ELO Contract Costs, Collectibility Refer to the information in E
Instructions
a Does the accounting for capitalized costs change if the contract is for year rather than years? Explain.
b Dan's Demolition is a startup company; as a result, there is more than insignificant uncertainty about Dan's ability to make the month payments on time. Does this uncertainty affect the amount of revenue to be recognized under the contract? Explain.
ELO Recognition of Profit on LongTerm Contracts During Nilsen Company started a construction job with a contract price of $ The job was completed in The following information is available.
tableCosts incurred to date,$$$
