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Return to qe 6 Brady Construction Company contracted to build an apartment complex for a price of $6,500,000. Construction began in 2021 and was completed
Return to qe 6 Brady Construction Company contracted to build an apartment complex for a price of $6,500,000. Construction began in 2021 and was completed in 2023. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars. 2 points Costs Incurred During Year Situation 2021 2022 2023 1 1,650 2,580 1,350 2 1,650 1,350 3,000 3 1,650 2,580 2,800 4 650 3,150 1,300 5 650 3,150 2,350 6 650 3,150 3,300 Estimated Costs to Complete (As of the End of the Year) 2021 2022 2023 3,930 1,350 3,930 3,000 3,930 2,700 4,550 950 4,550 2,700 6,055 3,050 Required: Complete the following table. (Do not round intermediate calculations. Enter answers in dollars. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.) Answer is complete but not entirely correct. Gross Profit (Loss) Recognized Revenue Recognized Over Time Revenue Recognized Upon Completion 2021 2022 2023 2021 2022 2023 Situation 1 2 3 $ 1,922,043 X $ 3,005,376 $ 1,572,581 X 1,922,043 X 1,426,500 X 3,151,457 X 1,922,043 X 2,419,913 > 2,158,044 X 812,500 X 4,310,526 X 1,376,974 X 812,500 X 3,150,000 2,537,500 X 630,127 X 2,989,051 X 2,880,822 X 0 0 0 0 0 0X 0$ 6,500,000 X 0 6,500,000 X OX 6,500,000 X 0 6,500,000 X 0 6,500,000 X 0 X 6,500,000 X 4 5 6
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