Problem: Can someone please help me with this question
Bling Co has the following construction contract below that commenced in 20X6. The amounts below that have been extracted from the accounts and records of 20X6 is as follows: $m
Total contract price 1200
Costs incurred to date 800
Estimated costs to completion in the following year 500
Amount invoiced 650
Payments received 350
a) In accordance with NZ IFRS 15, calculate the amounts to be recognised in relation to the construction contract in the statement of profit or loss and statement of financial position for the year ended 31 December 20X6 assuming the amount of performance obligation satisfied is calculated using the input method.