The following information relates to questions
Cooper Construction Company had a contract starting April 2012, to construct a $9,000,000 building that is expected to be completed in September 2014, at an estimated cost of $8,250,000.At the end of 2012, the costs to date were $3,795,000 and the estimated total costs to complete had not changed.The progress billings during 2012 were $1,800,000 and the cash collected during 2012 was 1,200,000.
-At December 31, 2012 Cooper would report Construction in Process in the amount of:

Question

The following information relates to questions 
Cooper Construction Company had a contract starting April 2012, to construct a $9,000,000 building that is expected to be completed in September 2014, at an estimated cost of $8,250,000.At the end of 2012, the costs to date were $3,795,000 and the estimated total costs to complete had not changed.The progress billings during 2012 were $1,800,000 and the cash collected during 2012 was 1,200,000.
-At December 31, 2012 Cooper would report Construction in Process in the amount of:

Quizplus · Accepted Answer

Construction in Process = Costs to Date - Progress Billings = $3,795,000 - $1,800,000 = $1,995,000.

The Following Information Relates to Questions