Homework answers / question archive / Answer: 60000 estion 5 tyet swered Notel: Four questions are related to the following same Information Note2: FINAL ANSWER arked out of 00 - Flag question Al Rageb Construction has a contract to construct a $6,000,000 school at an estimated cost of $4,000,000

Answer: 60000 estion 5 tyet swered Notel: Four questions are related to the following same Information Note2: FINAL ANSWER arked out of 00 - Flag question Al Rageb Construction has a contract to construct a $6,000,000 school at an estimated cost of $4,000,000

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Answer: 60000 estion 5 tyet swered Notel: Four questions are related to the following same Information Note2: FINAL ANSWER arked out of 00 - Flag question Al Rageb Construction has a contract to construct a $6,000,000 school at an estimated cost of $4,000,000. The contract is to start in August 2020, and is expected to be completed in November 2022. The following data pertoin to the construction period. 2020 2021 2022 Costs per year (Not Accumulated) $ 1120.000 $2160,000 $ 820,000 Estimated cost to complete 2.880.000 820,000 Required: 1 Percent complete at end of year 2021 2 Revenues from long term contracts for year 2022 is: $ 3 Gross Profit for year 2022 is: $ 4 Construction in progress balance as of 31|1212021 is: $ w A DOLL