Business, 21.04.2020 21:51 heavenwagner
Cooper Construction Company had a contract starting April 2018, to construct a $24,000,000 building that is expected to be completed in September 2020, at an estimated cost of $22,000,000. At the end of 2018, the costs to date were $10,120,000 and the estimated total costs to complete had not changed. The progress billings during 2018 were $4,800,000 and the cash collected during 2018 was 3,200,000. Cooper uses the percentage-of-completion method. At December 31, 2018 Cooper would report Construction in Process in the amount of:
a. $ 920,000
b. $10,120,000
c. $11,040,000
d. $ 9,440,000
Answers: 1
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Cooper Construction Company had a contract starting April 2018, to construct a $24,000,000 building...
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