Can you help me complete these 3 accounting questions?


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Can you help me complete these 3 accounting questions? Int. Accounting Homework.xlsx In 2016, Hardrock Construction Company was awarded a contract by Washington State to construct an interchange at the junc The estimated total costs of the project were $4,000,000 Instructions A. Make the summary journal entry to record 2016 construction costs of $1,400,000 (paid in cash) on construction in progress B. Make the summary journal entry to record 2016 progress billings of $800,000 (Hardrock bills the government for progress to C. Make the summary journal entry to record cash collections of $700,000 received by Hardrock during 2016 D. Make the journal entry to record the revenue, expense, and gross profit that can be recognized in 2016 on a % of completio E. Show how the construction in Process and Billings on Construction in Process accounts would appear in the financial statem F. calculate how much revenue, expense and gross profit would be recognized in 2016 if the completed contract method has be uct an interchange at the junction of Highway 17 and U.S I-90 for a total contract price of $5,000,000 ) on construction in progress to date he government for progress to date) during 2016 d in 2016 on a % of completion basis appear in the financial statements at the end of 2016. Include dollar amounts pleted contract method has been used Discount Furniture Store began operations in 2016. During 2016 it made furniture sales to customers on an installment bas of 25% on selling price. The cost of sales made during 2016 was $750,000. Sunstantial uncertainty exists about future colle and installment payments totaled $300,000. A perpetual inventory system is used. Instructions: A. Using the installment sales method for 2016, make summary journal entries to record all the transactions, including clos B. Calculate how much gross profit should be recognized in 2016 under the cost recovery method mers on an installment basis, with a markup (or gross profit) y exists about future collections. Cash collected in 2016 from down payments ansactions, including closing entries Gonzo Co. has two temporary tax differences at the end of 2016 between its books per GAAP and tax purposes 1. The first difference of $230,000 stens from installment sales. The sales are recorded for GAAP purposes in the year of sal of the installment sales to be received within one year ($30,000) is classified as a current receivable. The portion of the inst 2. The second difference of $35,000 results from the accrual of the estimated warranty costs. Under the matching principle (i.e when probably and reasonably estimated) but the loss is not deducted for tax purposes until cash is actually paid in fut to be settled in years later than the year immediately following the year of sale Gonzos accounting department has developed a schedule of future taxable and deductible amounts related to these temp 2017 2018 2019 2020 Total Installment sales $ 30,000 $ 60,000 $ 60,000 $ 80,000 $ 230,000 Warranty costs $ 15,000 $ 20,000 $ 35,000 The enacted tax rates are 34% for 2016-18 and 40% for 2019-20. At the beginning of 2016, the company had no deffered in tax return is $400,000. Taxable income is expected in all future years Instructions 1. Calculate the pre-tax GAAP income for 2016 2. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2016. 3. Show how deferred income taxes would appear on the balance sheet at the end of 2016. Include dollar amounts 4. Prepare the bottom section of the 2016 GAAP income statement that contains the followinglines: net income before inco (showing both the current and deferred portions) and net income and tax purposes P purposes in the year of sale but are not taxed until the cash is received. The portion vable. The portion of the installment sales to be received after one year is classified as a noncurrent receivable ($200,000) Under the matching principle, the lo

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