Kiner, Inc. began work in 2012 on a contract for $12,600,000. Other data are as follows: If

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Kiner, Inc. began work in 2012 on a contract for $12,600,000. Other data are as follows:

2013 2012 Costs incurred to date $5,400,000 $8,400,000 Estimated costs to complete 3,600,000 Billings to date 4,200,000

If Kiner uses the percentage-of-completion method, the gross profit to be recognized in 2012 is:

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Question Posted: Nov 22, 2017 08:11 AM

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Kiner, Inc. began work in 2012 on a contract for $12,600,000. Other data are as follows: If

Question:

2013 2012 Costs incurred to date $5,400,000 $8,400,000 Estimated costs to complete 3,600,000 Billings to date 4,200,000 12,600,000 Collections to date 3,000,000 10,800,000

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Income Tax Fundamentals 2013

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