Exercise $18-33($Algorithmic$)($L$0.5)$

Jeball Corporation, a calendar year taxparer utlifing the completed contract method of accounting, constructed a bulling for Samson, Ind under a losp$-$term contract. The gross contract price was $$3,110,500.$ Jebal finished construction in $2024$ at a cost of $$2,799,450.$ However, Samson invitied that leball redo the doorwer; otherwise, the contract priot would be reduced. The estimated cost of redoing the doorway is $$14,450.$ In $2025,$ the dispute is settled and Jeball fleed the doerway at a cost of $$57,560.$

Setati must incluse of $$ X in pross income and is alluwed defuctions of $5$ for $2024.$

In $2025,$ Jetiol multinetule $$ in gress income send may deflect Exercise $18-33($Algorithmic$)($L$0.5)$

Jeball Corporation, a calendar year taxparer utlifing the completed contract method of accounting, constructed a bulling for Samson, Ind under a losp$-$term contract. The gross contract price was $$3,110,500.$ Jebal finished construction in $2024$ at a cost of $$2,799,450.$ However, Samson invitied that leball redo the doorwer; otherwise, the contract priot would be reduced. The estimated cost of redoing the doorway is $$14,450.$ In $2025,$ the dispute is settled and Jeball fleed the doerway at a cost of $$57,560.$

Setati must incluse of $$ X in pross income and is alluwed defuctions of $5$ for $2024.$

In $2025,$ Jetiol multinetule $$ in gress income send may deflect