Homework Answers
Solution:
| Computation of % of completion and revenue recognition | |||||
| Year | Km Completed during the year | Total Kms | % of completion | Contract Price (In millions) | Revenue Recognition for the year (In millions) |
| 20X0 | 51 | 170 | 30.0% | $160.00 | $48.00 |
| 20X1 | 85 | 170 | 50.0% | $160.00 | $80.00 |
| 20X2 | 34 | 170 | 20.0% | $160.00 | $32.00 |
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