Triple Take Construction Co. began construction of a project in 2017 for a contract price of P9,600,000. The project is to be completed in 4 years or in the year 2021. The following are the details regarding the construction project: 2017 2018 2019 Costs incurred to date 2,160,000 4,500,000 7,520,000 Estimated cost to complete Progress Billings to date Cash Collections for the year 6,840,000 5,500,000 1,880,000 2,304,000 4,320,000 7,680,000 1,728,000 3,240,000 5,760,000

Triple Take Construction Co. began construction of a project in 2017 for a contract price of P9,600,000. The project is to be completed in 4 years or in the year 2021. The following are the details regarding the construction project: 2017 2018 2019 Costs incurred to date 2,160,000 4,500,000 7,520,000 Estimated cost to complete Progress Billings to date Cash Collections for the year 6,840,000 5,500,000 1,880,000 2,304,000 4,320,000 7,680,000 1,728,000 3,240,000 5,760,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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