The Build-It Construction Company enters into a contract on January 1, 2011, to construct a 20-story office
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The Build-It Construction Company enters into a contract on January 1, 2011, to construct a 20-story office building for $42,000,000. During the construction period, many change orders are made to the original contract. The following schedule summarizes the changes made in 2011.
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Compute the revenues, costs, and gross profit to be recognized in 2011, assuming use of the cost-to-cost method to determine the percentage completed. (Round percentage to two decimal places.)
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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