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  3. 2. lwh3 inc. entered into a contract to install a

2. LWH3 Inc. entered into a contract to install a pipeline for a fixed price...

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Accounting

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2. LWH3 Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000. LWH3 recognizes revenue upon contract completion. (Show computations) Estimated Cost to Complete $ 1,550,000 500,000 Cost incurred $ 250,000 1,600,000 450,000 2017 2018 2019 In 2019, LWH3 would report gross profit (loss) of: 3. In 2016, Osgood Corporation purchased $4 million of 10-year municipal bonds at face value. On December 31, 2018, the bonds had a fair value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities. Osgood's December 31, 2018, balance sheet and the 2018 income statement would show the following: Income ayrold LAsbe iInvestment in eou otastatement lossCLUCUE 01 Cap on investments municipal bonds Bedoy.c

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