Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Jenga Ltd Accounting for Long-Term Construction
Question Description
Jenga Ltd. is a construction company whose financial year ends on 31 March. The information provided below was extracted from the books of the company in connection with the three construction contracts undertaken by the company during the financial year ended 31 Mach 2005.
Contract No.468
Contract No.469
Contract No.470 Sh 000 Sh. 000 Sh. 000
Contract price 3600 4800 2500
Cost incurred up to 31 March 2004 1800 3000 1500
Cost incurred during the year600 1000 500
Estimated total cost of the contract 3000 5200 2300
Total billings to date 2800 4500 1800
Total cash received to date2600 4200 1700
Total profit/(loss) reported on the contract to date360 30 (20)
General administration expenses6012030
Required:
Using the percentage of completion method of accounting for long-term construction contracts:
Calculate the profit or loss realised on each contract for the year ended 31 Marcy 2005.(6 marks)
Prepare profit and loss account extracts for each contract for the year ended 31 March 2005.(3 marks)
Prepare balance sheet extracts as at 31 March 2005.
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Jenga Ltd Accounting for Long-Term Construction |
Jenga Ltd Accounting for Long-Term Construction