Sunfish Construction Company uses the percentage-of-completion method of accounting.In 2014,Sunfish began work on a project which had a contract price of $1,600,000 and estimated costs of $1,200,000.Additional information is as follows:

The amount of gross profit Sunfish should recognize on this contract during 2014 is

Question

Sunfish Construction Company uses the percentage-of-completion method of accounting.In 2014,Sunfish began work on a project which had a contract price of $1,600,000 and estimated costs of $1,200,000.Additional information is as follows:

The amount of gross profit Sunfish should recognize on this contract during 2014 is

Quizplus · Accepted Answer

The Answer of Sunfish Construction Company uses the percentage-of-completion method of accounting.In 2014,Sunfish began work on a project which had a contract price of $1,600,000 and estimated costs of $1,200,000.Additional information is as follows:

The amount of gross profit Sunfish should recognize on this contract during 2014 is

Sunfish Construction Company Uses the Percentage-Of-Completion Method of Accounting