Question
The Kenny Construction Co. has been contracted to construct a bridge for $3,000,000 at an estimated cost of $2,000,000. The contract period begins on Jan.
2022 20232024
Costs to date: $1,000,000 $2,000,000 $2,500,000
Estimated costs to complete: $1,000,000 $500,00 $0
Calculate the percentage of completion for each year.
Calculate the amount of revenue a
Needing a little help calculating the percentage and amount. I'm getting a little confused. Any help would be apperciated. Thank you.
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Answer Based on the given data here is the breakdown of costs for each year 2022 ...Get Instant Access to Expert-Tailored Solutions
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Intermediate Accounting
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