Saved L. VVTIAL Win Chauoneport 2022 UBIBLE STEEL CIBLE LOUIS LUOLL: (yne County 5. Which method of accounting should Citation Builders, Inc adopt for its single-family houses? 6. What will Citation report in its 2021 income statement and 2021 balance sheet related to the single-family home business cash in the balance sheet)? Complete this question by entering your answers in the tabs below. Req 1 2A and 2B Req 2C Req 3A and 3B Req 3C Req 4A and 4B Req 4C Req 5 Req 6A Req 6B Which method is most equivalent to recognizing revenue at the point of delivery? Answer the following questions assuming that Citation concludes it does not qualify for revenue recognition over time for its office building contracts: How much revenue related to this contract will Citation report in its 2021 and 2022 income statements? What is the amount of gross profit or loss to be recognized for the Altamont contract during 2021 and 2022? (Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indicated with a minus sign.) 1. Recognizing revenue at the point of delivery? 2021 2022 2a. Revenue recognized 2b. Gross profit or loss to be recognized Req 2C > < Prev 12 of 12 Next Show less