Question
BCB Inc. entered into a contract to install a pipeline for a fixed price of $ 1,800,000. The company recognize revenue with the percentage of
BCB Inc. entered into a contract to install a pipeline for a fixed price of $ 1,800,000. The company recognize revenue with the percentage of completion method.
cost incurred Estimated Cost to complete
2020 $ 250,000 1,250,000
2021 800,000 550,000
2022 450,000 0
in 2020, the company would report gross profit(loss) of ?
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Financial Accounting A Critical Approach
Authors: John Friedlan
1st Edition
0130193720, 978-0130193728
