Business, 24.05.2021 14:00, Slytherinsarethebest
Robertson Construction entered into a contract to construct a tunnel for a fixed price of $12,000,000. Robertson recognizes revenue over time according to percentage of completion. Here are some facts:
COST INCURRED DURING CURRENT YEAR ESTIMATED ADDITIONAL COST TO COMPLETE
2016 $3,000,000 $6,000,000
2017 $5,000,000 $2,000,000
2018 $2,500,000 $0
Required:
How much Revenue should Robertson recognize in 2017?
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Robertson Construction entered into a contract to construct a tunnel for a fixed price of $12,000,00...
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