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What is the gross profit for 2020? 2021? 2022?

What is the gross profit for 2020? 2021? 2022?

FINANCIAL ACCOUNTING
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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During 202O, Pharoah Company started a construction job with a contract price of $1,728,000. The job was completed in 2020. The following information is available. The contract is non-cancellable. 2020 2021 2022 Costs incurred to date 432,000 891,000 1,155,600 Estimated costs to complete 648,000 297,000 Billings to date 324,000 972,000 1,728,000 1,539,000 Collections to date 291,600 874,800 What is the gross profit for 2020? 2021? 2022? ... BIU • Format
Transcribed Image Text:During 202O, Pharoah Company started a construction job with a contract price of $1,728,000. The job was completed in 2020. The following information is available. The contract is non-cancellable. 2020 2021 2022 Costs incurred to date 432,000 891,000 1,155,600 Estimated costs to complete 648,000 297,000 Billings to date 324,000 972,000 1,728,000 1,539,000 Collections to date 291,600 874,800 What is the gross profit for 2020? 2021? 2022? ... BIU • Format
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