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Compute revenues expenses and income for each year 2016

Computing Revenues under Long-Term Contracts

Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $ 900,000. Expected (and actual) costs for the warehouse follow: 2016, $202,500; 2017, $337,500; and 2018, $135,000. The company completed the warehouse in 2015. Compute revenues, expenses, and income for each year 2016 through 2018, and for all three years combined, using the cost-to-cost method.

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Accounting Basics: Compute revenues expenses and income for each year 2016

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