Question
CCS is a construction company that builds roads in the Northwest Territories (NWT). CCS uses the percentage-of-completion metho and measures completion on the basis of
CCS is a construction company that builds roads in the Northwest Territories (NWT). CCS uses the percentage-of-completion metho and measures completion on the basis of kilometres completed. In November 20X9, CCS signed an agreement with the NWT government to build 230 kilometres of new road for a total cost of $220 million. The contract would likely take three years to comp and would start in the spring of 20X0. Over the next three years, 69 kilometres were completed In 20X0, 115 kilometres completed 20X1, and 46 kilometres completed In 20X2. Required: Calculate the amount of revenue that would be recognized in 20X0, 20X1, and 20X2. (Enter your answers in million rounded to 1 decimal place.) Year 20X0 20X1 20X2 Revenue million million million
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