Percentage-of-Completion
Illustration--taken from text pages 976-978. We will review the years 1998 and 1999 in class. I will leave 2000 for you to work out yourselves--please use as a self-study!
- Information 1998:
Contract price $4.50 million
Costs to date $1.00 million
Costs to complete $3.00 million
Progress billings $0.90 million
Cash collected $0.75 million