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Business, 12.10.2020 01:01 lumikuz123

Cooper Construction Company had a contract starting April 2021, to construct a $24,000,000 building that is expected to be completed in September 2023, at an estimated cost of $22,000,000. At the end of 2021, the costs to date were $10,120,000 and the estimated total costs to complete had not changed. The progress billings during 2021 were $4,800,000 and the cash collected during 2021 was 3,200,000. Cooper uses the percentage-of-completion method. At December 31, 2021 Cooper would report Construction in Process in the amount of: A. $ 920,000 B. $10,120,000 C. $11,040,000 D. $ 9,440,000

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Cooper Construction Company had a contract starting April 2021, to construct a $24,000,000 building...
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