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During 2020, Wildhorse Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available.
During 2020, Wildhorse Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available. Costs incurred to date Estimated costs to complete 2020 2021 2022 $383,800 $905,280 $1,063,000 626,200 198,720 302,000 896,000 1,610,000 271,000 817,000 1.419.000 Billings to date ort Collections to date Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used." 2020 2021 2022 Gross profits
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