Tiger Company has consistently used the percentage-of-completion method of recognizing income. In 2005, Tiger started on an $18,000,000 construction contract that was completed in 2007. The following information was taken from Tiger's 2005 accounting records: What amount of revenue should Tiger recognize on the contract in 2005?

Question

Tiger Company has consistently used the percentage-of-completion method of recognizing income. In 2005, Tiger started on an $18,000,000 construction contract that was completed in 2007. The following information was taken from Tiger's 2005 accounting records:  What amount of revenue should Tiger recognize on the contract in 2005?

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The Answer of Tiger Company has consistently used the percentage-of-completion method of recognizing income. In 2005, Tiger started on an $18,000,000 construction contract that was completed in 2007. The following information was taken from Tiger's 2005 accounting records:  What amount of revenue should Tiger recognize on the contract in 2005?

Tiger Company Has Consistently Used the Percentage-Of-Completion Method of Recognizing