Business, 11.02.2020 19:58 cougar9754

Computing Revenues under Long-Term Contracts
Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $ 900,000. Expected (and actual) costs for the warehouse follow: 2016, $202,500; 2017, $337,500; and 2018, $135,000. The company completed the warehouse in 2015. Compute revenues, expenses, and income for each year 2016 through 2018, and for all three years combined, using the cost-to-cost method.

Cost-to-Cost Method
% of total
Costs expected Revenue
Year incurred costs recognized Income
2016 $Answer Answer% $Answer $Answer
2017 Answer Answer% Answer Answer
2018 Answer Answer% Answer Answer
Total $Answer $Answer $Answer

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Computing Revenues under Long-Term Contracts
Camden Corporations agreed to build a warehouse f...

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