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ACCOUNTING FOR CONSTRUCTION Contract Price 1,825,000 2020 2021 2022 Contract cost incurred 350,000. 930,000. 300,000 Estimated Cost to Complete 1,050,000. 320,000 Compute for Revenue, CIP,
ACCOUNTING FOR CONSTRUCTION
Contract Price 1,825,000
2020 2021 2022
Contract cost incurred 350,000. 930,000. 300,000
Estimated Cost to Complete 1,050,000. 320,000
Compute for Revenue, CIP, and Realized Gross Profit for 2020, 2021, 2022.
Prepare Journal Entries.
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
