Current Attempt in Progress percentage-of-completion Sandhill Construction Company uses the method of accounting. In 2025, Sandhill began work under contract #E2-D2, which provided for a contract price of $2,159,000. Other details follow: Costs incurred during the year Estimated costs to complete, as of December 31 Billings during the year Collections during the year (a) Revenue recognized in 2025 Revenue recognized in 2026 eTextbook and Media $ $ 2025 Search $571,320 1,015,680 415,000 349,000 What portion of the total contract price would be recognized as revenue in 2025? In 2026? (Do not round intermediate calculations.) 2026 $1,446,000 -0- 1,639,000 1,505,000 C DOLL O
Current Attempt in Progress percentage-of-completion Sandhill Construction Company uses the method of accounting. In 2025, Sandhill began work under contract #E2-D2, which provided for a contract price of $2,159,000. Other details follow: Costs incurred during the year Estimated costs to complete, as of December 31 Billings during the year Collections during the year (a) Revenue recognized in 2025 Revenue recognized in 2026 eTextbook and Media $ $ 2025 Search $571,320 1,015,680 415,000 349,000 What portion of the total contract price would be recognized as revenue in 2025? In 2026? (Do not round intermediate calculations.) 2026 $1,446,000 -0- 1,639,000 1,505,000 C DOLL O
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 26E
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