On July 1, 2021, Wildflower Corp. contracted to build an office for Heart, Inc. for a total contract price of P1,950,000. Estimated cost to complete Billings during the year Costs incurred to date How much is the realized gross profit in 2021? 2021 P 1,350,000 300,000 150,000 2022 P 800,000 1,100,000 1,200,000

On July 1, 2021, Wildflower Corp. contracted to build an office for Heart, Inc. for a total contract price of P1,950,000. Estimated cost to complete Billings during the year Costs incurred to date How much is the realized gross profit in 2021? 2021 P 1,350,000 300,000 150,000 2022 P 800,000 1,100,000 1,200,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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