12. Robinsons Land recognizes construction revenue and cost using the percentage of completion method. During 2017, a

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12. Robinsons Land recognizes construction revenue and cost using the percentage of completion method. During 2017, a single long-term project begun which continue through 2017. Information on the project follows:

2017 2018

Collections 200,000 600,000

Construction in progress net of billings 44,000 (112,000)

Contract billings 200,000 840,000

Current year gross profit 34,000 100,000

How much is the cost incurred FOR 2017 AND 2018?

Posted Date: Jun 25, 2024 09:20 PM

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12. Robinsons Land recognizes construction revenue and cost using the percentage of completion method. During 2017, a

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