Business, 19.12.2019 05:31 kland5460

Aaa has a contract to build a building for $100,000 with an estimated time to completion of three years. a reliable cost estimate for the project is $60,000. in the first year of the project, aaa incurred costs totaling $24,000. how much profit should aaa report at the end of the first year under the percentage-of-completion method and the completed-contract method? percentage-of-completion : completed-contract
a) $16,000 : $0
b) $16,000 : $40,000
c) $40,000 : $0

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Aaa has a contract to build a building for $100,000 with an estimated time to completion of three ye...

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