Solution manual advanced accounting by baysa lupisan chapter 06

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... Total estimated cost Total estimated gross profit 2 006 P120,000,000 P 24,000,000 76,000,000 P100,000,000 P 20,000,000 Percentage of completion 24% 2 006- Revenue Cost of revenue 2008 P3,890,000 1,200,000... Recognized revenue Cost of revenue Gross Profit (loss) 12 2 006 P 1,100,000 1,000,000 P 100,000 – (1) 2007 P1,300,000 (2) 1,250,000 P 50,000 2 006 P3,500,000 1,000,000 P2,250,000 P3,250,000 250,000 30.77%... income would be recognized, because the P2,000,000 collections are exactly offset by the P2,000,000 costs AA1 - Chapter (2008 edition) Problem 7-9 2007 July Cash Notes Receivable Unearned Franchise
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