Business, 24.12.2021 09:10, TheViperMlg23676

Calvin Construction Company had a contract starting April 2018, to construct a $24,000,000 building that is expected to be completed in September 2020, at an estimated cost of $22,000,000. At the end of 2018, the costs to date were $10,120,000 and the estimated total costs to complete had not changed. The progress billings during 2018 were $4,800,000 and the cash collected during 2018 was 3,200,000. Calvin uses the percentage-of-completion method. At December 31, 2018 Calvin would report Construction in Process in the amount of:

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Calvin Construction Company had a contract starting April 2018, to construct a $24,000,000 building...