Ex 18.

33

2022 2023 2024

contract price 1,600,000 1,600,000 1,600,000
less estimated cost
cost to date 400000 825000 1070000
estimated costs to cpmplete 600000 275000 -
estimated total cost 1000000 1100000 1070000
estimated total gross profit 600000 500000 530000

% complete 40% 75% 100% must be 100%

total gross profit recogized to date (cummulated amt) 240000 375000 530000

less: gross profit recognized in perior year - 240000 375000 #12

gross profit recognized in current year 240000 135000 155000

b)
contruction in process (825000-400000) 425000
material, cash, payable etc. 425000 ppt#11

account receivable (900000-300000) 600000

billings on contruction in process 600000 ppt#11

cash (810000-270000) 540000

account receivale 540000 ppt#11

contruction in process 135000

contruction expense 425000
revenue from lont-term contract 560000 ppt#13

c)
2022 2023 2024
gross profit 0 0 530000

d) 2022 2023 2024

contract price 1,600,000 1,600,000 1,600,000
less estimated cost
cost to date 400000 825000 1070000
estimated costs to cpmplete 600000 875000 -
estimated total cost 1000000 1700000 1070000
estimated total gross profit 600000 -100000 530000
loss
% complete 40% 49% 100% must be 100%
total gross profit recogized to date (cummulated amt) 240000 -100000 530000

less: gross profit recognized in perior year - 240000 -100000 #12

gross profit recognized in current year 240000 340000 630000

2022 2023 2024

contract price 900000 900000 900000
less estimated cost:
cost to date 270000 450000 610000
estimated csot to complete 330000 150000 0
estimated total cost 600000 600000 610000
estimated total gross profit 300000 300000 290000

% complete 45% 75% 100%

total gross profit recogized to date (cummulated amt) 135000 225000 290000

less: gross profit recognized in perior year 0 135000 225000

gross profit recognized in current year 135000 90000 65000

ust be 100%

ust be 100%