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  • OLPROFE01 - Activity 5 Sol

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    Red Mariee
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    This document shows the contract revenue and costs for 3 construction projects over multiple years. It displays the total revenue to date, revenue already recognized in prior years, revenue recognized in the current year, costs of construction, and the resulting profit or loss for each project in the current year. Project 20 x 3 had the highest total revenue to date at $10 million and recognized $5.5 million in revenue for the current year, resulting in a $4 million profit.

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    This document shows the contract revenue and costs for 3 construction projects over multiple years. It displays the total revenue to date, revenue already recognized in prior years, revenue recognized in the current year, costs of construction, and the resulting profit or loss for each project in the current year. Project 20 x 3 had the highest total revenue to date at $10 million and recognized $5.5 million in revenue for the current year, resulting in a $4 million profit.

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    6 views1 page

    OLPROFE01 - Activity 5 Sol

    Uploaded by

    Red Mariee
    This document shows the contract revenue and costs for 3 construction projects over multiple years. It displays the total revenue to date, revenue already recognized in prior years, revenue recognized in the current year, costs of construction, and the resulting profit or loss for each project in the current year. Project 20 x 3 had the highest total revenue to date at $10 million and recognized $5.5 million in revenue for the current year, resulting in a $4 million profit.

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    © All Rights Reserved
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    of 1

    20 x 1 20 x 2 20 x 3

    Contract revenue to date 2,400,000 4,500,000 10,000,000


    contract revenue in prior yrs. - (2,400,000) (4,500,000)
    Contract revenue for the year 2,400,000 2,100,000 5,500,000
    Cost of construction (2,400,000) (2,100,000) (1,500,000)
    Profit (loss) for the year - - 4,000,000

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