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Beck Construction Company began work on a new building project on January 1 , 2 0 2 3 . The project is to be completed
Beck Construction Company began work on a new building project on January The project is to be completed by December for a fixed price of $ million. The following are the actual costs incurred and estimates of remaining costs to complete the project that were made by Beck's accounting staff:
Years Actual costs incurred in each year Estimated remaining costs to complete the project measured at
December of each year
$ million $ million
$ million $ million
$ million $ million
Required:
What amount of gross profit or loss would Beck record on this project in each year, assuming that Beck recognizes revenue for this project upon completion of the project?
Note: Enter "None" if there is no requirement of recognizing profit or loss. Loss amounts should be indicated with a minus sign. Enter your answers in millions ie should be entered as
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