Reference no: EM13394

A company enters into a four year service contract at a contracted price of $12,000,000 on December 31, 20x0. At that time it was estimated that the total contract costs would amount to $10,000,000.

Data relating to the contract over its four years are as follows:

20x1 20x2 20x3 20x4

在一年中产生的费用$ 1,800,000 $ 2,400,000 $ 4,425,000 $ 2,600,000

Expected costs to complete contract 8,200,000 6,300,000 2,875,000 -0-

Required -

在四年中，评估将实现的收入和损益的数量。

问题2

为每项交易编写日记帐分录：

6月2日，将200个产品A605卖给了Chancellor Industries，每人30美元。条款1/10，n40

June 4 Chancellor Industries returned 35 units. The units were restocked.

June 11 Received a cheque from Chancellor for payment of the June 2 sale.

6月14日，将500单位的产品A505卖给了纽曼工业公司，每股价格为75美元。项1/10，n40。

June 18 Newman Industries informs us that some of the items sold on June 14 are damaged. They will keep the items but are requesting a credit note. After inspecting the units, a credit note of $5,000 is issued.

7月27日，纽曼工业公司收到了一张支票。

问题3

Simmons Company在7月进行了以下交易。

July 1 Sold merchandise to Bernice Wilson on credit, terms 2/10, n/30, FOB shipping point, $2,100 (cost, $1,260).

7月3日，从Simic Company购买了信贷商品，条款N/30，FOB运输点，3,800美元。

July 4 Accepted for full credit a return from Bernice Wilson and returned merchandise to inventory, $200 (cost, $120).

7月5日，已收到商品的货运费用横幅货运，290美元。

7月6日，从Hayes Supply Company购买商品，条款N/20，636美元。

July 8 Purchased merchandise on credit from Salinas Company, terms n/30, FOB shipping point, $3,600, which includes $200 freight costs paid by Salinas Company.

July 9 Received payment from Bernice Wilson (July 1 purchase)

7月12日，7月3日收到的一些商品返还了600美元。

7月16日收到了100美元的信用备忘录，用于7月6日的次要缺陷。

商品未退还。

July 17 Sold merchandise for cash, $1,000 (cost, $600).

7月24日，付费的模拟公司以购买7月3日。

Required -

1. Prepare general journal entries to record the transactions, assuming use of the periodic inventory system.

2.假设使用永久库存系统，准备一般日记帐分录以记录交易。