The Build-It Construction Company enters into a contract on January 1, 2013, to construct a 20-story office

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The Build-It Construction Company enters into a contract on January 1, 2013, to construct a 20-story office building for $42,000,000. During the construction period, many change orders are made to the original contract. The following schedule summarizes the changes made in 2013.

The Build-It Construction Company enters into a contract on January

Compute the revenues, costs, and gross profit to be recognized in 2013, assuming use of the cost-to-cost method to determine the percentage completed.

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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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