JSM Construction Co. began operations in 2021. Construction activity for 2021 is shown below. JSM uses...
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JSM Construction Co. began operations in 2021. Construction activity for 2021 is shown below. JSM uses the cost-recovery method. 2 Contract Price Billings Collections Through Through Costs to 12/31/21 12/31/21 12/31/21 $4650100 $4450100 $3900100 $3700200 3600100 1800100 1600100 870100 $2030100 3100100 1860100 1600100 3100100 1120100 3 Contract Estimated Costs to Complete What amount of gross profit should be reported on the income statement for 2021? JSM Construction Co. began operations in 2021. Construction activity for 2021 is shown below. JSM uses the cost-recovery method. 2 Contract Price Billings Collections Through Through Costs to 12/31/21 12/31/21 12/31/21 $4650100 $4450100 $3900100 $3700200 3600100 1800100 1600100 870100 $2030100 3100100 1860100 1600100 3100100 1120100 3 Contract Estimated Costs to Complete What amount of gross profit should be reported on the income statement for 2021?
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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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