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Golden Construction Company Uses the Percentage-Of-Completion Method for Long-Term Construction

Question 36

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Golden Construction Company uses the percentage-of-completion method for long-term construction contracts.The company started a project with a contract price of $2,750 in 2014.Given the following data,what is the balance in Construction in Progress for this contract at the end of 2014?
Golden Construction Company uses the percentage-of-completion method for long-term construction contracts.The company started a project with a contract price of $2,750 in 2014.Given the following data,what is the balance in Construction in Progress for this contract at the end of 2014? A) $150 B) $400 C) $550 D) $1,750


A) $150
B) $400
C) $550
D) $1,750

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