Clay Company uses the completed contract method on a contract that requires 14 months to complete. The
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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 2017, $210,000 of the costs had been incurred. The contract is completed on schedule; however, total costs equal $435,000. What is the amount of AMT adjustments for 2017 and 2018?
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Related Book For 
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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