CWS Construction Co. began operations in 2021. Construction activity for 2021 is shown below. CWS uses...
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CWS Construction Co. began operations in 2021. Construction activity for 2021 is shown below. CWS uses the cost-recovery method. Contract Contract Price 1 2 Billings Collections Through Through 12/31/21 12/31/21 12/31/21 Costs to $4653200 $4452500 $3903500 $3704500 3603900 1803600 1603500 872100 $2035000 3104900 1860800 1603500 3104900 1120300 3 Estimated Costs to Complete What amount of gross profit should be reported on the income statement for 2021? O $1482200 O $1346000 O $948700 O $0 CWS Construction Co. began operations in 2021. Construction activity for 2021 is shown below. CWS uses the cost-recovery method. Contract Contract Price 1 2 Billings Collections Through Through 12/31/21 12/31/21 12/31/21 Costs to $4653200 $4452500 $3903500 $3704500 3603900 1803600 1603500 872100 $2035000 3104900 1860800 1603500 3104900 1120300 3 Estimated Costs to Complete What amount of gross profit should be reported on the income statement for 2021? O $1482200 O $1346000 O $948700 O $0
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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