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On March 1, 2025. Crane Construction Company contracted to construct a factory building for Windsor Manufacturing inc for a total contract price of $8,410,000. The
On March 1, 2025. Crane Construction Company contracted to construct a factory building for Windsor Manufacturing inc for a total contract price of $8,410,000. The building was completed by October 31, 2027. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Windsor for 2025,2026 , and 2027 are given below. Using the percentage-of-completion method, prepare a schedule to compute the profit or loss to be recognized as a result of this contract for the year ended December 31, 2026. (Ignore income taxes) (if answer is 0, please enter 0, Do not leave any fields blank: Enter loss using either a negutive sisn preceding the number es, -45 or parentheses es. (45). Using the percentage-of-completion method, prepare a schedule to compute the profit or loss to be recognized as a result of this contract for the year ended December 31, 2025. (Ignore income taves) (0f answer is 0, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number es. -45 or parentheses es. (45).)
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