Business, 19.03.2020 08:31 isaiahcannon6158

RE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,215,000. JRE2 recognizes revenue upon contract completion.

Cost incurred Estimated Cost to Complete

2017 $ 252,000 $ 1,560,000

2018 1,610,000 510,000

2019 460,000 0

In 2016, JRE2 would report gross profit (loss) of:

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RE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,215,000. JRE2 recogni...

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