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You skipped this question in the previous attempt. Problem 13-55 (LO 13-4) Clay Company uses the completed contract method on a contract that requires 14
You skipped this question in the previous attempt. Problem 13-55 (LO 13-4) Clay Company uses the completed contract method on a contract that requires 14 months to complete. The contract is for $750,000 and has estimated costs of $425,000. At the end of 2019, $210,000 of the costs had been incurred. The contract is completed on schedule, however, total costs equal $435,000. Required: What is the amount of AMT adjustments for 2019 and 2020? (Round completion ratio to 3 decimal places. Negative amounts should be indicated by a minus sign.) AMT Adjustment des 2019 2020
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