Project A BUDE C Total Contract Price $494,000 714,000 472,000 187,000 444,000 $2,311,000 Billings Through 12/31/24 $334,000 204,000 469,000 94,000 394,000 $1,495,000 Cash Collections Through 12/31/24 $304,000 204,000 384,000 62,000 394,000 $1,348,000 Contract Costs Incurred Through 12/31/24 $418,000 186,000 344,000 117,000 314,000 $1,379,000 Estimated Additional Costs to Complete Contract $95,000 434,000 -0- 91,000 78,500 $698,500
Project A BUDE C Total Contract Price $494,000 714,000 472,000 187,000 444,000 $2,311,000 Billings Through 12/31/24 $334,000 204,000 469,000 94,000 394,000 $1,495,000 Cash Collections Through 12/31/24 $304,000 204,000 384,000 62,000 394,000 $1,348,000 Contract Costs Incurred Through 12/31/24 $418,000 186,000 344,000 117,000 314,000 $1,379,000 Estimated Additional Costs to Complete Contract $95,000 434,000 -0- 91,000 78,500 $698,500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 25E: Koolman Construction Company began work on a contract in 2019. The contract price is 3,000,000, and...
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