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Brady Construction Company contracted to build an apartment complex for a price of $6,300,000. Construction began in 2024 and was completed in 2026. The following
Brady Construction Company contracted to build an apartment complex for a price of $6,300,000. Construction began in 2024 and was completed in 2026. 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. Situation 2024 1 2355NI 4 6 Costs Incurred during Year 2025 2026 $ 2,520 $ 1,290 1,290 2,920 2,520 2,640 3,130 1,260 $ 1,630 1,630 1,630 630 630 630 Situation 1 2 3 4 5 6 3,130 3,130 Required: Complete the following table. Note: Do not round intermediate calculations. Enter your answers in whole dollars and not in thousands of dollars (i.e., $400 thousand should be entered as $400,000). Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign. 2,210 3,100 2024 Estimated Costs to Complete (As of the End of the Year) 2024 2025 2026 $ 3,810 $ 1,290 3,810 2,920 3,810 2,540 4,410 940 4,410 2,540 5,855 2,870 Gross Profit (Loss) Recognized Revenue Recognized Over Time 2025 2026 Revenue Recognized Upon Completion 2024 2026 2025
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