What would be the effect of the project on 2009


During 2009, Tidal wave company began construction on a project scheduled for completion in 2011. At Dec 31, 2009 an overall loss was anticipated at contract completion. What would be the effect of the project on 2009 operating income under the percentage-of-completion method and the completed contract method?

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Accounting Basics: What would be the effect of the project on 2009
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