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Construction Contracts – Example 5 ??

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Construction Contracts – Example 5 ??

  • This topic has 2 replies, 2 voices, and was last updated 13 years ago by MikeLittle.
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  • February 17, 2012 at 10:36 am #51515
    marky123
    Member
    • Topics: 46
    • Replies: 193
    • ☆☆☆

    Hi please can anyone help.
    Chapter 13 – Example 5.

    In answers, General Costs are $ 750,000. (For year 2)
    Can anyone show me how this is arrived at? I only get it to $ 715,000 ??

    My workings:
    Costs to Date 500,000
    Estimated to completion 600,000


    1,100,000 @ 65% = 715,000

    Any help much appreciated 🙂

    February 23, 2012 at 1:04 pm #94602
    marky123
    Member
    • Topics: 46
    • Replies: 193
    • ☆☆☆

    Mike has now assisted in Ask The Tutor forum.

    February 28, 2012 at 1:04 pm #94603
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23333
    • ☆☆☆☆☆

    Thank you Marky

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