Brady Construction Company contracted to build an apartment complex for a price of $5,000,000. Construction began in
Question:
Brady Construction Company contracted to build an apartment complex for a price of $5,000,000. Construction began in 2024 and was completed in 2026. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars.
Required:
Copy and complete the following table:
Transcribed Image Text:
Situation 123456 Costs Incurred during Year 2025 $ 2,100 900 2,100 3,000 3,000 3,000 2024 $1,500 1,500 1,500 500 500 500 2026 $ 900 2,400 1,600 1,000 1,300 1,800 Estimated Costs to Complete (As of the End of the Year) 2025 $ 900 2,400 1,500 875 1,500 1,700 2024 $3,000 3,000 3,000 3,500 3,500 4,600 2026 -
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Situation 1 2 3 4 2024 2025 166667 233333 166667 66667 166667 266667 Gr Profit Recognized Over Time 2026 100000 100000 125000 375000 100000 0 200000 125000 125000 100000 100000 100000 100000 SUMMARY C...View the full answer
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