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Solve the gross income each year, Thank you! During 2020, KTH Construction Company was awarded to construct a 30 million football coliseum in Cebu City.
Solve the gross income each year, Thank you!
During 2020, KTH Construction Company was awarded to construct a 30 million football coliseum in Cebu City. The project is expected to be completed within four years after signing of the contract. The following are the estimates based on engineering studies: Cost incurred each year Percentage of Completion First Year P8,500,000 20% Second Year 5,500,000 40% Third Year 4,500,000 75% Fourth Year 6,000,000 100% How much is the gross income each year if the company is using the percentage of completion methodStep by Step Solution
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