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During 2 0 2 0 , Marin Company started a construction job with a contract price of $ 1 , 6 2 0 , 0
During Marin Company started a construction job with a contract price of $ The job was completed in The following information is available.
Costs incurred to date $ $ $
Estimated costs to complete
Billings to date
Collections to date
a
Compute the amount of gross profit to be recognized each year, assuming the percentageofcompletion method is used.
Gross profit recognized in $
Gross profit recognized in $
Gross profit recognized in $
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