MOC Construction Company started work on three job sites during the current year. Any costs incurred are expected to be recoverable. Data relating to the
MOC Construction Company started work on three job sites during the current year. Any costs incurred are expected to be recoverable. Data relating to the three jobs are given below (image): If the company records revenue over time, how much must be shown as current asset in the balance sheet of MOC Construction Company as of December 31? A. 5,500,000 C. 250,000 B. 500,000 D. 100,000 : Site
Contract Price
Cost Incurred
Estimated Costs to Complete Billings on Contract Collections on Billings
1
5,000,000
3,750,000
5,000,000
5,000,000
7,000,000
1,000,000
4,000,000
900,000
900,000
2,500,000
1,000,000
1,000,000
1,500,000
1,000,000
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