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Brady Construction Company contracted to build an apartment complex for a price of $6,200,000. Construction began in 2021 and was completed in 2023. The
Brady Construction Company contracted to build an apartment complex for a price of $6,200,000. Construction began in 2021 and was completed in 2023. The following is a series of independent situations, numbered 1 through 6, Involving differing costs for the project. All costs are stated in thousands of dollars. Estimated Costs to Complete Costs Incurred During Situation 2021 1 1,620 Year 2922 2,490 (As of the End of the Year) 2823 2 1,620 1,260 3 1,620 2,490 2021 2022 1,260 3,750 1,260 2,880 3,750 2,880 2,560 3,750 2023 2,460 4 620 3,120 5 620 3,120 1,240 4,340 2,140 935 4,340 6. 620 3,120 3,000 5,755 2,460 2,780 Required: Complete the following table. (Do not round intermediate calculations. Enter answers in dollars. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.) Situation 1 2021 2022 Gross Profit (Loss) Recognized Revenue Recognized Over Time 2023 Revenue Recognized Upon Completion 2021 2022 2023 0 0 2 0 0 3 4. 5 0 0 0 0 0 0 A arch 6 C < Prev 9 of 10 Next > a
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