Question
A Company reports the following information for a $10,000,000 construction contract: Actual costs $5,000,000 Estimated costs to complete 9,000,000 Progress billings 3,300,000 Cash collected 3,000,000
A Company reports the following information for a $10,000,000 construction contract:
Actual costs $5,000,000
Estimated costs to complete 9,000,000
Progress billings 3,300,000
Cash collected 3,000,000
What is the dollar value of gross(loss) profit recognized? Please use the input method based on costs incurred to measure progress toward completion of the contract?
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Cost-Benefit Analysis Concepts and Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th edition
1108401295, 9781108415996, 1108415997, 978-1108401296
