Juneau Co. began a construction project in 2021 with a contract price of $150 million...
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Accounting
Juneau Co. began a construction project in 2021 with a contract price of $150 million to be received when the project is completed in 2023. During 2021, Juneau incurred $36 million of costs and estimates an additional $84 million of costs to complete the project. Juneau recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed. How much revenue and gross profit will Juneau Co. recognize in 2021? Show your work or credit will not be given.
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