Question
On January 1, 2018, Ledge Road Construction Co, Inc. entered into a contract to build a highway extension for the State of Florida. As of
- On January 1, 2018, Ledge Road Construction Co, Inc. entered into a contract to build a highway extension for the State of Florida. As of December 31, 2018, the following information is available for this contract:
Contract Price $10,000,000
Anticipated Total Costs $8,000,000
Costs incurred during 2018 $1,000,000
Under the completed contract method for accounting for long-term contracts, how much will the company record as revenue in 2018?
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Optimization Methods In Finance
Authors: Gérard Cornuéjols, Javier Peña, Reha Tütüncü
2nd Edition
1107056748, 9781107056749
