Tax question for $100 no more !! due 12/13/2016
Camelia Company is a large commercial real estate contractor that reports its income by the percentage of completion method. In 2016, the company entered into a contract to construct a building for $900,000. Camelia estimated that the cost of constructing the building would be $600,000. In 2016, the company incurred $150,000 in costs under the contract. In 2017, the company incurred an additional $500,000 in […]