In January. 2 0 2 1 , Siemens Engineering Co . signed a $ 2 4 0
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In January. Siemens Engineering Co signed a $ million contract to construct a new city hall within two years. The city will pay $ million upfront, and the rest $ million at the end of the project.
Siemens expects that total cost associated with the project would be $ million, with $ million costs incurred during and rest of the cost will incur in
Using the costtocost method, how much revenue should Siemens recognize in and respectively? What is the recognized gross profit each year?
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