Question
Use the following information for questions 5-6Johnson Inc was contracted to build a new medical center for the University of Knowledge for a price of
Use the following information for questions 5-6Johnson Inc was contracted to build a new medical center for the University of Knowledge for a price of $100,000,000. During 2018, the first year of the project, Johnson Inc. spent $27,000,000 and at the end of 2018 they expected to incur another $63,000,000 in future years to finish the medical center. Johnson Inc uses the percentage of completion method
question 5 How much revenue should Johnson Inc recognize at the end of 2018 related to this project?
Question 6 How much costs should Johnson Inc recognize at the end of 2018 related to this project?
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