In 2014,Charlotte Engineering entered into an agreement to construct an office building at a contract price of $5,100,000.Construction data were as follows:

Prepare the necessary entries for each year,assuming the firm uses the:
(1)completed-contract method
(2)percentage-of-completion method.

Question

In 2014,Charlotte Engineering entered into an agreement to construct an office building at a contract price of $5,100,000.Construction data were as follows:
  
Prepare the necessary entries for each year,assuming the firm uses the:
(1)completed-contract method
(2)percentage-of-completion method.

Quizplus · Accepted Answer

The Answer of In 2014,Charlotte Engineering entered into an agreement to construct an office building at a contract price of $5,100,000.Construction data were as follows:
  
Prepare the necessary entries for each year,assuming the firm uses the:
(1)completed-contract method
(2)percentage-of-completion method.

In 2014,Charlotte Engineering Entered into an Agreement to Construct an Office