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Required information Skip to question [ The following information applies to the questions displayed below. ] In 2 0 2 4 , the Westgate Construction
Required information
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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:
Cost incurred during the year $ $ $
Estimated costs to complete as of yearend
Billings during the year
Cash collections during the year
Westgate recognizes revenue over time according to percentage of completion.
Required:
Calculate the amount of revenue and gross profit loss to be recognized in each of the three years.
Note: Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.
please help me get the right answer, earlier I asked for help with the same question but the answers was incorrect.
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