Business, 10.08.2021 03:30 haileysolis5
During 2017, Bridgeport Company started a construction job with a contract price of $1,620,000. The job was completed in 2019. The following information is available.
2017 2019 2018
Costs incurred to date $373,700 $749,360 $1,070,000
Estimated costs to complete 636,300 352,640 0
Billings to date 302,000 7,000 1,620,000
Collections to date 268,000 815,000 1,425,000
Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.
Answers: 2
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During 2017, Bridgeport Company started a construction job with a contract price of $1,620,000. The...
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