Question: Which method is most equivalent to recognizing revenue at the point of delivery? Answer the following questions, assuming that Citation concludes it does not qualify

Which method is most equivalent to recognizing revenue at the point of delivery? Answer the following questions, assuming that Citation concludes it does not qualify for revenue recognition over time for its office building contracts: How much revenue related to this contract will Citation report in its

2024

and

2025

income statements? What is the amount of gross profit or loss to be recognized for the Altamont contract during

2024

and

2025 ?

Note: Leave no cells blank

-

be certain to enter

" 0 "

wherever required. Loss amounts should be indicated with a minus sign.

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