theonefreshmen
05.06.2021 •
Business
JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,245,000. JRE2 recognizes revenue upon contract completion.
Cost incurred Estimated Cost to Complete
2020 $ 256,000 $ 1,580,000
2021 1,630,000 533,000
2022 480,000 0
In 2022, JRE2 would report gross profit (loss) of:
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Ответ:
Explanation:
In 2022,
Contract Price 2,245,000
Less: Cost incurred
2020 (256,000)
2021 (1,580,000)
2022 (630,000)
Gross Margin (145,000)
Ответ: