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The following data pertains to Bell Co's construction jobs, which commenced during 2021: Contract price Costs incurred during 2021 Estimated additional cost to complete Project
The following data pertains to Bell Co's construction jobs, which commenced during 2021: Contract price Costs incurred during 2021 Estimated additional cost to complete Project 1 Project 2 420,000 300,000 240,000 280,000 120,000 40,000 What amount of gross profit/(loss) would Bell report in 2021 under the percentage of completion method, completed contract method, and zero profit method? 20,000; (20,000); (20,000) (20,000); 20,000; (20,000) 40,000; 0; 0 20,000; 0; 0
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