Acct344-On July 1, 2012, Torvill Construction Company Inc.

(Long-term Contract with an Overall Loss)On July 1, 2012, Torvill Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,900,000. On July 1, Torvill estimated that it would take between 2 and 3 years to complete the building. On December 31, 2014, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2012, 2013, and 2014.At 12/31/12At 12/31/13At 12/31/14Contract costs incurred300,0001,200,0002,100,000Estimated costs to complete the contract1,200,000800,000-Billings to Gumbel300,0001,100,0001,850,000Instructions:a. Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2012, 2013, 2014. (Ignore income taxes).b. Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2012, 2013, and 2014 (Ignore income taxes).

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Essay Fountain
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Tourism
thank you
Customer 452933, November 20th, 2021
Sociology
Thank you, I have been averaging 16/20 points for the past discussions 1-4). Unsure why, but I will know how this one goes in a few days. Thank you for your assistance.
Customer 452919, February 16th, 2023
English 101
well written excellent job, thank you!!
Customer 452989, December 2nd, 2021
Sociology
I enjoyed the writer's work. Please send the writer's ID. The paper was available ahead of the due date and numbered each question to ensure mee that it was covered. AWESOME WORK!
Customer 452919, April 20th, 2022
Sociology
Thanks to the entire team!
Customer 452919, December 8th, 2021
Sociology
Thank you for your teamwork. I have only used Solutions to assist me with my assignments.
Customer 452919, March 1st, 2023
Sociology
Thank you for your service as a team .
Customer 452919, December 1st, 2021
Nursing
misunderstanding paper was late
Customer 452695, April 2nd, 2021
Health Care
Thank you for getting this paper done in a timely manner
Customer 452641, February 20th, 2021
Education
I love you guys, yal are the best. Thank you so much !!!
Customer 453117, September 10th, 2022
Education
Great Job !!
Customer 453117, September 17th, 2022
Sociology
Thank you
Customer 452919, March 23rd, 2022
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat