Business, 20.11.2019 21:31, 023749

N2018, cupid construction co. (ccc) began work on a two-year fixed price contract project. ccc recognizes revenue over time according to percentage of completion for this contract, and provides the following information (dollars in millions):

accounts receivable, 12/31/2018 (from construction progress billings) $ 37.5
actual construction costs incurred in 2018 $ 135
cash collected on project during 2018 $ 105
construction in progress, 12/31/2018 $ 207
estimated percentage of completion during 2018 60 %
what are ccc's estimated remaining construction costs on the project at the end of 2018?

(a) $0

(b) $135 million

(c) $225 million

(d) $90 million

Answers: 1

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N2018, cupid construction co. (ccc) began work on a two-year fixed price contract project. ccc recog...