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Question 9 10 pts ROGER CORP PREPARED THE FOLLOWING JOURNAL ENTRY IN 2019 REGARDING A PROJECT ACCOUNTED FOR UNDER THE PERCENTAGE OF COMPLETION METHOD: THE
Question 9 10 pts ROGER CORP PREPARED THE FOLLOWING JOURNAL ENTRY IN 2019 REGARDING A PROJECT ACCOUNTED FOR UNDER THE PERCENTAGE OF COMPLETION METHOD: THE PROJECT WAS STARTED IN 2018 AND WILL BE COMPLETED IN 2020. CONSTRUCTION IN PROGRESS 53,760 CONSTRUCTION EXPENSES 47,600 REVENUES FROM LT CONTRACTS 101,360 ROGER CORP AT THE END OF 2019 EXPECTS THE LIFETIME GROSS PROFIT ON THE PROJECT TO EQUAL $186,000. THE PROJECT IS 70% COMPLETE AT THE END OF 2019. THE PROJECT WAS 42% COMPLETE AT THE END OF 2018. REQUIRED: WHAT DID ROGER CORP EXPECT THE LIFETIME GROSS PROFIT ON THE PROJECT TO BE AT THE END OF 2018
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