Business, 30.10.2019 01:31 genaroaG6119

Aconstruction company entered into a fixed-price contract to build an office building for $32 million. construction costs incurred during the first year were $9 million and estimated costs to complete at the end of the year were $21 million. the company recognizes revenue over time according to percentage of completion. how much revenue and gross profit or loss will appear in the company’s income statement in the first year of the contract? (enter your answer in whole dollars.)

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Aconstruction company entered into a fixed-price contract to build an office building for $32 millio...

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