Solved: Same facts as those shown on page 1139 except that hamilton, Cost Accounting

Same facts as those shown on page 1139 except that hamilton

Hamilton Construction Company uses the percentage-of-completion method of accounting. In 2012, Hamilton began work under contract #E2-D2, which provided for a contract price of $2,200,000. Other details are as follows.

1390_What portion of the total contract price.PNG

Instructions

(a) What portion of the total contract price would be recognized as revenue in 2012? In 2013 ?

(b) Assuming the same facts as those shown on page 1139 except that Hamilton uses the cost-recovery method of accounting, what portion of the total contract price would be recognized as revenue in2013?

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Cost Accounting: Same facts as those shown on page 1139 except that hamilton

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Cost Accounting: Same facts as those shown on page 1139 except that hamilton

Reference No:- TGS0811321

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