract to build a government office building it will take one year to

Q : Pronghorn inc began work on a 7579000 contract in 2017 to

problem - pronghorn inc began work on a 7579000 contract in 2017 to construct an office building during 2017 pronghorn

Q : Does europe have more responsibility for european and world

after having been at war for nearly 14 years is america becoming a warrior nation have we become preoccupied with war

Q : Compare the fascist idea of the individual with the idea of

compare the fascist idea of the individual with the idea of individual rights that inspired the american and french

Q : Prepare the journal entry for flounder for the sale of the

question -in september 2017 flounder corp commits to selling 152 of its iphone-compatible docking stations to better

Q : Synthesizing the various concepts and results of the review

assignment required assignment-literature review cultural theoretical approaches and csrfor this assignment you will

1951647

Questions
Asked

3,689

Active Tutors

1449942

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

How coastlines are vulnerable to multiple climate change

Even though are coastlines are very vulnerable to multiple climate change impacts, the good news is that because most of our urban settlements

Review the real-life cat and mouse chase

Real-Life Cat and Mouse Chase: Understanding the Perceptions and Attitudes of Street Vendors of Metro Manila towards MMDA Regulation No. 03-004

Examine gender inequality on a global scale

Question: Examine gender inequality on a global scale, considering how factors such as globalization, colonialism

Discussion about cultural appropriation

This week watch the 3 short video clips below about cultural appropriation. These videos will redefine terms like cultural appropriation

Which are forms of media bias

Question: Which of the following are forms of media bias? (Select all that apply)

How is it rational for the owner of a factory or plantation

How is it rational for the owner of a factory or plantation to work his laborers to death or disability when they can easily be replaced cheaply?

How are schools important in the struggle for power

Question: How are schools important in the struggle for power and status?