Please help me on this problem I am stuck! I got situation 1 and 2 but after that the answers are wrong even though I am doing everything exactly how I got the answer of situatio 1 and 2. Please help me
Brady Construction Company contracted to build an apartment complex for a price of $6,000,000. Construction began in 2016 and was completed in 2018. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars.
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Estimated Costs to Complete
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Costs Incurred During Year
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(As of the End of the Year)
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Situation
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2016
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2017
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2018
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2016
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2017
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2018
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1
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1,600
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2,430
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1,200
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3,630
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1,200
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-
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2
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1,600
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1,200
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2,800
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3,630
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2,800
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-
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3
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1,600
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2,430
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2,400
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3,630
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2,300
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-
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4
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600
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3,100
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1,200
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4,200
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925
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-
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5
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600
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3,100
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2,000
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4,200
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2,300
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-
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6
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600
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3,100
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2,800
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5,600
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2,600
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-
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Gross Profit (Loss) Recognized
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Percentage of Completion
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Completed Contract
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Situation
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2016
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2017
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2018
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2016
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2017
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2018
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1
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2
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3
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4
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5
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6
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