Question: In 2 0 2 5 . Cullumber Construction Corp, began construction work under a 3 - year contract. Thie contract price was $ 1 ,
In Cullumber Construction Corp, began construction work under a year contract. Thie contract price was $ Cullumber uses the percentageofcompletion method for friancial accounting purposes. The income to be recogrized each year is based on the proportion of cost incurred to total estimated costs for completing the contract. The financial statement presentations relating to this contract at December are shown below. Income Statement Income before tax on the contract retognized in $a Your answer is correct. How much cash was collected in on this contract? b What was the initial estimated total income before tax on this contract? Part a has been answered answer part B b
Your answer is incorrect.
What was the initial estimated total income before tax on this contract?
Income before tax on this contract $
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