During 2010, Moss Corp.started a construction job with a total contract price of $1.4 million. The job was completed on December 15, 2011.Additional data are as follows: Under the completed-contract method, what amount should Moss recognize as gross profit for 2011?
A)$90,000.
B)$125,000.
C)$190,000.
D)$250,000.

Question

During 2010, Moss Corp.started a construction job with a total contract price of $1.4 million. The job was completed on December 15, 2011.Additional data are as follows:  Under the completed-contract method, what amount should Moss recognize as gross profit for 2011?
A)$90,000. 
B)$125,000. 
C)$190,000. 
D)$250,000.

Quizplus · Accepted Answer

The Answer of During 2010, Moss Corp.started a construction job with a total contract price of $1.4 million. The job was completed on December 15, 2011.Additional data are as follows:  Under the completed-contract method, what amount should Moss recognize as gross profit for 2011?
A)$90,000. 
B)$125,000. 
C)$190,000. 
D)$250,000.