Question: a ( 3 ) need help figuring out On May 1 , 2 0 2 5 , Blossom Construction Company contracted to construct a factory

a(3) need help figuring out
On May 1,2025, Blossom Construction Company contracted to construct a factory building for a total contract price of \$8,490,000. The building was completed by May 31,2027. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2025,2026, and 2027 are given below.
Your answer is correct.
Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this
contract for the year ended December 31,2025.(Ignore income taxes.)(If answer is 0, please enter 0. Do not leave any fields blank.
Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45). Round percentages to 1 decimal place, e.g.
15.2% and other answers to 0 decimal places, e.g.5,125.)
2025
Costs to date (12/31/25)
$1
Estimated Costs to Complete
$
%
Revenue Recognized
$
$
Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this
contract for the year ended December 31,2026.(Ignore income taxes.)(If answer is 0, please enter 0. Do not leave any fields blank.
Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45). Round percentages to 1 decimal place, e.g.
15.2% and other answers to 0 decimal places, e.g.5,125.)
2026
$
Estimated Total Costs
$
Percent Complete
%
Revenue Recognized in 2026
$
Costs Incurred in 2026
2,465,800
Profit /(Loss) Recognized in 2026
$
(a3)
Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this
contract for the years ended December 31,2027.(Ignore income taxes.)(If answer is 0, please enter 0. Do not leave any fields blank.
Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45). Round percentages to 1 decimal place, e.g.
15.2% and other answers to O decimal places, e.g.5,125.)
2027
$
$
a ( 3 ) need help figuring out On May 1 , 2 0 2 5

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