Use the following information for questions 78 and 79.
Kiner, Inc. began work in 2014 on a contract for $16,800,000. Other data are as follows:
-If Kiner uses the completed-contract method, the gross profit to be recognized in 2015 is
A) $2,720,000.
B) $5,600,000.
C) $2,800,000.
D) $11,200,000.

Question

Use the following information for questions 78 and 79.
Kiner, Inc. began work in 2014 on a contract for $16,800,000. Other data are as follows: 
-If Kiner uses the completed-contract method, the gross profit to be recognized in 2015 is
A) $2,720,000. 
B) $5,600,000. 
C) $2,800,000. 
D) $11,200,000.

Quizplus · Accepted Answer

The Answer of Use the following information for questions 78 and 79.
Kiner, Inc. began work in 2014 on a contract for $16,800,000. Other data are as follows: 
-If Kiner uses the completed-contract method, the gross profit to be recognized in 2015 is
A) $2,720,000. 
B) $5,600,000. 
C) $2,800,000. 
D) $11,200,000.

Use the Following Information for Questions 78 and 79