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Pharoah Construction Company uses the percentage-of-completion method of accounting. In 2025, Pharoah began work under contract #E2-D2, which provided for a contract price of $2,176,000.
Pharoah Construction Company uses the percentage-of-completion method of accounting. In 2025, Pharoah began work under contract #E2-D2, which provided for a contract price of $2,176,000. Other details follow: Costs incurred during the year Estimated costs to complete, as of December 31 Billings during the year Collections during the year 2025 $698,750 926,250 425,000 355,000 2026 $1,448,000 -0- 1,656,000 1,508,000
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