Also during 2013 Citation began a development consisting of 12 identical homes Citation estimated that each home will sell for 600000 but individual sales prices are negotiated with buyers Deposits were received for eight of the homes three of which were completed during 2013 and paid for in full for 600000 each by the buyers The completed homes cost 450000 each to construct The construction costs incurred during 2013 for the nine uncompleted homes totaled 2700000

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Part 4 A B Revenue reported 7000000 Gross profit or loss to be recognized 3500000 2018 2019 Contract ... View the full answer