The percentage completed at the end of each year

Reference no: EM131016733

In 2013, Tarlo Company agrees to construct a highway for Brice County over a 3-year period (2013 through 2015). The contract price is $1,350,000, and the construction costs (both actual and estimated) total $690,000 for the 3 years. The percentage completed at the end of each year is as follows: 2013, 25%; 2014, 70%; 2015, 100%.

1) Prepare a schedule showing the amount of gross profit that Tarlo recognizes each year using the completed-contract method. If an amount is zero, enter "0".
Gross Profit: Completed Contract Method:

2013 Need Answer

2014 Need Answer

2015 Need Answer

Total Gross Profit Need Answer

Reference no: EM131016733

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