Question
On March 1, 2012, Chance Company entered into a contract to build an apartment building. It is estimated that the building will cost $2,172,000 and
On March 1, 2012, Chance Company entered into a contract to build an apartment building. It is estimated that the building will cost $2,172,000 and will take 3 years to complete. The contract price was $3,121,000. The following information pertains to the construction period.
| 2012 | 2013 | 2014 | ||||
| Costs to date | $673,320 | $1,602,840 | $2,014,000 | |||
| Estimated costs to complete | 1,498,680 | 563,160 |
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Auditing For Dummies
Authors: Maire Loughran
1st Edition
0470530715, 978-0470530719
