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How to calculate total current month adjustments to income? info given: percentage of completion, Earned income over amounts billed $4804.64 billings over amounts earned (4,340)
How to calculate total current month adjustments to income?
info given:
percentage of completion,
Earned income over amounts billed $4804.64
billings over amounts earned (4,340)
completed contracts,
deferred income (3,964.11)
Reversal, prior months deferrals 5,100
TOTAL current month adjustments to income- 1,600.53
I dont understand how they reach that conclusion (the total)
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