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Required information Problem 6 - 1 0 ( Algo ) Long - term contract; revenue recognition over time [ LO 6 - 8 , 6
Required information Problem Algo Longterm contract; revenue recognition over time LO The following information applies to the questions displayed below. In the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $ The road was completed in Information related to the contract is as follows: Westgate recognizes revenue over time according to percentage of completion. Problem Algo Part Calculate the amount of revenue and gross profit loss to be recognized in each of the three years, assuming the following costs incurred and costs to complete information. Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign. Answer is complete but not entirely correct.
Required information
Problem Algo Longterm contract; revenue recognition over time LO
The following information applies to the questions displayed below.
In the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for
$ The road was completed in Information related to the contract is as follows:
Westgate recognizes revenue over time according to percentage of completion.
Problem Algo Part
Calculate the amount of revenue and gross profit loss to be recognized in each of the three years, assuming the following costs
incurred and costs to complete information.
Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts
should be indicated with a minus sign.
Answer is complete but not entirely correct.
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